Arkadios Wealth Advisors Grows Stock Position in KeyCorp $KEY

Arkadios Wealth Advisors increased its stake in shares of KeyCorp (NYSE:KEY) by 331.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 54,370 shares of the financial services provider’s stock after purchasing an additional 41,767 shares during the quarter. Arkadios Wealth Advisors’ holdings in KeyCorp were worth $1,016,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC acquired a new stake in shares of KeyCorp in the 4th quarter worth $476,000. Woodline Partners LP increased its stake in shares of KeyCorp by 41.4% during the first quarter. Woodline Partners LP now owns 84,156 shares of the financial services provider’s stock worth $1,346,000 after acquiring an additional 24,627 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in KeyCorp by 13.2% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 174,483 shares of the financial services provider’s stock worth $3,221,000 after purchasing an additional 20,414 shares in the last quarter. Park Avenue Securities LLC acquired a new stake in KeyCorp in the second quarter valued at about $254,000. Finally, Fifth Third Bancorp boosted its holdings in KeyCorp by 2.9% in the 2nd quarter. Fifth Third Bancorp now owns 78,987 shares of the financial services provider’s stock valued at $1,376,000 after purchasing an additional 2,196 shares in the last quarter. 79.69% of the stock is owned by institutional investors and hedge funds.

Insider Activity at KeyCorp

In related news, Director Trina M. Evans sold 32,695 shares of the 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 sale, the director owned 58,719 shares of the company’s stock, valued at $1,276,551.06. This trade represents a 35.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.52% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on KEY shares. Weiss Ratings reissued a “hold (c+)” rating on shares of KeyCorp in a research note on Monday, December 29th. Morgan Stanley increased their price objective on KeyCorp from $20.00 to $24.00 and gave the stock an “underperform” rating in a research report on Monday, September 29th. DA Davidson set a $25.00 target price on KeyCorp in a report on Wednesday. TD Cowen restated a “buy” rating on shares of KeyCorp in a research report on Wednesday, January 7th. Finally, Piper Sandler increased their price target on shares of KeyCorp from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Tuesday, December 9th. Eleven research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, KeyCorp presently has a consensus rating of “Hold” and an average target price of $22.63.

KeyCorp Stock Down 2.2%

KEY stock opened at $21.09 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.83 and a quick ratio of 0.83. The company’s 50 day simple moving average is $20.11 and its 200-day simple moving average is $18.91. KeyCorp has a 12 month low of $12.73 and a 12 month high of $22.07. The firm has a market capitalization of $23.05 billion, a PE ratio of 13.88, a P/E/G ratio of 0.51 and a beta of 1.09.

KeyCorp (NYSE:KEY) last issued its quarterly earnings data on Tuesday, January 20th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.02. The firm had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.95 billion. KeyCorp had a return on equity of 10.28% and a net margin of 15.97%.The company’s quarterly revenue was up 131.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.30 EPS. Equities analysts expect that KeyCorp will post 1.5 earnings per share for the current fiscal year.

KeyCorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Tuesday, March 3rd will be given a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Tuesday, March 3rd. KeyCorp’s dividend payout ratio is currently 53.95%.

KeyCorp Company Profile

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.