Osmosis Investment Management UK Ltd Purchases Shares of 42,611 KeyCorp $KEY

Osmosis Investment Management UK Ltd purchased a new position in KeyCorp (NYSE:KEY) in the 2nd quarter, HoldingsChannel reports. The fund purchased 42,611 shares of the financial services provider’s stock, valued at approximately $982,000.

A number of other large investors have also modified their holdings of KEY. DV Equities LLC acquired a new stake in shares of KeyCorp in the fourth quarter valued at $27,000. N.E.W. Advisory Services LLC acquired a new position in KeyCorp during the 2nd quarter worth $30,000. Silvant Capital Management LLC acquired a new position in KeyCorp during the 2nd quarter worth $30,000. Smithfield Trust Co purchased a new stake in KeyCorp during the 4th quarter worth about $31,000. Finally, Keating Financial Advisory Services Inc. purchased a new stake in KeyCorp during the 2nd quarter worth about $31,000. Hedge funds and other institutional investors own 79.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. TD Cowen reaffirmed a “buy” rating and issued a $68.00 price target on shares of KeyCorp in a research report on Tuesday, June 23rd. Stephens initiated coverage on KeyCorp in a research report on Monday, June 15th. They set an “overweight” rating and a $26.00 price objective for the company. Keefe, Bruyette & Woods upped their target price on shares of KeyCorp from $25.00 to $26.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 22nd. Argus raised shares of KeyCorp to a “strong-buy” rating in a report on Wednesday, July 29th. Finally, Truist Financial lifted their price target on shares of KeyCorp from $23.00 to $24.00 and gave the stock a “hold” rating in a research note on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $49.14.

KeyCorp Price Performance

Shares of NYSE KEY opened at $21.87 on Tuesday. The business has a 50-day moving average price of $22.90 and a 200 day moving average price of $21.79. The stock has a market cap of $23.34 billion, a PE ratio of 12.72, a price-to-earnings-growth ratio of 0.72 and a beta of 1.03. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.63. KeyCorp has a 52-week low of $16.47 and a 52-week high of $24.07.

KeyCorp (NYSE:KEY) last released its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $0.44 EPS for the quarter, topping the consensus estimate of $0.42 by $0.02. KeyCorp had a return on equity of 11.23% and a net margin of 17.83%.The company had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same quarter in the previous year, the company posted $0.35 earnings per share. The firm’s revenue was up 6.7% compared to the same quarter last year. Equities research analysts forecast that KeyCorp will post 1.83 earnings per share for the current year.

KeyCorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be given a dividend of $0.205 per share. The ex-dividend date is Tuesday, September 1st. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.7%. KeyCorp’s dividend payout ratio (DPR) is 47.67%.

KeyCorp announced that its Board of Directors has authorized a share buyback program on Wednesday, May 13th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the financial services provider to reacquire up to 13% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

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.