AE Wealth Management LLC Purchases 52,191 Shares of KeyCorp (NYSE:KEY)

AE Wealth Management LLC lifted its stake in KeyCorp (NYSE:KEY) by 4.6% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 1,197,392 shares of the financial services provider’s stock after buying an additional 52,191 shares during the period. AE Wealth Management LLC’s holdings in KeyCorp were worth $17,015,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Intech Investment Management LLC increased its holdings in shares of KeyCorp by 4,423.1% in the second quarter. Intech Investment Management LLC now owns 592,893 shares of the financial services provider’s stock worth $8,425,000 after buying an additional 579,785 shares during the period. MQS Management LLC purchased a new position in KeyCorp during the 2nd quarter valued at about $145,000. Seven Eight Capital LP increased its holdings in KeyCorp by 56.5% during the 2nd quarter. Seven Eight Capital LP now owns 147,549 shares of the financial services provider’s stock valued at $2,097,000 after purchasing an additional 53,244 shares during the period. Hsbc Holdings PLC increased its holdings in KeyCorp by 20.9% during the 2nd quarter. Hsbc Holdings PLC now owns 2,669,749 shares of the financial services provider’s stock valued at $37,750,000 after purchasing an additional 460,924 shares during the period. Finally, Elo Mutual Pension Insurance Co purchased a new position in KeyCorp during the 2nd quarter valued at about $1,122,000. Hedge funds and other institutional investors own 79.69% of the company’s stock.

KeyCorp Stock Performance

KEY stock opened at $17.12 on Friday. The stock has a market capitalization of $16.14 billion, a PE ratio of 21.67, a price-to-earnings-growth ratio of 0.90 and a beta of 1.25. KeyCorp has a 12-month low of $9.50 and a 12-month high of $17.39. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.37. The stock’s 50 day simple moving average is $16.05 and its 200 day simple moving average is $15.10.

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, beating analysts’ consensus estimates of $0.24 by $0.01. The business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.52 billion. KeyCorp had a net margin of 7.35% and a return on equity of 8.64%. The company’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.27 EPS. As a group, research analysts forecast that KeyCorp will post 1.09 earnings per share for the current fiscal year.

KeyCorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Tuesday, August 27th were paid a dividend of $0.205 per share. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $0.82 dividend on an annualized basis and a yield of 4.79%. KeyCorp’s dividend payout ratio is presently 103.80%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Jefferies Financial Group boosted their price target on KeyCorp from $18.00 to $19.00 and gave the company a “buy” rating in a report on Monday, August 19th. DA Davidson upped their target price on KeyCorp from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Friday, July 19th. Citigroup upped their target price on KeyCorp from $18.00 to $19.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th. Wedbush upped their target price on KeyCorp from $16.00 to $17.00 and gave the stock a “neutral” rating in a report on Tuesday, August 13th. Finally, JPMorgan Chase & Co. reduced their target price on KeyCorp from $17.50 to $16.50 and set a “neutral” rating on the stock in a report on Thursday, June 27th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $16.65.

Insider Buying and Selling at KeyCorp

In other KeyCorp news, Director Carlton L. Highsmith sold 10,000 shares of the business’s 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 in the company, valued at approximately $759,665.44. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.61% of the company’s stock.

KeyCorp Company 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.