AGF Management Ltd. Acquires 6,455 Shares of KeyCorp (NYSE:KEY)

AGF Management Ltd. boosted its position in KeyCorp (NYSE:KEY) by 1.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 340,349 shares of the financial services provider’s stock after purchasing an additional 6,455 shares during the period. AGF Management Ltd.’s holdings in KeyCorp were worth $4,836,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the company. Headlands Technologies LLC lifted its stake in KeyCorp by 235.9% in the second quarter. Headlands Technologies LLC now owns 22,658 shares of the financial services provider’s stock valued at $322,000 after purchasing an additional 15,913 shares during the last quarter. Daiwa Securities Group Inc. lifted its stake in KeyCorp by 10.5% in the second quarter. Daiwa Securities Group Inc. now owns 102,176 shares of the financial services provider’s stock valued at $1,452,000 after purchasing an additional 9,689 shares during the last quarter. Beam Wealth Advisors Inc. purchased a new position in KeyCorp in the second quarter valued at approximately $354,000. Andra AP fonden lifted its stake in KeyCorp by 68.1% in the second quarter. Andra AP fonden now owns 388,900 shares of the financial services provider’s stock valued at $5,526,000 after purchasing an additional 157,500 shares during the last quarter. Finally, Royal London Asset Management Ltd. lifted its stake in KeyCorp by 0.4% in the second quarter. Royal London Asset Management Ltd. now owns 317,997 shares of the financial services provider’s stock valued at $4,519,000 after purchasing an additional 1,404 shares during the last quarter. Hedge funds and other institutional investors own 79.69% of the company’s stock.

Insider Activity at KeyCorp

In related news, Director Carlton L. Highsmith sold 10,000 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $16.21, for a total value of $162,100.00. Following the transaction, the director now owns 46,864 shares of the company’s stock, valued at $759,665.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.61% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on KEY. Morgan Stanley upped their price objective on KeyCorp from $18.00 to $20.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 14th. Royal Bank of Canada restated an “outperform” rating and set a $17.00 target price on shares of KeyCorp in a research report on Tuesday, August 13th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $18.00 target price on shares of KeyCorp in a research report on Tuesday. JPMorgan Chase & Co. dropped their target price on KeyCorp from $17.50 to $16.50 and set a “neutral” rating on the stock in a research report on Thursday, June 27th. Finally, DA Davidson increased their target price on KeyCorp from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, KeyCorp presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.65.

KeyCorp Trading Up 1.2 %

Shares of KEY stock opened at $16.11 on Friday. The company has a market capitalization of $15.19 billion, a PE ratio of 20.39, a price-to-earnings-growth ratio of 0.87 and a beta of 1.25. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.85 and a current ratio of 0.85. KeyCorp has a 52-week low of $9.50 and a 52-week high of $17.20. The business’s fifty day moving average is $15.80 and its 200 day moving average is $14.99.

KeyCorp (NYSE:KEY) last released its earnings results on Thursday, July 18th. The financial services provider reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. The business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.52 billion. KeyCorp had a return on equity of 8.64% and a net margin of 7.35%. The firm’s revenue was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.27 earnings per share. On average, equities research analysts anticipate that KeyCorp will post 1.09 EPS for the current fiscal year.

KeyCorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Tuesday, August 27th will be paid a $0.205 dividend. The ex-dividend date of this dividend is Tuesday, August 27th. This represents a $0.82 dividend on an annualized basis and a yield of 5.09%. KeyCorp’s dividend payout ratio is presently 103.80%.

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.