Fisher Asset Management LLC Has $1.65 Million Position in KeyCorp $KEY

Fisher Asset Management LLC increased its position in shares of KeyCorp (NYSE:KEY) by 41.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 94,676 shares of the financial services provider’s stock after acquiring an additional 27,648 shares during the period. Fisher Asset Management LLC’s holdings in KeyCorp were worth $1,649,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Activest Wealth Management lifted its stake in KeyCorp by 8,775.0% during the second quarter. Activest Wealth Management now owns 1,420 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 1,404 shares during the last quarter. Tompkins Financial Corp acquired a new position in shares of KeyCorp during the 2nd quarter worth $26,000. Zions Bancorporation National Association UT bought a new stake in shares of KeyCorp during the 1st quarter worth $28,000. Elevation Point Wealth Partners LLC bought a new stake in shares of KeyCorp during the 2nd quarter worth $36,000. Finally, Concord Wealth Partners boosted its stake in KeyCorp by 71.5% in the second quarter. Concord Wealth Partners now owns 2,183 shares of the financial services provider’s stock valued at $38,000 after buying an additional 910 shares in the last quarter. 79.69% of the stock is owned by institutional investors.

KeyCorp Stock Performance

NYSE KEY opened at $19.26 on Friday. The company has a market capitalization of $21.05 billion, a price-to-earnings ratio of 23.78, a PEG ratio of 0.57 and a beta of 1.11. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.62. KeyCorp has a twelve month low of $12.73 and a twelve month high of $19.73. The stock has a fifty day simple moving average of $17.91 and a 200 day simple moving average of $17.81.

KeyCorp (NYSE:KEY) last announced its earnings results on Thursday, October 16th. The financial services provider reported $0.41 EPS for the quarter, topping the consensus estimate of $0.38 by $0.03. KeyCorp had a return on equity of 10.14% and a net margin of 10.08%.The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same period in the previous year, the business earned ($0.47) EPS. The business’s quarterly revenue was up 172.7% compared to the same quarter last year. Sell-side analysts expect that KeyCorp will post 1.5 EPS for the current year.

KeyCorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Tuesday, December 2nd will be issued a $0.205 dividend. The ex-dividend date is Tuesday, December 2nd. This represents a $0.82 annualized dividend and a yield of 4.3%. KeyCorp’s dividend payout ratio is presently 101.23%.

Insiders Place Their Bets

In other KeyCorp news, insider Andrew J. Paine III sold 44,953 shares of the stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $19.29, for a total transaction of $867,143.37. Following the completion of the sale, the insider owned 245,044 shares of the company’s stock, valued at approximately $4,726,898.76. This represents a 15.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.52% of the company’s stock.

Analyst Ratings Changes

KEY has been the subject of a number of research reports. Keefe, Bruyette & Woods increased their target price on shares of KeyCorp from $20.50 to $21.00 and gave the stock an “outperform” rating in a report on Friday, October 10th. Truist Financial dropped their price objective on shares of KeyCorp from $20.00 to $19.00 and set a “hold” rating for the company in a research note on Friday, October 17th. UBS Group boosted their target price on shares of KeyCorp from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. Morgan Stanley upped their price target on shares of KeyCorp from $20.00 to $24.00 and gave the stock an “underperform” rating in a report on Monday, September 29th. Finally, Royal Bank Of Canada raised their price objective on KeyCorp from $19.00 to $20.00 and gave the company an “outperform” rating in a report on Wednesday, October 1st. Eight analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, KeyCorp has a consensus rating of “Hold” and a consensus price target of $20.59.

KeyCorp 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.