Arkadios Wealth Advisors Purchases New Shares in KeyCorp (NYSE:KEY)

Arkadios Wealth Advisors purchased a new stake in shares of KeyCorp (NYSE:KEY) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 13,462 shares of the financial services provider’s stock, valued at approximately $191,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of KEY. Norges Bank purchased a new stake in KeyCorp during the 4th quarter valued at $128,203,000. Ceredex Value Advisors LLC increased its stake in KeyCorp by 112.4% in the second quarter. Ceredex Value Advisors LLC now owns 6,647,393 shares of the financial services provider’s stock worth $94,459,000 after purchasing an additional 3,517,755 shares during the period. Westfield Capital Management Co. LP purchased a new stake in KeyCorp in the first quarter worth $42,857,000. Balyasny Asset Management L.P. increased its stake in KeyCorp by 26,297.7% in the fourth quarter. Balyasny Asset Management L.P. now owns 2,708,664 shares of the financial services provider’s stock worth $39,005,000 after purchasing an additional 2,698,403 shares during the period. Finally, National Bank of Canada FI increased its stake in KeyCorp by 1,051.3% in the first quarter. National Bank of Canada FI now owns 2,569,771 shares of the financial services provider’s stock worth $38,752,000 after purchasing an additional 2,346,565 shares during the period. Hedge funds and other institutional investors own 79.69% of the company’s stock.

Insiders Place Their Bets

In other KeyCorp news, Director Carlton L. Highsmith sold 10,000 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $16.21, for a total value of $162,100.00. Following the completion of the sale, the director now owns 46,864 shares of the company’s stock, valued at $759,665.44. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.61% of the company’s stock.

Analyst Upgrades and Downgrades

KEY has been the topic of a number of recent analyst reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $17.00 target price on shares of KeyCorp in a research note on Tuesday, August 13th. Evercore ISI cut their price target on KeyCorp from $17.50 to $16.50 and set an “outperform” rating on the stock in a research note on Tuesday, June 25th. JPMorgan Chase & Co. cut their price target on KeyCorp from $17.50 to $16.50 and set a “neutral” rating on the stock in a research note on Thursday, June 27th. Morgan Stanley raised their price target on KeyCorp from $18.00 to $20.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 14th. Finally, Jefferies Financial Group raised their price target on KeyCorp from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Monday, August 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 company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $16.65.

KeyCorp Price Performance

Shares of KEY stock opened at $17.06 on Friday. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.85 and a quick ratio of 0.85. The company has a market cap of $16.09 billion, a P/E ratio of 21.59, a PEG ratio of 0.94 and a beta of 1.26. The stock’s 50-day moving average is $15.39 and its 200 day moving average is $14.86. KeyCorp has a 1-year low of $9.50 and a 1-year high of $17.20.

KeyCorp (NYSE:KEY) last issued its quarterly earnings results on Thursday, July 18th. The financial services provider reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.01. The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter last year, the company earned $0.27 earnings per share. Research analysts predict that KeyCorp will post 1.09 earnings per share for the current fiscal year.

KeyCorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Tuesday, August 27th will be issued a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 4.81%. The ex-dividend date of this dividend is Tuesday, August 27th. 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.