Rothschild Investment LLC Raises Holdings in KeyCorp $KEY

Rothschild Investment LLC grew its holdings in KeyCorp (NYSE:KEY) by 592.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 29,748 shares of the financial services provider’s stock after buying an additional 25,451 shares during the quarter. Rothschild Investment LLC’s holdings in KeyCorp were worth $614,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Maseco LLP purchased a new stake in KeyCorp in the 4th quarter worth approximately $27,000. United Community Bank purchased a new stake in KeyCorp in the 3rd quarter worth approximately $27,000. GoalVest Advisory LLC purchased a new stake in KeyCorp in the 4th quarter worth approximately $30,000. Smithfield Trust Co purchased a new stake in KeyCorp in the 4th quarter worth approximately $31,000. Finally, True Wealth Design LLC lifted its holdings in KeyCorp by 1,263.5% in the 4th quarter. True Wealth Design LLC now owns 1,718 shares of the financial services provider’s stock worth $35,000 after buying an additional 1,592 shares during the period. Hedge funds and other institutional investors own 79.69% of the company’s stock.

Wall Street Analyst Weigh In

KEY has been the subject of several research analyst reports. Susquehanna increased their price objective on KeyCorp from $300.00 to $415.00 and gave the stock a “positive” rating in a report on Monday, May 18th. The Goldman Sachs Group increased their price objective on KeyCorp from $25.00 to $26.00 and gave the stock a “buy” rating in a report on Friday, April 17th. DA Davidson increased their price objective on KeyCorp from $26.00 to $27.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Jefferies Financial Group increased their price objective on KeyCorp from $21.00 to $23.00 and gave the stock a “hold” rating in a report on Friday, April 17th. Finally, Royal Bank Of Canada increased their price objective on KeyCorp from $22.00 to $24.00 and gave the stock an “outperform” rating in a report on Friday, April 17th. Thirteen investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $42.78.

KeyCorp Stock Down 0.1%

KEY stock opened at $21.33 on Friday. KeyCorp has a 1-year low of $15.47 and a 1-year high of $23.34. The business has a fifty day moving average price of $21.13 and a 200-day moving average price of $20.67. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.83 and a quick ratio of 0.83. The stock has a market capitalization of $23.13 billion, a P/E ratio of 13.09, a P/E/G ratio of 0.68 and a beta of 1.06.

KeyCorp (NYSE:KEY) last posted its quarterly earnings results on Thursday, April 16th. The financial services provider reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.03. KeyCorp had a return on equity of 10.80% and a net margin of 17.03%.The firm had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.93 billion. During the same quarter in the previous year, the business earned $0.38 earnings per share. The company’s revenue was up 10.2% on a year-over-year basis. Equities analysts forecast that KeyCorp will post 1.83 earnings per share for the current fiscal year.

KeyCorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Tuesday, June 2nd will be paid a $0.205 dividend. The ex-dividend date is Tuesday, June 2nd. This represents a $0.82 annualized dividend and a dividend yield of 3.8%. KeyCorp’s payout ratio is currently 50.31%.

KeyCorp announced that its Board of Directors has approved a stock buyback program on Wednesday, May 13th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the financial services provider to reacquire up to 13% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at KeyCorp

In other news, insider Angela G. Mago sold 22,826 shares of the business’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $21.66, for a total value of $494,411.16. Following the completion of the transaction, the insider owned 281,564 shares in the company, valued at $6,098,676.24. The trade was a 7.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.56% of the stock is owned by corporate insiders.

About KeyCorp

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.