Carnegie Investment Counsel Has $325,000 Position in KeyCorp (NYSE:KEY)

Carnegie Investment Counsel reduced its holdings in shares of KeyCorp (NYSE:KEY) by 8.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 18,934 shares of the financial services provider’s stock after selling 1,800 shares during the period. Carnegie Investment Counsel’s holdings in KeyCorp were worth $325,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. lifted its holdings in KeyCorp by 14.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 657,913 shares of the financial services provider’s stock valued at $10,928,000 after purchasing an additional 85,052 shares during the last quarter. MBB Public Markets I LLC bought a new position in KeyCorp during the 2nd quarter valued at about $981,000. Dai ichi Life Insurance Company Ltd bought a new position in KeyCorp during the 3rd quarter valued at about $798,000. Prospector Partners LLC bought a new position in KeyCorp during the 3rd quarter valued at about $9,630,000. Finally, Natixis Advisors LLC lifted its holdings in KeyCorp by 17.9% during the 3rd quarter. Natixis Advisors LLC now owns 689,469 shares of the financial services provider’s stock valued at $11,549,000 after purchasing an additional 104,689 shares during the last quarter. 79.69% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on KEY shares. DA Davidson lifted their price target on shares of KeyCorp from $19.00 to $20.00 and gave the company a “buy” rating in a report on Monday, October 21st. Baird R W downgraded shares of KeyCorp from a “strong-buy” rating to a “hold” rating in a report on Monday, October 14th. Citigroup downgraded shares of KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 target price for the company. in a research note on Thursday, November 7th. UBS Group boosted their target price on shares of KeyCorp from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Finally, Piper Sandler boosted their target price on shares of KeyCorp from $19.00 to $22.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Nine analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, KeyCorp currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.44.

Insider Activity at KeyCorp

In other news, Director Carlton L. Highsmith sold 9,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $17.14, for a total value of $154,260.00. Following the completion of the transaction, the director now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Angela G. Mago sold 15,011 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now owns 234,582 shares of the company’s stock, valued at $4,595,461.38. This trade represents a 6.01 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.67% of the company’s stock.

KeyCorp Stock Up 2.7 %

Shares of NYSE 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. The firm has a 50 day moving average price of $18.18 and a 200 day moving average price of $16.99. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.88 and a current ratio of 0.88. KeyCorp has a 52-week low of $12.94 and a 52-week high of $20.04.

KeyCorp (NYSE:KEY) last issued its quarterly earnings data on Thursday, October 17th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.03. The firm had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.59 billion. KeyCorp had a net margin of 0.76% and a return on equity of 8.24%. Analysts expect that KeyCorp will post 1.1 EPS for the current year.

KeyCorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Tuesday, March 4th will be issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 4.48%. The ex-dividend date of this dividend is Tuesday, March 4th. KeyCorp’s dividend payout ratio is currently 8,200.00%.

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.