Wealth Enhancement Advisory Services LLC Has $2.24 Million Position in KeyCorp $KEY

Wealth Enhancement Advisory Services LLC cut its holdings in KeyCorp (NYSE:KEY) by 30.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 121,626 shares of the financial services provider’s stock after selling 52,857 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in KeyCorp were worth $2,239,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Activest Wealth Management increased its holdings in KeyCorp by 8,775.0% in the second quarter. Activest Wealth Management now owns 1,420 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 1,404 shares in the last quarter. Sachetta LLC grew its position 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 buying an additional 1,595 shares during the period. Elevation Point Wealth Partners LLC acquired a new stake in shares of KeyCorp during the 2nd quarter worth approximately $36,000. Concord Wealth Partners increased its stake in shares of KeyCorp by 71.5% in the 2nd quarter. Concord Wealth Partners now owns 2,183 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 910 shares in the last quarter. Finally, Capital A Wealth Management LLC lifted its position in shares of KeyCorp by 252.8% during the 2nd 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. Institutional investors own 79.69% of the company’s stock.

Insider Transactions at KeyCorp

In other news, Director Trina M. Evans sold 32,695 shares of the company’s stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $21.74, for a total value 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. This represents a 35.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.52% of the stock is owned by corporate insiders.

KeyCorp Price Performance

KEY stock opened at $21.66 on Friday. The company has a market capitalization of $23.67 billion, a P/E ratio of 14.25, a price-to-earnings-growth ratio of 0.52 and a beta of 1.09. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.82 and a current ratio of 0.83. KeyCorp has a 52-week low of $12.73 and a 52-week high of $22.07. The business has a 50-day simple moving average of $20.44 and a two-hundred day simple moving average of $18.99.

KeyCorp (NYSE:KEY) last posted its earnings results on Tuesday, January 20th. The financial services provider reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. The company had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.95 billion. KeyCorp had a return on equity of 10.28% and a net margin of 15.97%.The company’s revenue for the quarter was up 131.8% on a year-over-year basis. During the same quarter last year, the company earned $0.30 earnings per share. Research analysts expect that KeyCorp will post 1.5 EPS for the current fiscal year.

KeyCorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Tuesday, March 3rd will be paid a dividend of $0.205 per share. The ex-dividend date is Tuesday, March 3rd. This represents a $0.82 annualized dividend and a yield of 3.8%. KeyCorp’s dividend payout ratio (DPR) is 53.95%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. DA Davidson set a $25.00 price target on shares of KeyCorp in a report on Wednesday, January 21st. Citigroup restated a “neutral” rating on shares of KeyCorp in a research note on Wednesday, December 31st. The Goldman Sachs Group boosted their target price on KeyCorp from $25.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, January 21st. Robert W. Baird lowered KeyCorp from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 6th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of KeyCorp in a research note on Monday, December 29th. Eleven investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, KeyCorp has an average rating of “Hold” and an average target price of $22.68.

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.