Wealth Enhancement Advisory Services LLC Has $1.24 Million Holdings in KeyCorp (NYSE:KEY)

Wealth Enhancement Advisory Services LLC lessened its stake in KeyCorp (NYSE:KEYFree Report) by 3.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 78,573 shares of the financial services provider’s stock after selling 2,540 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in KeyCorp were worth $1,242,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in KEY. Norges Bank acquired a new stake in shares of KeyCorp during the 4th quarter worth approximately $128,203,000. Ceredex Value Advisors LLC acquired a new stake in shares of KeyCorp during the 4th quarter worth approximately $64,421,000. Balyasny Asset Management L.P. grew its position in shares of KeyCorp by 26,297.7% during the 4th quarter. Balyasny Asset Management L.P. now owns 2,708,664 shares of the financial services provider’s stock worth $39,005,000 after buying an additional 2,698,403 shares during the period. Impax Asset Management Group plc grew its position in shares of KeyCorp by 11,813.2% during the 4th quarter. Impax Asset Management Group plc now owns 2,289,724 shares of the financial services provider’s stock worth $32,972,000 after buying an additional 2,270,504 shares during the period. Finally, Azora Capital LP grew its holdings in KeyCorp by 158.2% during the fourth quarter. Azora Capital LP now owns 3,598,774 shares of the financial services provider’s stock valued at $51,822,000 after purchasing an additional 2,204,720 shares during the period. Institutional investors and hedge funds own 79.69% of the company’s stock.

KeyCorp Stock Performance

Shares of KEY stock opened at $13.95 on Friday. The company’s fifty day simple moving average is $14.33 and its 200-day simple moving average is $14.46. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.72. The firm has a market cap of $13.15 billion, a PE ratio of 17.66, a P/E/G ratio of 0.72 and a beta of 1.26. KeyCorp has a 12 month low of $9.10 and a 12 month high of $15.86.

KeyCorp (NYSE:KEYGet Free Report) last posted its quarterly earnings results on Thursday, April 18th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.01). KeyCorp had a return on equity of 8.89% and a net margin of 7.53%. The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.51 billion. During the same period last year, the company posted $0.44 earnings per share. The business’s revenue was down 10.6% compared to the same quarter last year. Equities research analysts expect that KeyCorp will post 1.13 EPS for the current fiscal year.

KeyCorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Tuesday, May 28th were given a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 5.88%. The ex-dividend date of this dividend was Friday, May 24th. KeyCorp’s dividend payout ratio (DPR) is currently 103.80%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Wells Fargo & Company boosted their price objective on shares of KeyCorp from $16.00 to $18.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. JPMorgan Chase & Co. decreased their price objective on shares of KeyCorp from $17.50 to $16.50 and set a “neutral” rating for the company in a report on Thursday, June 27th. Jefferies Financial Group boosted their price objective on shares of KeyCorp from $17.00 to $18.00 and gave the company a “buy” rating in a report on Monday, April 8th. Argus boosted their price objective on shares of KeyCorp from $15.00 to $16.00 and gave the company a “buy” rating in a report on Friday, April 19th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of KeyCorp from $16.00 to $18.00 and gave the company an “outperform” rating in a report on Friday, April 5th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, KeyCorp has a consensus rating of “Moderate Buy” and an average price target of $17.38.

Read Our Latest Stock Report on KEY

About KeyCorp

(Free Report)

KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking products and services in the United States. It operates in two segments, Consumer Bank and Commercial Bank. The company offers various deposits, investment products and services; commercial leasing, investment management, consumer finance; and personal finance and financial wellness, student loan refinancing, mortgage and home equity, lending, credit card, treasury, business advisory, wealth management, asset management, cash management, portfolio management, and trust and related services to individuals and small and medium-sized businesses.

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Institutional Ownership by Quarter for KeyCorp (NYSE:KEY)

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