Brookstone Capital Management Has $12.64 Million Holdings in KeyCorp $KEY

Brookstone Capital Management decreased its stake in shares of KeyCorp (NYSE:KEY) by 5.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 612,333 shares of the financial services provider’s stock after selling 32,105 shares during the period. Brookstone Capital Management owned approximately 0.06% of KeyCorp worth $12,639,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in KEY. United Community Bank bought a new stake in KeyCorp in the 3rd quarter valued at $27,000. GoalVest Advisory LLC bought a new position in KeyCorp during the 4th quarter worth about $30,000. True Wealth Design LLC raised its stake in shares of KeyCorp by 1,263.5% in the 4th quarter. True Wealth Design LLC now owns 1,718 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 1,592 shares during the period. Sachetta LLC raised its stake in shares of KeyCorp by 1,246.1% in the 3rd quarter. Sachetta LLC now owns 1,723 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 1,595 shares during the period. Finally, Kelleher Financial Advisors bought a new stake in shares of KeyCorp in the third quarter valued at about $32,000. 79.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at KeyCorp

In other KeyCorp news, insider Andrew J. Paine III sold 65,961 shares of the firm’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $23.23, for a total transaction of $1,532,274.03. Following the completion of the sale, the insider owned 166,583 shares of the company’s stock, valued at $3,869,723.09. This trade represents a 28.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Trina M. Evans sold 32,695 shares of KeyCorp stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $21.74, for a total transaction of $710,789.30. Following the transaction, the director directly owned 58,719 shares of the company’s stock, valued at approximately $1,276,551.06. This trade represents a 35.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 161,506 shares of company stock worth $3,597,481. Company insiders own 0.52% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Royal Bank Of Canada upped their price objective on KeyCorp from $20.00 to $22.00 and gave the stock an “outperform” rating in a research report on Friday, December 12th. Keefe, Bruyette & Woods boosted their target price on KeyCorp from $21.00 to $24.00 and gave the company an “outperform” rating in a research note on Wednesday, December 17th. Truist Financial reduced their price target on KeyCorp from $23.00 to $22.00 and set a “hold” rating for the company in a research report on Monday, March 23rd. The Goldman Sachs Group raised their price target on shares of KeyCorp from $25.00 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday, January 21st. Finally, DA Davidson set a $25.00 price objective on shares of KeyCorp in a report on Wednesday, January 21st. Twelve equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, KeyCorp currently has an average rating of “Moderate Buy” and a consensus target price of $22.87.

KeyCorp Stock Performance

Shares of KEY opened at $20.04 on Wednesday. KeyCorp has a one year low of $12.73 and a one year high of $23.34. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.83 and a quick ratio of 0.82. The company has a market cap of $21.50 billion, a PE ratio of 13.19, a price-to-earnings-growth ratio of 0.63 and a beta of 1.08. The firm has a 50-day moving average of $20.90 and a 200-day moving average of $19.70.

KeyCorp (NYSE:KEY) last announced its quarterly earnings results on Tuesday, January 20th. The financial services provider reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. KeyCorp had a return on equity of 10.28% and a net margin of 15.97%.The firm had revenue of $5.45 billion for the quarter, compared to the consensus estimate of $1.95 billion. During the same quarter in the previous year, the business earned $0.30 earnings per share. The business’s revenue was up 131.8% compared to the same quarter last year. As a group, equities analysts forecast that KeyCorp will post 1.5 earnings per share for the current year.

KeyCorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Tuesday, March 3rd were paid a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date was Tuesday, March 3rd. KeyCorp’s dividend payout ratio is 53.95%.

About KeyCorp

KeyCorp is a bank holding company headquartered in Cleveland, Ohio, that operates through its primary banking subsidiary, KeyBank. It provides a broad range of banking and financial services to individual consumers, small businesses, middle-market companies and large corporations. KeyBank’s offerings span traditional deposit and lending products as well as more specialized financial solutions designed for commercial and institutional clients.

The company’s product and service mix includes retail banking products such as checking and savings accounts, consumer and residential mortgage lending, and auto financing.