KeyCorp (NYSE:KEY) Shares Bought by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. raised its position in KeyCorp (NYSE:KEY) by 4.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,922,921 shares of the financial services provider’s stock after acquiring an additional 78,856 shares during the period. Envestnet Asset Management Inc.’s holdings in KeyCorp were worth $27,325,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Ontario Teachers Pension Plan Board boosted its stake in KeyCorp by 8.8% in the first quarter. Ontario Teachers Pension Plan Board now owns 21,690,319 shares of the financial services provider’s stock valued at $342,924,000 after acquiring an additional 1,748,633 shares in the last quarter. Earnest Partners LLC lifted its stake in shares of KeyCorp by 12.7% during the first quarter. Earnest Partners LLC now owns 10,090,594 shares of the financial services provider’s stock worth $159,532,000 after buying an additional 1,137,374 shares during the period. Ceredex Value Advisors LLC lifted its stake in shares of KeyCorp by 112.4% during 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 buying an additional 3,517,755 shares during the period. Azora Capital LP lifted its stake in shares of KeyCorp by 158.2% during the fourth quarter. Azora Capital LP now owns 3,598,774 shares of the financial services provider’s stock worth $51,822,000 after buying an additional 2,204,720 shares during the period. Finally, Sei Investments Co. lifted its stake in shares of KeyCorp by 5.7% during the first quarter. Sei Investments Co. now owns 3,127,677 shares of the financial services provider’s stock worth $49,449,000 after buying an additional 167,567 shares during the period. 79.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at KeyCorp

In other news, Director Carlton L. Highsmith sold 10,000 shares of the business’s stock in a transaction dated 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 owns 46,864 shares of the company’s stock, valued at $759,665.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on KEY. Royal Bank of Canada reiterated an “outperform” rating and set a $17.00 price objective on shares of KeyCorp in a research note on Tuesday, August 13th. UBS Group downgraded shares of KeyCorp from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $16.00 to $15.00 in a research note on Monday, July 8th. Jefferies Financial Group lifted their price objective on shares of KeyCorp from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Monday, August 19th. DA Davidson lifted their price objective on shares of KeyCorp from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. Finally, Citigroup boosted their target price on shares of KeyCorp from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $16.65.

KeyCorp Stock Down 1.3 %

KEY opened at $17.12 on Friday. KeyCorp has a fifty-two week low of $9.50 and a fifty-two week high of $17.39. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.85 and a current ratio of 0.85. The company has a fifty day moving average of $16.05 and a two-hundred day moving average of $15.10. The stock has a market capitalization of $16.14 billion, a price-to-earnings ratio of 21.67, a PEG ratio of 0.90 and a beta of 1.25.

KeyCorp (NYSE:KEY) last released its earnings results on Thursday, July 18th. The financial services provider reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.27 earnings per share. On average, research analysts expect that KeyCorp will post 1.09 earnings per share for the current year.

KeyCorp Dividend Announcement

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

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.