KeyCorp (NYSE:KEY) Price Target Raised to $23.00 at The Goldman Sachs Group

KeyCorp (NYSE:KEY) had its price objective raised by The Goldman Sachs Group from $20.00 to $23.00 in a research report report published on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the financial services provider’s stock.

Several other research analysts have also commented on KEY. Barclays boosted their price target on KeyCorp from $16.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. DA Davidson increased their price target on shares of KeyCorp from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $18.00 price objective on shares of KeyCorp in a research note on Tuesday, September 10th. Robert W. Baird downgraded shares of KeyCorp from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $18.00 to $17.00 in a research note on Monday, October 14th. Finally, Wells Fargo & Company lifted their price target on shares of KeyCorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.26.

KeyCorp Stock Performance

KEY stock opened at $19.66 on Tuesday. KeyCorp has a 1-year low of $11.64 and a 1-year high of $20.04. The business has a 50-day moving average price of $17.68 and a 200 day moving average price of $16.03. The company has a market capitalization of $19.48 billion, a P/E ratio of 1,965.50, a PEG ratio of 1.08 and a beta of 1.24. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.88 and a quick ratio of 0.88.

KeyCorp (NYSE:KEY) last released its quarterly earnings data on Thursday, October 17th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.03. The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.59 billion. KeyCorp had a net margin of 0.76% and a return on equity of 8.24%. As a group, equities research analysts forecast that KeyCorp will post 1.09 EPS for the current fiscal year.

KeyCorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Tuesday, December 3rd will be given a dividend of $0.205 per share. The ex-dividend date is Tuesday, December 3rd. This represents a $0.82 dividend on an annualized basis and a yield of 4.17%. KeyCorp’s dividend payout ratio is presently 8,200.00%.

Insiders Place Their Bets

In other news, insider Angela G. Mago sold 15,011 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $19.59, for a total value of $294,065.49. Following the sale, the insider now owns 234,582 shares in the company, valued at $4,595,461.38. This represents a 6.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Carlton L. Highsmith sold 9,000 shares of KeyCorp stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $17.14, for a total value of $154,260.00. Following the transaction, the director now owns 37,864 shares of the company’s stock, valued at approximately $648,988.96. This represents a 19.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.67% of the stock is owned by insiders.

Institutional Trading of KeyCorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Financial Advocates Investment Management boosted its stake in shares of KeyCorp by 2.3% during the 3rd quarter. Financial Advocates Investment Management now owns 26,872 shares of the financial services provider’s stock worth $450,000 after acquiring an additional 602 shares in the last quarter. HM Payson & Co. raised its holdings in KeyCorp by 27.0% in the 3rd quarter. HM Payson & Co. now owns 3,060 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 650 shares during the period. Graypoint LLC grew its holdings in KeyCorp by 4.7% in the third quarter. Graypoint LLC now owns 14,954 shares of the financial services provider’s stock valued at $250,000 after purchasing an additional 675 shares during the period. Vontobel Holding Ltd. grew its holdings in KeyCorp by 2.1% in the third quarter. Vontobel Holding Ltd. now owns 33,728 shares of the financial services provider’s stock valued at $565,000 after purchasing an additional 679 shares during the period. Finally, Empirical Finance LLC increased its position in shares of KeyCorp by 2.2% in the third quarter. Empirical Finance LLC now owns 32,361 shares of the financial services provider’s stock valued at $542,000 after buying an additional 705 shares in the last quarter. Institutional investors and hedge funds own 79.69% of the company’s stock.

About KeyCorp

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.