Envestnet Portfolio Solutions Inc. Has $833,000 Stock Position in KeyCorp (NYSE:KEY)

Envestnet Portfolio Solutions Inc. lifted its stake in shares of KeyCorp (NYSE:KEY) by 3.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,601 shares of the financial services provider’s stock after purchasing an additional 1,927 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in KeyCorp were worth $833,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Pathway Financial Advisers LLC bought a new stake in shares of KeyCorp during the first quarter valued at approximately $25,000. First United Bank & Trust bought a new stake in KeyCorp during the 4th quarter valued at $29,000. Crewe Advisors LLC bought a new stake in KeyCorp during the 1st quarter valued at $32,000. Quarry LP acquired a new position in KeyCorp during the fourth quarter worth $38,000. Finally, Criterion Capital Advisors LLC bought a new position in shares of KeyCorp in the fourth quarter valued at $39,000. 79.69% of the stock is currently owned by institutional investors and hedge funds.

KeyCorp Stock Performance

Shares of KEY stock opened at $16.39 on Monday. KeyCorp has a 12 month low of $9.50 and a 12 month high of $17.09. The stock has a market capitalization of $15.45 billion, a P/E ratio of 20.75, a PEG ratio of 0.87 and a beta of 1.26. 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 firm’s 50 day moving average is $14.76 and its 200 day moving average is $14.68.

KeyCorp (NYSE:KEY) last posted its quarterly 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 firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.52 billion. KeyCorp had a return on equity of 8.64% and a net margin of 7.35%. During the same period last year, the company earned $0.27 earnings per share. The business’s revenue for the quarter was down 4.3% on a year-over-year basis. On average, sell-side analysts anticipate that KeyCorp will post 1.1 earnings per share for the current year.

KeyCorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Tuesday, August 27th will be issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 5.00%. The ex-dividend date is Tuesday, August 27th. KeyCorp’s payout ratio is presently 103.80%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on KEY shares. Wedbush boosted their target price on shares of KeyCorp from $16.00 to $17.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. JPMorgan Chase & Co. cut their target price on KeyCorp from $17.50 to $16.50 and set a “neutral” rating on the stock in a research report on Thursday, June 27th. DA Davidson raised their price objective on KeyCorp from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Friday, July 19th. UBS Group lowered shares of KeyCorp from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $16.00 to $15.00 in a research note on Monday, July 8th. Finally, Evercore ISI reduced their price objective on shares of KeyCorp from $17.50 to $16.50 and set an “outperform” rating for the company in a research report on Tuesday, June 25th. One investment 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. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $16.59.

KeyCorp 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.