Kingsview Wealth Management LLC Purchases 5,119 Shares of KeyCorp $KEY

by · The Cerbat Gem

Kingsview Wealth Management LLC grew its position in KeyCorp (NYSE:KEY – Free Report) by 32.9% in the second quarter, HoldingsChannel.com reports. The fund owned 20,687 shares of the financial services provider’s stock after buying an additional 5,119 shares during the period. Kingsview Wealth Management LLC’s holdings in KeyCorp were worth $360,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of KEY. Brighton Jones LLC bought a new stake in shares of KeyCorp in the 4th quarter valued at about $476,000. Kestra Private Wealth Services LLC increased its position in KeyCorp by 24.9% during the first quarter. Kestra Private Wealth Services LLC now owns 18,389 shares of the financial services provider’s stock worth $294,000 after buying an additional 3,666 shares during the last quarter. IFP Advisors Inc raised its stake in KeyCorp by 23.7% in the first quarter. IFP Advisors Inc now owns 20,108 shares of the financial services provider’s stock valued at $325,000 after buying an additional 3,848 shares during the period. Pinnacle Associates Ltd. lifted its position in shares of KeyCorp by 72.9% in the first quarter. Pinnacle Associates Ltd. now owns 29,910 shares of the financial services provider’s stock valued at $478,000 after buying an additional 12,606 shares during the last quarter. Finally, Carnegie Investment Counsel boosted its stake in shares of KeyCorp by 4.8% during the 1st quarter. Carnegie Investment Counsel now owns 19,834 shares of the financial services provider’s stock worth $317,000 after acquiring an additional 900 shares during the period. 79.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Andrew J. Paine III sold 44,953 shares of the firm’s stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $19.29, for a total value of $867,143.37. Following the transaction, the insider owned 245,044 shares in the company, valued at approximately $4,726,898.76. This trade represents a 15.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.52% of the company’s stock.

KeyCorp Price Performance

Shares of KeyCorp stock opened at $17.81 on Friday. KeyCorp has a twelve month low of $12.73 and a twelve month high of $20.04. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.62. The company has a 50-day simple moving average of $17.97 and a two-hundred day simple moving average of $17.64. The stock has a market capitalization of $19.46 billion, a price-to-earnings ratio of 21.99, a price-to-earnings-growth ratio of 0.52 and a beta of 1.18.

KeyCorp (NYSE:KEY – Get Free Report) last announced its earnings results on Thursday, October 16th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.03. KeyCorp had a net margin of 10.08% and a return on equity of 10.14%. The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same quarter in the prior year, the business posted ($0.47) EPS. The business’s revenue was up 172.7% compared to the same quarter last year. Analysts forecast that KeyCorp will post 1.5 EPS for the current year.

KeyCorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Tuesday, December 2nd will be given a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date is Tuesday, December 2nd. KeyCorp’s dividend payout ratio is presently 101.23%.

Wall Street Analyst Weigh In

KEY has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods increased their price target on KeyCorp from $20.50 to $21.00 and gave the company an “outperform” rating in a research note on Friday, October 10th. DA Davidson dropped their price objective on shares of KeyCorp from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Friday, October 17th. JPMorgan Chase & Co. lifted their target price on shares of KeyCorp from $19.00 to $19.50 and gave the stock a “neutral” rating in a report on Friday, October 10th. Wells Fargo & Company increased their price target on shares of KeyCorp from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, October 3rd. Finally, TD Cowen raised their price objective on shares of KeyCorp from $20.00 to $21.00 and gave the stock a “hold” rating in a research report on Friday, October 3rd. Ten analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $20.75.

Read Our Latest Research Report on KeyCorp

KeyCorp Company Profile

(Free Report)

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.

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