KeyCorp’s (KEY) Neutral Rating Reaffirmed at JPMorgan Chase & Co.

JPMorgan Chase & Co. reissued their neutral rating on shares of KeyCorp (NYSE:KEY) in a report released on Monday, MarketBeat Ratings reports. JPMorgan Chase & Co. currently has a $18.50 target price on the financial services provider’s stock.

A number of other research analysts have also commented on the company. Piper Sandler raised their price target on KeyCorp from $19.00 to $22.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Robert W. Baird lowered shares of KeyCorp from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $18.00 to $17.00 in a research note on Monday, October 14th. The Goldman Sachs Group raised their price objective on shares of KeyCorp from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Keefe, Bruyette & Woods decreased their price target on KeyCorp from $22.00 to $21.00 and set an “outperform” rating for the company in a research note on Wednesday, January 22nd. Finally, UBS Group upped their price objective on KeyCorp from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $19.69.

KeyCorp Stock Performance

Shares of NYSE KEY opened at $17.51 on Monday. KeyCorp has a 12-month low of $13.10 and a 12-month high of $20.04. The company has a market cap of $17.35 billion, a PE ratio of -58.35, a P/E/G ratio of 0.66 and a beta of 1.27. The stock has a 50 day simple moving average of $17.89 and a 200-day simple moving average of $17.21. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.77.

KeyCorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Tuesday, March 4th will be given a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 4.68%. The ex-dividend date is Tuesday, March 4th. KeyCorp’s payout ratio is presently -273.33%.

Insiders Place Their Bets

In other KeyCorp news, insider Angela G. Mago sold 15,011 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $19.59, for a total transaction of $294,065.49. Following the transaction, the insider now directly owns 234,582 shares of the company’s stock, valued at $4,595,461.38. This represents a 6.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.61% of the company’s stock.

Institutional Trading of KeyCorp

Several large investors have recently made changes to their positions in the stock. Financial Advocates Investment Management lifted its position in KeyCorp by 2.3% during the third quarter. Financial Advocates Investment Management now owns 26,872 shares of the financial services provider’s stock worth $450,000 after purchasing an additional 602 shares during the period. HM Payson & Co. boosted its stake in KeyCorp by 27.0% in the third quarter. HM Payson & Co. now owns 3,060 shares of the financial services provider’s stock valued at $51,000 after buying an additional 650 shares in the last quarter. Graypoint LLC raised its stake in KeyCorp by 4.7% during the third quarter. Graypoint LLC now owns 14,954 shares of the financial services provider’s stock worth $250,000 after acquiring an additional 675 shares in the last quarter. Vontobel Holding Ltd. lifted its holdings in shares of KeyCorp by 2.1% in the third quarter. Vontobel Holding Ltd. now owns 33,728 shares of the financial services provider’s stock worth $565,000 after acquiring an additional 679 shares during the last quarter. Finally, Ballentine Partners LLC boosted its stake in shares of KeyCorp by 5.7% in the 4th quarter. Ballentine Partners LLC now owns 12,855 shares of the financial services provider’s stock valued at $220,000 after purchasing an additional 692 shares in the last quarter. Institutional investors 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.