Wedmont Private Capital Purchases New Shares in KeyCorp (NYSE:KEY)

Wedmont Private Capital purchased a new position in shares of KeyCorp (NYSE:KEY) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 10,088 shares of the financial services provider’s stock, valued at approximately $169,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Wolff Wiese Magana LLC lifted its position in shares of KeyCorp by 285.5% during the third quarter. Wolff Wiese Magana LLC now owns 1,542 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 1,142 shares in the last quarter. American Capital Advisory LLC acquired a new stake in shares of KeyCorp in the third quarter valued at approximately $28,000. Larson Financial Group LLC raised its position in KeyCorp by 90.8% in the 3rd quarter. Larson Financial Group LLC now owns 1,929 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 918 shares during the last quarter. Catalyst Capital Advisors LLC acquired a new position in KeyCorp during the 3rd quarter worth $35,000. Finally, Capital Performance Advisors LLP bought a new position in KeyCorp in the 3rd quarter valued at $38,000. Institutional investors own 79.69% of the company’s stock.

KeyCorp Price Performance

KEY opened at $18.32 on Friday. The stock has a market cap of $18.16 billion, a P/E ratio of 1,832.30, a P/E/G ratio of 0.63 and a beta of 1.27. KeyCorp has a 12 month low of $12.94 and a 12 month high of $20.04. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.09. The company has a fifty day simple moving average of $18.18 and a 200 day simple moving average of $16.97.

KeyCorp (NYSE:KEY) last announced its quarterly earnings results on Thursday, October 17th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.03. The company had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.59 billion. KeyCorp had a return on equity of 8.24% and a net margin of 0.76%. On average, research analysts expect that KeyCorp will post 1.1 EPS for the current year.

KeyCorp Announces Dividend

The firm 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 $0.205 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $0.82 annualized dividend and a dividend yield of 4.48%. KeyCorp’s dividend payout ratio is presently 8,200.00%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on KEY. Wells Fargo & Company upped their price target on KeyCorp from $20.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Citigroup downgraded shares of KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 target price on the stock. in a research report on Thursday, November 7th. Keefe, Bruyette & Woods raised their target price on shares of KeyCorp from $19.00 to $22.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Royal Bank of Canada boosted their price target on shares of KeyCorp from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th. Finally, Baird R W cut shares of KeyCorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 14th. Nine equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.44.

Insider Buying and Selling

In other 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 completion of the sale, the insider now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Carlton L. Highsmith sold 9,000 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $17.14, for a total transaction of $154,260.00. Following the completion of the sale, the director now directly owns 37,864 shares in the company, valued at $648,988.96. This represents a 19.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.61% of the stock is owned by company insiders.

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.