Kingsview Wealth Management LLC Buys 5,119 Shares of KeyCorp $KEY

Kingsview Wealth Management LLC grew its stake in shares of KeyCorp (NYSE:KEY) by 32.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,687 shares of the financial services provider’s stock after buying an additional 5,119 shares during the period. Kingsview Wealth Management LLC’s holdings in KeyCorp were worth $360,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Brighton Jones LLC bought a new position in KeyCorp during the 4th quarter worth approximately $476,000. Kestra Private Wealth Services LLC raised its holdings in KeyCorp by 24.9% in the first quarter. Kestra Private Wealth Services LLC now owns 18,389 shares of the financial services provider’s stock worth $294,000 after purchasing an additional 3,666 shares during the period. IFP Advisors Inc boosted its position in shares of KeyCorp by 23.7% during the first quarter. IFP Advisors Inc now owns 20,108 shares of the financial services provider’s stock worth $325,000 after purchasing an additional 3,848 shares in the last quarter. Pinnacle Associates Ltd. boosted its position in shares of KeyCorp by 72.9% during the first quarter. Pinnacle Associates Ltd. now owns 29,910 shares of the financial services provider’s stock worth $478,000 after purchasing an additional 12,606 shares in the last quarter. Finally, Carnegie Investment Counsel grew its holdings in shares of KeyCorp by 4.8% in the 1st quarter. Carnegie Investment Counsel now owns 19,834 shares of the financial services provider’s stock valued at $317,000 after buying an additional 900 shares during the period. 79.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently commented on KEY shares. TD Cowen raised their price objective on KeyCorp from $20.00 to $21.00 and gave the stock a “hold” rating in a research note on Friday, October 3rd. DA Davidson dropped their price target on KeyCorp from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Friday, October 17th. Wells Fargo & Company boosted their price objective on KeyCorp from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Friday, October 3rd. Keefe, Bruyette & Woods increased their target price on KeyCorp from $20.50 to $21.00 and gave the stock an “outperform” rating in a research note on Friday, October 10th. Finally, UBS Group lifted their price target on shares of KeyCorp from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Tuesday, October 7th. Ten research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, KeyCorp has a consensus rating of “Hold” and a consensus price target of $20.75.

Insider Activity at KeyCorp

In other news, insider Andrew J. Paine III sold 44,953 shares of the firm’s stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $19.29, for a total value of $867,143.37. Following the completion of the transaction, the insider owned 245,044 shares in the company, valued at $4,726,898.76. This trade represents a 15.50% decrease in their position. The sale 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 corporate insiders.

KeyCorp Trading Up 3.1%

NYSE KEY opened at $17.81 on Friday. KeyCorp has a 52 week low of $12.73 and a 52 week high of $20.04. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 0.83. The stock’s 50 day moving average price is $17.97 and its two-hundred day moving average price is $17.64. The stock has a market capitalization of $19.46 billion, a price-to-earnings ratio of 21.99, a PEG ratio of 0.52 and a beta of 1.18.

KeyCorp (NYSE:KEY) last posted its quarterly earnings data on Thursday, October 16th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.03. KeyCorp had a net margin of 10.08% and a return on equity of 10.14%. The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same period last year, the company earned ($0.47) earnings per share. The firm’s revenue was up 172.7% compared to the same quarter last year. As a group, analysts anticipate that KeyCorp will post 1.5 earnings per share for the current fiscal year.

KeyCorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Tuesday, December 2nd will be given a dividend of $0.205 per share. The ex-dividend date of this dividend is Tuesday, December 2nd. This represents a $0.82 annualized dividend and a yield of 4.6%. KeyCorp’s payout ratio is 101.23%.

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.