KeyCorp (NYSE:KEY) Price Target Raised to $23.00 at The Goldman Sachs Group

KeyCorp (NYSE:KEY) had its price objective raised by The Goldman Sachs Group from $20.00 to $23.00 in a research report report published on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the financial services provider’s stock.

Several other brokerages also recently weighed in on KEY. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $18.00 price target on shares of KeyCorp in a report on Tuesday, September 10th. Royal Bank of Canada lifted their target price on shares of KeyCorp from $17.00 to $18.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. Jefferies Financial Group increased their price target on KeyCorp from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Monday, August 19th. Wedbush boosted their price objective on KeyCorp from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Tuesday, September 24th. Finally, Morgan Stanley increased their target price on KeyCorp from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 14th. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $18.26.

KeyCorp Trading Down 0.8 %

Shares of KEY stock opened at $19.66 on Tuesday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.88 and a quick ratio of 0.88. The company has a market cap of $19.48 billion, a price-to-earnings ratio of 1,965.50, a PEG ratio of 1.08 and a beta of 1.24. KeyCorp has a 1 year low of $11.64 and a 1 year high of $20.04. The firm has a fifty day moving average price of $17.68 and a 200-day moving average price of $16.03.

KeyCorp (NYSE:KEY) last released its quarterly earnings results on Thursday, October 17th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.03. KeyCorp had a return on equity of 8.24% and a net margin of 0.76%. The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.59 billion. As a group, equities analysts predict that KeyCorp will post 1.09 earnings per share for the current year.

KeyCorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Tuesday, December 3rd will be given a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 4.17%. The ex-dividend date is Tuesday, December 3rd. KeyCorp’s dividend payout ratio is 8,200.00%.

Insider Buying and Selling

In related news, insider Angela G. Mago sold 15,011 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $19.59, for a total value of $294,065.49. Following the completion of the sale, the insider now directly owns 234,582 shares in the company, valued at $4,595,461.38. This trade represents a 6.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Carlton L. Highsmith sold 9,000 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $17.14, for a total transaction of $154,260.00. Following the transaction, the director now owns 37,864 shares in the company, valued at $648,988.96. This trade represents a 19.20 % decrease in their position. The disclosure for this sale can be found here. 0.67% of the stock is currently owned by company insiders.

Institutional Trading of KeyCorp

Several institutional investors have recently added to or reduced their stakes in KEY. Azora Capital LP bought a new stake in shares of KeyCorp during the 3rd quarter worth approximately $92,413,000. Assenagon Asset Management S.A. lifted its position in shares of KeyCorp by 280.3% during the third quarter. Assenagon Asset Management S.A. now owns 4,976,965 shares of the financial services provider’s stock worth $83,364,000 after purchasing an additional 3,668,168 shares during the last quarter. Ceredex Value Advisors LLC boosted its stake in shares of KeyCorp by 112.4% during the second quarter. Ceredex Value Advisors LLC now owns 6,647,393 shares of the financial services provider’s stock valued at $94,459,000 after purchasing an additional 3,517,755 shares during the period. Thrivent Financial for Lutherans increased its stake in KeyCorp by 108.3% in the 3rd quarter. Thrivent Financial for Lutherans now owns 5,852,233 shares of the financial services provider’s stock worth $98,025,000 after buying an additional 3,042,060 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in KeyCorp by 164.9% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,660,680 shares of the financial services provider’s stock valued at $78,066,000 after buying an additional 2,900,971 shares in the last quarter. Institutional investors own 79.69% of the company’s stock.

KeyCorp Company Profile

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; commercial leasing, investment management, consumer finance; and personal finance and financial wellness, student loan refinancing, mortgage and home equity, lending, credit card, treasury, business advisory, wealth management, asset management, cash management, portfolio management, and trust and related services to individuals and small and medium-sized businesses.