Intech Investment Management LLC Purchases 61,491 Shares of KeyCorp $KEY

Intech Investment Management LLC increased its position in shares of KeyCorp (NYSE:KEY) by 46.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 194,186 shares of the financial services provider’s stock after purchasing an additional 61,491 shares during the period. Intech Investment Management LLC’s holdings in KeyCorp were worth $3,629,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. United Community Bank acquired a new stake in KeyCorp during the third quarter worth $27,000. Sachetta LLC lifted its holdings in shares of KeyCorp by 1,246.1% during the 3rd quarter. Sachetta LLC now owns 1,723 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 1,595 shares during the period. Root Financial Partners LLC acquired a new stake in shares of KeyCorp during the 3rd quarter valued at about $37,000. Elevation Point Wealth Partners LLC acquired a new stake in shares of KeyCorp during the 2nd quarter valued at about $36,000. Finally, Capital A Wealth Management LLC increased its stake in KeyCorp by 252.8% in the second quarter. Capital A Wealth Management LLC now owns 2,237 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 1,603 shares during the period. 79.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have commented on KEY. Royal Bank Of Canada raised their price target on shares of KeyCorp from $20.00 to $22.00 and gave the stock an “outperform” rating in a research note on Friday, December 12th. The Goldman Sachs Group increased their target price on KeyCorp from $25.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday, January 21st. JPMorgan Chase & Co. boosted their price target on KeyCorp from $22.00 to $24.50 and gave the company a “neutral” rating in a research note on Monday, February 9th. Stephens upped their price target on KeyCorp from $21.00 to $23.00 and gave the company an “overweight” rating in a research report on Thursday, December 18th. Finally, Jefferies Financial Group lifted their price objective on KeyCorp from $19.00 to $22.00 and gave the company a “hold” rating in a report on Wednesday, December 10th. Twelve investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $22.92.

KeyCorp Stock Down 5.3%

Shares of NYSE:KEY opened at $20.71 on Monday. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.55. The firm has a market cap of $22.56 billion, a P/E ratio of 13.62, a P/E/G ratio of 0.62 and a beta of 1.08. KeyCorp has a 12 month low of $12.73 and a 12 month high of $23.34. The company’s 50-day moving average price is $21.51 and its two-hundred day moving average price is $19.58.

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

KeyCorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Tuesday, March 3rd will be issued a dividend of $0.205 per share. The ex-dividend date of this dividend is Tuesday, March 3rd. This represents a $0.82 annualized dividend and a yield of 4.0%. KeyCorp’s dividend payout ratio is currently 53.95%.

Insider Buying and Selling at KeyCorp

In other news, Director Trina M. Evans sold 32,695 shares of the business’s 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 completion of the sale, the director owned 58,719 shares in the company, valued at $1,276,551.06. The trade was a 35.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Angela G. Mago sold 62,850 shares of the company’s stock in a transaction on Thursday, January 29th. The shares were sold at an average price of $21.55, for a total value of $1,354,417.50. Following the transaction, the insider directly owned 261,415 shares in the company, valued at $5,633,493.25. This trade represents a 19.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 161,506 shares of company stock worth $3,597,481. Insiders own 0.52% of the company’s stock.

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.