14,599 Shares in KeyCorp $KEY Bought by Park Avenue Securities LLC

Park Avenue Securities LLC purchased a new stake in KeyCorp (NYSE:KEY) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 14,599 shares of the financial services provider’s stock, valued at approximately $254,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Sequoia Financial Advisors LLC lifted its stake in shares of KeyCorp by 4.8% in the first quarter. Sequoia Financial Advisors LLC now owns 68,857 shares of the financial services provider’s stock valued at $1,101,000 after buying an additional 3,145 shares during the period. Teacher Retirement System of Texas acquired a new position in KeyCorp in the 1st quarter valued at approximately $2,171,000. Signal Advisors Wealth LLC bought a new stake in shares of KeyCorp in the 2nd quarter worth approximately $431,000. Gradient Investments LLC acquired a new stake in shares of KeyCorp during the 2nd quarter worth approximately $1,973,000. Finally, Cambridge Investment Research Advisors Inc. grew its holdings in shares of KeyCorp by 31.3% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 111,757 shares of the financial services provider’s stock worth $1,787,000 after purchasing an additional 26,615 shares in the last quarter. 79.69% of the stock is currently owned by institutional investors and hedge funds.

KeyCorp Stock Performance

KeyCorp stock opened at $18.50 on Thursday. The stock has a 50-day simple moving average of $18.58 and a 200 day simple moving average of $16.92. The stock has a market capitalization of $20.28 billion, a price-to-earnings ratio of -264.21, a P/E/G ratio of 0.65 and a beta of 1.15. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.71. KeyCorp has a 12-month low of $12.73 and a 12-month high of $20.04.

KeyCorp (NYSE:KEY) last issued its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. The firm had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.81 billion. KeyCorp had a net margin of 1.49% and a return on equity of 9.65%. The company’s revenue was up 20.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.25 EPS. On average, research analysts anticipate that KeyCorp will post 1.5 earnings per share for the current fiscal year.

KeyCorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd were paid a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend was Tuesday, September 2nd. KeyCorp’s dividend payout ratio is -1,171.43%.

Analyst Ratings Changes

A number of brokerages recently commented on KEY. Truist Financial upped their target price on KeyCorp from $17.00 to $19.00 and gave the company a “hold” rating in a research note on Monday, July 28th. Baird R W lowered shares of KeyCorp from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 2nd. Morgan Stanley raised their price objective on shares of KeyCorp from $20.00 to $24.00 and gave the stock an “underperform” rating in a report on Monday. DA Davidson lifted their target price on shares of KeyCorp from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Wednesday, July 23rd. Finally, Jefferies Financial Group lowered their target price on shares of KeyCorp from $21.00 to $20.00 and set a “hold” rating on the stock in a research note on Wednesday, September 24th. Ten equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $20.08.

Insider Activity at KeyCorp

In other KeyCorp news, CEO Christopher M. Gorman sold 112,149 shares of the stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $18.86, for a total value of $2,115,130.14. Following the transaction, the chief executive officer directly owned 619,895 shares in the company, valued at approximately $11,691,219.70. This trade represents a 15.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Trina M. Evans sold 17,000 shares of the business’s stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $18.67, for a total value of $317,390.00. Following the sale, the director owned 82,719 shares of the company’s stock, valued at approximately $1,544,363.73. The trade was a 17.05% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 174,102 shares of company stock valued at $3,299,664 over the last quarter. Corporate insiders own 0.52% of the company’s stock.

KeyCorp Company Profile

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.