AlphaCrest Capital Management LLC decreased its holdings in shares of KeyCorp (NYSE:KEY – Get Rating) by 27.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 113,618 shares of the financial services provider’s stock after selling 44,009 shares during the quarter. AlphaCrest Capital Management LLC’s holdings in KeyCorp were worth $1,958,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cetera Investment Advisers grew its stake in shares of KeyCorp by 159.9% in the second quarter. Cetera Investment Advisers now owns 47,898 shares of the financial services provider’s stock valued at $825,000 after buying an additional 29,471 shares in the last quarter. Cetera Advisor Networks LLC grew its stake in shares of KeyCorp by 103.5% in the second quarter. Cetera Advisor Networks LLC now owns 25,927 shares of the financial services provider’s stock valued at $447,000 after buying an additional 13,187 shares in the last quarter. Checchi Capital Advisers LLC grew its stake in shares of KeyCorp by 17.9% in the second quarter. Checchi Capital Advisers LLC now owns 12,474 shares of the financial services provider’s stock valued at $228,000 after buying an additional 1,890 shares in the last quarter. O Shaughnessy Asset Management LLC grew its stake in shares of KeyCorp by 7.2% in the second quarter. O Shaughnessy Asset Management LLC now owns 2,945,082 shares of the financial services provider’s stock valued at $50,744,000 after buying an additional 197,473 shares in the last quarter. Finally, Perigon Wealth Management LLC grew its stake in shares of KeyCorp by 17.3% in the second quarter. Perigon Wealth Management LLC now owns 27,561 shares of the financial services provider’s stock valued at $475,000 after buying an additional 4,056 shares in the last quarter. Institutional investors and hedge funds own 83.58% of the company’s stock.
Insiders Place Their Bets
In other news, Director Carlton L. Highsmith sold 5,200 shares of the business’s stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $17.59, for a total value of $91,468.00. Following the completion of the sale, the director now directly owns 64,139 shares of the company’s stock, valued at approximately $1,128,205.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.54% of the stock is owned by company insiders.
KeyCorp Stock Up 0.1 %
KeyCorp (NYSE:KEY – Get Rating) last announced its quarterly earnings results on Thursday, October 20th. The financial services provider reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.03). KeyCorp had a return on equity of 15.81% and a net margin of 26.66%. During the same period in the previous year, the company earned $0.65 EPS. On average, analysts forecast that KeyCorp will post 2.13 earnings per share for the current fiscal year.
KeyCorp Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Tuesday, November 29th will be issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 4.33%. This is an increase from KeyCorp’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Monday, November 28th. KeyCorp’s payout ratio is 35.78%.
Analyst Upgrades and Downgrades
A number of brokerages have recently weighed in on KEY. StockNews.com began coverage on KeyCorp in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. Morgan Stanley dropped their price objective on KeyCorp from $23.00 to $22.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 5th. Wedbush reaffirmed a “neutral” rating and issued a $18.00 price objective on shares of KeyCorp in a research note on Wednesday, September 28th. TheStreet upgraded KeyCorp from a “c+” rating to a “b” rating in a report on Thursday, November 10th. Finally, Piper Sandler decreased their target price on KeyCorp to $16.50 in a report on Thursday, September 29th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $21.64.
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; and personal finance and financial wellness, student loan refinancing, mortgage and home equity, lending, credit card, treasury, business advisory, wealth management, asset management, investment, cash management, portfolio management, and trust and related services to individuals and small and medium-sized businesses.
- Get a free copy of the StockNews.com research report on KeyCorp (KEY)
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