Brooklyn Investment Group Acquires 1,006 Shares of KeyCorp (NYSE:KEY)

Brooklyn Investment Group increased its holdings in shares of KeyCorp (NYSE:KEY) by 20.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,814 shares of the financial services provider’s stock after purchasing an additional 1,006 shares during the period. Brooklyn Investment Group’s holdings in KeyCorp were worth $100,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Financial Advocates Investment Management lifted its position in shares of KeyCorp by 2.3% during the 3rd quarter. Financial Advocates Investment Management now owns 26,872 shares of the financial services provider’s stock valued at $450,000 after buying an additional 602 shares in the last quarter. HM Payson & Co. raised its position in KeyCorp by 27.0% during the third quarter. HM Payson & Co. now owns 3,060 shares of the financial services provider’s stock worth $51,000 after acquiring an additional 650 shares during the period. Graypoint LLC grew its position in shares of KeyCorp by 4.7% in the third quarter. Graypoint LLC now owns 14,954 shares of the financial services provider’s stock valued at $250,000 after purchasing an additional 675 shares during the period. Vontobel Holding Ltd. grew its position 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 valued at $565,000 after purchasing an additional 679 shares during the period. Finally, Empirical Finance LLC increased its stake in shares of KeyCorp by 2.2% during the third quarter. Empirical Finance LLC now owns 32,361 shares of the financial services provider’s stock worth $542,000 after purchasing an additional 705 shares in the last quarter. 79.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on KEY shares. Truist Financial assumed coverage on KeyCorp in a research note on Tuesday, January 7th. They set a “hold” rating and a $19.00 price objective for the company. Royal Bank of Canada boosted their price target on KeyCorp from $17.00 to $18.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. Wells Fargo & Company raised their price objective on KeyCorp from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Keefe, Bruyette & Woods upped their target price on shares of KeyCorp from $19.00 to $22.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Finally, Evercore ISI raised their price target on shares of KeyCorp from $18.50 to $20.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Nine investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $19.44.

KeyCorp Stock Performance

NYSE KEY opened at $18.32 on Monday. The stock has a fifty day simple moving average of $18.18 and a 200-day simple moving average of $17.01. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.09. The stock has a market cap of $18.16 billion, a PE ratio of 1,832.30, a P/E/G ratio of 0.63 and a beta of 1.27. KeyCorp has a twelve month low of $12.94 and a twelve month high of $20.04.

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

KeyCorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th will be given a $0.205 dividend. 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 payout ratio is 8,200.00%.

Insider Buying and Selling at KeyCorp

In related news, 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 sale, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Carlton L. Highsmith sold 9,000 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $17.14, for a total transaction of $154,260.00. Following the sale, the director now owns 37,864 shares in the company, valued at approximately $648,988.96. This trade represents a 19.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.67% of the stock is owned by corporate 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.