BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Buys 65,858 Shares of KeyCorp (NYSE:KEY)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in KeyCorp (NYSE:KEY) by 58.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 177,640 shares of the financial services provider’s stock after buying an additional 65,858 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in KeyCorp were worth $2,524,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of KEY. Pathway Financial Advisers LLC acquired a new stake in shares of KeyCorp during the 1st quarter valued at $25,000. Crewe Advisors LLC acquired a new stake in shares of KeyCorp during the first quarter valued at about $32,000. Quarry LP bought a new stake in shares of KeyCorp during the fourth quarter worth about $38,000. Fidelis Capital Partners LLC acquired a new position in shares of KeyCorp in the first quarter valued at approximately $39,000. Finally, Centerpoint Advisors LLC raised its holdings in KeyCorp by 127.7% in the 1st quarter. Centerpoint Advisors LLC now owns 3,757 shares of the financial services provider’s stock valued at $59,000 after buying an additional 2,107 shares during the last quarter. Institutional investors own 79.69% of the company’s stock.

KeyCorp Trading Up 0.4 %

NYSE KEY opened at $16.61 on Friday. KeyCorp has a 52 week low of $9.50 and a 52 week high of $17.39. The business has a 50 day moving average price of $16.13 and a 200-day moving average price of $15.16. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.37. The company has a market cap of $15.66 billion, a price-to-earnings ratio of 21.03, a P/E/G ratio of 0.92 and a beta of 1.25.

KeyCorp (NYSE:KEY) last released its quarterly earnings data on Thursday, July 18th. The financial services provider reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.01. The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.52 billion. KeyCorp had a net margin of 7.35% and a return on equity of 8.64%. The business’s revenue was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.27 earnings per share. As a group, equities analysts expect that KeyCorp will post 1.09 earnings per share for the current fiscal year.

KeyCorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Tuesday, August 27th were paid a dividend of $0.205 per share. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $0.82 dividend on an annualized basis and a yield of 4.94%. KeyCorp’s dividend payout ratio (DPR) is currently 103.80%.

Insiders Place Their Bets

In other news, Director Carlton L. Highsmith sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $16.21, for a total value of $162,100.00. Following the transaction, the director now owns 46,864 shares in the company, 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.

Analyst Ratings Changes

Several brokerages have issued reports on KEY. UBS Group cut shares of KeyCorp from a “buy” rating to a “neutral” rating and decreased their price target for the company from $16.00 to $15.00 in a research report on Monday, July 8th. Wedbush boosted their price objective on shares of KeyCorp from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 24th. DA Davidson raised their target price on KeyCorp from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. Jefferies Financial Group lifted their target price on KeyCorp from $18.00 to $19.00 and gave the stock a “buy” rating in a report on Monday, August 19th. Finally, Evercore ISI decreased their price target on KeyCorp from $17.50 to $16.50 and set an “outperform” rating for the company in a research note on Tuesday, June 25th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.71.

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.