Prevail Innovative Wealth Advisors LLC Purchases 28,338 Shares of KeyCorp $KEY

Prevail Innovative Wealth Advisors LLC boosted its position in shares of KeyCorp (NYSE:KEY) by 50.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 84,570 shares of the financial services provider’s stock after purchasing an additional 28,338 shares during the quarter. Prevail Innovative Wealth Advisors LLC’s holdings in KeyCorp were worth $1,581,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. B. Metzler seel. Sohn & Co. AG lifted its holdings in shares of KeyCorp by 11.7% in the 3rd quarter. B. Metzler seel. Sohn & Co. AG now owns 66,902 shares of the financial services provider’s stock worth $1,250,000 after buying an additional 7,021 shares during the period. Vinva Investment Management Ltd purchased a new position in shares of KeyCorp during the third quarter valued at $1,383,000. Parallel Advisors LLC raised its holdings in shares of KeyCorp by 14.9% in the third quarter. Parallel Advisors LLC now owns 6,379 shares of the financial services provider’s stock valued at $119,000 after acquiring an additional 827 shares in the last quarter. Meiji Yasuda Life Insurance Co bought a new stake in shares of KeyCorp in the third quarter valued at about $355,000. Finally, Korea Investment CORP lifted its stake in KeyCorp by 117.5% in the third quarter. Korea Investment CORP now owns 972,673 shares of the financial services provider’s stock worth $18,179,000 after acquiring an additional 525,421 shares during the period. 79.69% of the stock is owned by institutional investors.

Insider Activity at KeyCorp

In other news, Director Trina M. Evans sold 32,695 shares of the company’s stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $21.74, for a total transaction of $710,789.30. Following the transaction, the director directly owned 58,719 shares of the company’s stock, valued at approximately $1,276,551.06. This represents a 35.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Andrew J. Paine III sold 65,961 shares of the stock in a transaction on Friday, February 6th. The shares were sold at an average price of $23.23, for a total value of $1,532,274.03. Following the sale, the insider owned 166,583 shares of the company’s stock, valued at approximately $3,869,723.09. This represents a 28.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 161,506 shares of company stock valued at $3,597,481 over the last 90 days. Insiders own 0.52% of the company’s stock.

KeyCorp Price Performance

KEY opened at $19.88 on Monday. The firm has a market capitalization of $21.66 billion, a PE ratio of 13.08, a price-to-earnings-growth ratio of 0.59 and a beta of 1.08. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.83 and a quick ratio of 0.82. The business’s 50-day moving average is $21.44 and its two-hundred day moving average is $19.66. KeyCorp has a 1 year low of $12.73 and a 1 year high of $23.34.

KeyCorp (NYSE:KEY) last released its quarterly earnings results on Tuesday, January 20th. The financial services provider reported $0.41 EPS for the quarter, beating the consensus estimate of $0.39 by $0.02. KeyCorp had a net margin of 15.97% and a return on equity of 10.28%. The business had revenue of $5.45 billion during the quarter, compared to analyst estimates of $1.95 billion. During the same period in the prior year, the firm posted $0.30 earnings per share. The company’s quarterly revenue was up 131.8% on a year-over-year basis. Research analysts anticipate that KeyCorp will post 1.5 earnings per share for the current fiscal year.

KeyCorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Tuesday, March 3rd will be given a dividend of $0.205 per share. The ex-dividend date of this dividend is Tuesday, March 3rd. This represents a $0.82 dividend on an annualized basis and a yield of 4.1%. KeyCorp’s dividend payout ratio is presently 53.95%.

Analyst Upgrades and Downgrades

KEY has been the topic of several recent research reports. Keefe, Bruyette & Woods increased their target price on shares of KeyCorp from $21.00 to $24.00 and gave the stock an “outperform” rating in a report on Wednesday, December 17th. Weiss Ratings raised shares of KeyCorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, February 25th. Citigroup reiterated a “neutral” rating on shares of KeyCorp in a research note on Wednesday, December 31st. Morgan Stanley lifted their price objective on shares of KeyCorp from $24.00 to $26.00 and gave the company an “equal weight” rating in a report on Monday, March 2nd. Finally, Truist Financial boosted their price objective on shares of KeyCorp from $22.00 to $23.00 and gave the stock a “hold” rating in a research note on Monday, January 26th. Twelve equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell 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 $23.03.

KeyCorp Company Profile

KeyCorp is a bank holding company headquartered in Cleveland, Ohio, that operates through its primary banking subsidiary, KeyBank. It provides a broad range of banking and financial services to individual consumers, small businesses, middle-market companies and large corporations. KeyBank’s offerings span traditional deposit and lending products as well as more specialized financial solutions designed for commercial and institutional clients.

The company’s product and service mix includes retail banking products such as checking and savings accounts, consumer and residential mortgage lending, and auto financing.