Abich Financial Wealth Management LLC Raises Stock Holdings in KeyCorp (NYSE:KEY)

Abich Financial Wealth Management LLC boosted its holdings in KeyCorp (NYSE:KEY) by 31.2% during the 2nd quarter, Holdings Channel reports. The firm owned 7,060 shares of the financial services provider’s stock after acquiring an additional 1,679 shares during the period. Abich Financial Wealth Management LLC’s holdings in KeyCorp were worth $100,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of KEY. Point72 Europe London LLP raised its stake in shares of KeyCorp by 85.4% during the 2nd quarter. Point72 Europe London LLP now owns 1,496,382 shares of the financial services provider’s stock worth $21,264,000 after purchasing an additional 689,082 shares during the period. Point72 Asset Management L.P. bought a new stake in KeyCorp in the second quarter worth about $33,273,000. Cubist Systematic Strategies LLC raised its position in KeyCorp by 174.5% in the second quarter. Cubist Systematic Strategies LLC now owns 1,704,596 shares of the financial services provider’s stock worth $24,222,000 after acquiring an additional 1,083,614 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in KeyCorp by 58.9% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 177,640 shares of the financial services provider’s stock valued at $2,524,000 after acquiring an additional 65,858 shares during the last quarter. Finally, Point72 DIFC Ltd grew its position in shares of KeyCorp by 39.1% during the 2nd quarter. Point72 DIFC Ltd now owns 261,847 shares of the financial services provider’s stock valued at $3,721,000 after acquiring an additional 73,663 shares during the period. Hedge funds and other institutional investors own 79.69% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on KEY. Morgan Stanley lifted their price target on shares of KeyCorp from $18.00 to $20.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 14th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $18.00 target price on shares of KeyCorp in a research note on Tuesday, September 10th. Evercore ISI dropped their price target on KeyCorp from $17.50 to $16.50 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th. JPMorgan Chase & Co. decreased their price objective on KeyCorp from $17.50 to $16.50 and set a “neutral” rating for the company in a report on Thursday, June 27th. Finally, Wedbush boosted their price objective on KeyCorp from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Tuesday. 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 company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.71.

Insider Transactions at KeyCorp

In other news, Director Carlton L. Highsmith sold 10,000 shares of KeyCorp stock in a transaction on Friday, August 16th. The shares were sold at an average price of $16.21, for a total transaction of $162,100.00. Following the completion of the sale, the director now directly owns 46,864 shares of the company’s stock, valued at approximately $759,665.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.61% of the company’s stock.

KeyCorp Stock Down 1.1 %

KEY opened at $16.62 on Wednesday. The firm has a market capitalization of $15.68 billion, a P/E ratio of 21.04, a price-to-earnings-growth ratio of 0.93 and a beta of 1.25. KeyCorp has a one year low of $9.50 and a one year high of $17.39. The company has a fifty day moving average price of $16.09 and a 200-day moving average price of $15.13. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.85 and a quick ratio of 0.85.

KeyCorp (NYSE:KEY) last announced its earnings results on Thursday, July 18th. The financial services provider reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.52 billion. KeyCorp had a return on equity of 8.64% and a net margin of 7.35%. The company’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.27 EPS. Equities research analysts expect that KeyCorp will post 1.1 earnings per share for the current fiscal year.

KeyCorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Tuesday, August 27th were paid a $0.205 dividend. The ex-dividend date was Tuesday, August 27th. This represents a $0.82 dividend on an annualized basis and a yield of 4.93%. 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.