SRS Capital Advisors Inc. Invests $187,000 in KeyCorp (NYSE:KEY)

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SRS Capital Advisors Inc. bought a new position in shares of KeyCorp (NYSE:KEY) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 10,529 shares of the financial services provider’s stock, valued at approximately $187,000.

Other hedge funds also recently made changes to their positions in the company. Corient Capital Partners LLC lifted its holdings in KeyCorp by 11.0% in the second quarter. Corient Capital Partners LLC now owns 12,506 shares of the financial services provider’s stock valued at $222,000 after buying an additional 1,242 shares during the period. Sawtooth Solutions LLC increased its stake in KeyCorp by 618.3% in the second quarter. Sawtooth Solutions LLC now owns 91,224 shares of the financial services provider’s stock valued at $1,620,000 after purchasing an additional 78,524 shares in the last quarter. Acadian Asset Management LLC increased its stake in KeyCorp by 52.1% in the second quarter. Acadian Asset Management LLC now owns 150,364 shares of the financial services provider’s stock valued at $2,668,000 after purchasing an additional 51,503 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its stake in KeyCorp by 294.4% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 19,229 shares of the financial services provider’s stock valued at $341,000 after purchasing an additional 14,354 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in KeyCorp by 11.3% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 152,261 shares of the financial services provider’s stock valued at $2,703,000 after purchasing an additional 15,404 shares in the last quarter. Institutional investors own 79.60% of the company’s stock.

Several equities research analysts have commented on KEY shares. Credit Suisse Group raised shares of KeyCorp from an “average” rating to a “buy” rating and set a $40.00 target price for the company in a research note on Wednesday, August 7th. GMP Securities reaffirmed an “average” rating and issued a $34.50 target price on shares of KeyCorp in a research note on Friday, May 17th. Jefferies Financial Group upped their target price on shares of KeyCorp from $20.00 to $18.50 and gave the company a “buy” rating in a research note on Monday, May 6th. Nomura set a $18.00 target price on shares of KeyCorp and gave the company a “hold” rating in a research note on Friday, July 26th. Finally, BMO Capital Markets upped their target price on shares of KeyCorp from $19.00 to $20.00 and gave the company a “market perform” rating in a research note on Wednesday, July 24th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $23.88.

In related news, insider Amy G. Brady sold 13,238 shares of the firm’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $17.00, for a total value of $225,046.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Andrew J. Paine III sold 99,999 shares of the firm’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $18.26, for a total transaction of $1,825,981.74. Following the completion of the transaction, the insider now directly owns 85,469 shares of the company’s stock, valued at approximately $1,560,663.94. The disclosure for this sale can be found here. 0.08% of the stock is owned by corporate insiders.

Shares of KEY stock traded up $0.34 during trading hours on Thursday, hitting $16.49. 202,333 shares of the company were exchanged, compared to its average volume of 9,279,205. The business has a 50 day moving average of $17.07 and a two-hundred day moving average of $17.00. The company has a current ratio of 0.91, a quick ratio of 0.89 and a debt-to-equity ratio of 0.95. KeyCorp has a 52 week low of $13.65 and a 52 week high of $21.50. The company has a market capitalization of $16.41 billion, a PE ratio of 9.53, a PEG ratio of 2.73 and a beta of 1.24.

KeyCorp (NYSE:KEY) last issued its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.44. KeyCorp had a net margin of 23.15% and a return on equity of 12.82%. The company had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.62 billion. During the same quarter in the prior year, the firm earned $0.44 earnings per share. The firm’s revenue was down 2.2% compared to the same quarter last year. On average, research analysts forecast that KeyCorp will post 1.79 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Tuesday, August 27th will be given a dividend of $0.185 per share. This is an increase from KeyCorp’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Monday, August 26th. This represents a $0.74 annualized dividend and a dividend yield of 4.49%. KeyCorp’s dividend payout ratio is currently 42.77%.

KeyCorp Profile

KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking services in the United States. The company's Key Community Bank segment offers various deposit and investment products, personal finance services, residential mortgages, home equity loans, credit cards, and installment loans.

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Institutional Ownership by Quarter for KeyCorp (NYSE:KEY)

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