Sigma Investment Counselors Inc. Purchases 3,499 Shares of KeyCorp (NYSE:KEY)

Sigma Investment Counselors Inc. increased its position in KeyCorp (NYSE:KEYGet Rating) by 3.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 100,940 shares of the financial services provider’s stock after acquiring an additional 3,499 shares during the quarter. Sigma Investment Counselors Inc.’s holdings in KeyCorp were worth $1,739,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of KEY. Qube Research & Technologies Ltd purchased a new stake in KeyCorp in the fourth quarter valued at approximately $347,000. Clark Capital Management Group Inc. purchased a new stake in KeyCorp in the fourth quarter valued at approximately $209,000. Gotham Asset Management LLC raised its stake in KeyCorp by 6.1% in the fourth quarter. Gotham Asset Management LLC now owns 27,913 shares of the financial services provider’s stock valued at $646,000 after purchasing an additional 1,601 shares in the last quarter. Rockefeller Capital Management L.P. raised its stake in KeyCorp by 1.3% in the fourth quarter. Rockefeller Capital Management L.P. now owns 122,291 shares of the financial services provider’s stock valued at $2,828,000 after purchasing an additional 1,596 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new position in shares of KeyCorp during the fourth quarter worth approximately $428,000. 83.58% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

KEY has been the topic of several research reports. Wells Fargo & Company decreased their price target on shares of KeyCorp from $27.00 to $22.00 and set an “overweight” rating on the stock in a research note on Friday, July 1st. Citigroup decreased their price target on shares of KeyCorp from $22.00 to $19.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 12th. JPMorgan Chase & Co. decreased their price target on shares of KeyCorp from $25.00 to $20.50 and set a “neutral” rating on the stock in a research note on Friday, July 1st. Wolfe Research decreased their price target on shares of KeyCorp from $23.00 to $17.00 and set an “underperform” rating on the stock in a research note on Thursday, May 26th. Finally, Wedbush raised their target price on shares of KeyCorp to $21.00 in a report on Friday, July 22nd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $23.37.

KeyCorp Stock Down 1.9 %

Shares of NYSE:KEY traded down $0.32 during midday trading on Friday, reaching $16.26. The company’s stock had a trading volume of 694,105 shares, compared to its average volume of 9,355,448. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.33. The firm has a 50 day moving average of $18.22 and a 200-day moving average of $19.36. The firm has a market capitalization of $15.16 billion, a P/E ratio of 7.14, a PEG ratio of 0.42 and a beta of 1.30. KeyCorp has a 12-month low of $16.41 and a 12-month high of $27.17.

KeyCorp (NYSE:KEYGet Rating) last posted its quarterly earnings data on Thursday, July 21st. The financial services provider reported $0.54 EPS for the quarter, topping the consensus estimate of $0.52 by $0.02. KeyCorp had a net margin of 28.53% and a return on equity of 15.01%. The business had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same quarter in the previous year, the firm posted $0.72 earnings per share. KeyCorp’s quarterly revenue was up 1.1% on a year-over-year basis. On average, research analysts anticipate that KeyCorp will post 2.24 earnings per share for the current year.

KeyCorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Tuesday, August 30th were paid a dividend of $0.195 per share. This represents a $0.78 dividend on an annualized basis and a dividend yield of 4.80%. The ex-dividend date of this dividend was Monday, August 29th. KeyCorp’s dividend payout ratio is 34.21%.

Insider Buying and Selling at KeyCorp

In other KeyCorp news, Director Carlton L. Highsmith sold 5,200 shares of the firm’s stock in a transaction that occurred on Wednesday, September 14th. The shares were sold at an average price of $17.59, for a total transaction of $91,468.00. Following the completion of the transaction, the director now owns 64,139 shares of the company’s stock, valued at $1,128,205.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.54% of the company’s stock.

KeyCorp Company Profile

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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.

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Institutional Ownership by Quarter for KeyCorp (NYSE:KEY)

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