Andra AP fonden lessened its holdings in shares of KeyCorp (NYSE:KEY – Free Report) by 34.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 103,539 shares of the financial services provider’s stock after selling 53,761 shares during the period. Andra AP fonden’s holdings in KeyCorp were worth $2,076,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in KeyCorp by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 124,811,543 shares of the financial services provider’s stock worth $2,576,110,000 after acquiring an additional 1,192,323 shares in the last quarter. Wellington Management Group LLP grew its holdings in KeyCorp by 90.2% in the third quarter. Wellington Management Group LLP now owns 36,370,694 shares of the financial services provider’s stock worth $679,768,000 after purchasing an additional 17,245,128 shares during the period. Geode Capital Management LLC grew its holdings in KeyCorp by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 23,983,690 shares of the financial services provider’s stock worth $493,048,000 after purchasing an additional 115,968 shares during the period. Capital World Investors increased its stake in shares of KeyCorp by 1.1% during the fourth quarter. Capital World Investors now owns 21,027,471 shares of the financial services provider’s stock valued at $434,007,000 after purchasing an additional 238,514 shares in the last quarter. Finally, Invesco Ltd. increased its stake in shares of KeyCorp by 4.7% during the fourth quarter. Invesco Ltd. now owns 20,567,184 shares of the financial services provider’s stock valued at $424,507,000 after purchasing an additional 916,732 shares in the last quarter. 79.69% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In related news, insider Angela G. Mago sold 22,826 shares of KeyCorp stock in a transaction on Friday, May 8th. The stock was sold at an average price of $21.66, for a total transaction of $494,411.16. Following the transaction, the insider directly owned 281,564 shares in the company, valued at approximately $6,098,676.24. The trade was a 7.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.56% of the company’s stock.
KeyCorp Stock Performance
KeyCorp (NYSE:KEY – Get Free Report) last announced its earnings results on Tuesday, July 21st. The financial services provider reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.02. KeyCorp had a net margin of 17.83% and a return on equity of 11.23%. The business had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.97 billion. During the same period in the prior year, the company earned $0.35 earnings per share. The firm’s revenue was up 6.7% on a year-over-year basis. On average, equities research analysts predict that KeyCorp will post 1.82 EPS for the current year.
KeyCorp declared that its board has authorized a share buyback plan on Wednesday, May 13th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 13% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.
KeyCorp Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Tuesday, September 1st. KeyCorp’s dividend payout ratio (DPR) is currently 50.31%.
Wall Street Analyst Weigh In
A number of analysts have recently commented on the company. Jefferies Financial Group boosted their price target on KeyCorp from $21.00 to $23.00 and gave the stock a “hold” rating in a research report on Friday, April 17th. Keefe, Bruyette & Woods raised their price objective on KeyCorp from $25.00 to $26.00 and gave the company an “outperform” rating in a research report on Wednesday. Robert W. Baird raised their price objective on KeyCorp from $22.00 to $23.00 and gave the company a “neutral” rating in a research report on Wednesday. Truist Financial lifted their price objective on KeyCorp from $23.00 to $24.00 and gave the company a “hold” rating in a research note on Wednesday, June 24th. Finally, Morgan Stanley boosted their target price on KeyCorp from $24.00 to $25.00 and gave the stock an “equal weight” rating in a report on Monday, June 29th. Thirteen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, KeyCorp currently has a consensus rating of “Moderate Buy” and an average price target of $49.14.
Check Out Our Latest Report on KEY
Trending Headlines about KeyCorp
Here are the key news stories impacting KeyCorp this week:
- Positive Sentiment: Jim Cramer said regional banks have been a “fantastic place to be” and specifically recommended KeyCorp, reinforcing bullish sentiment toward the stock. Jim Cramer: ‘Regional Banks Have Been A Fantastic Place To Be’
- Positive Sentiment: Analysts have been raising their outlooks after KeyCorp’s Q2 beat, citing solid earnings and improving growth trends; Keefe, Bruyette & Woods lifted its target to $26 and kept an outperform rating. KeyCorp Analysts Increase Their Forecasts After Upbeat Q2 Earnings
- Positive Sentiment: Bank of America reiterated a Buy rating with a $26 target, saying guidance was raised for loan growth and net interest income, which supports the bullish case for KeyCorp. KeyCorp: Buy Rating Reaffirmed as 2026 Guidance Raised for Loan Growth and Net Interest Income, with $26 Price Target
- Positive Sentiment: Scotiabank said its stake in KeyCorp will add $82 million to third-quarter net income, a potentially meaningful tailwind for profitability. Scotiabank says stake in KeyCorp will add $82M to third-quarter net income
- Neutral Sentiment: Some coverage noted that KeyCorp’s stock underperformed peers on Tuesday, suggesting the rally may be uneven despite the improved fundamental and analyst backdrop. KeyCorp stock underperforms Tuesday when compared to competitors
- Negative Sentiment: One earnings-focused report said Q2 revenue was pressured by weaker-than-expected noninterest income and margin performance, which could temper enthusiasm around the quarter. KeyCorp’s Q2 revenue hit by weaker-than-expected noninterest income, margin trails consensus
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.
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