Groupama Asset Managment Acquires 29,467 Shares of KeyCorp $KEY

Groupama Asset Managment raised its holdings in KeyCorp (NYSE:KEY) by 101.6% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 58,465 shares of the financial services provider’s stock after acquiring an additional 29,467 shares during the quarter. Groupama Asset Managment’s holdings in KeyCorp were worth $1,172,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of KEY. MCF Advisors LLC lifted its holdings in shares of KeyCorp by 31.6% during the fourth quarter. MCF Advisors LLC now owns 1,898 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 456 shares during the period. Prime Capital Investment Advisors LLC increased its holdings in KeyCorp by 1.7% in the fourth quarter. Prime Capital Investment Advisors LLC now owns 28,498 shares of the financial services provider’s stock valued at $588,000 after purchasing an additional 486 shares during the period. Harbour Investments Inc. increased its holdings in KeyCorp by 19.0% in the fourth quarter. Harbour Investments Inc. now owns 3,180 shares of the financial services provider’s stock valued at $66,000 after purchasing an additional 508 shares during the period. EverSource Wealth Advisors LLC increased its holdings in KeyCorp by 5.4% in the first quarter. EverSource Wealth Advisors LLC now owns 10,265 shares of the financial services provider’s stock valued at $206,000 after purchasing an additional 522 shares during the period. Finally, J.W. Cole Advisors Inc. raised its position in KeyCorp by 3.8% during the 4th quarter. J.W. Cole Advisors Inc. now owns 15,082 shares of the financial services provider’s stock worth $311,000 after purchasing an additional 547 shares during the last quarter. Institutional investors own 79.69% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on KEY. Morgan Stanley lifted their target price on KeyCorp from $24.00 to $25.00 and gave the stock an “equal weight” rating in a report on Monday, June 29th. Royal Bank Of Canada raised their price objective on KeyCorp from $24.00 to $25.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 22nd. The Goldman Sachs Group raised their price objective on KeyCorp from $25.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, April 17th. UBS Group upped their target price on KeyCorp from $25.00 to $27.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. Finally, Piper Sandler increased their target price on shares of KeyCorp from $23.00 to $24.00 and gave the company an “overweight” rating in a research report on Friday, April 17th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, KeyCorp has a consensus rating of “Moderate Buy” and an average price target of $49.14.

Insider Buying and Selling

In other KeyCorp news, insider Angela G. Mago sold 22,826 shares of KeyCorp stock in a transaction that occurred 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 sale, the insider directly owned 281,564 shares in the company, valued at approximately $6,098,676.24. The trade was a 7.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.56% of the stock is owned by corporate insiders.

KeyCorp Stock Performance

Shares of KEY opened at $22.61 on Friday. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $24.40 billion, a P/E ratio of 13.14, a price-to-earnings-growth ratio of 0.74 and a beta of 1.02. The firm’s fifty day simple moving average is $22.60 and its two-hundred day simple moving average is $21.64. KeyCorp has a 12 month low of $16.47 and a 12 month high of $24.07.

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

KeyCorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be paid a dividend of $0.205 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.82 annualized dividend and a yield of 3.6%. KeyCorp’s dividend payout ratio (DPR) is currently 47.67%.

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

KeyCorp 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.