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

Sigma Investment Counselors Inc. raised its stake in shares of KeyCorp (NYSE:KEYGet Rating) by 3.6% during the second quarter, HoldingsChannel reports. The firm owned 100,940 shares of the financial services provider’s stock after buying 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.

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of KeyCorp by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 111,201,600 shares of the financial services provider’s stock valued at $2,488,691,000 after purchasing an additional 1,278,193 shares during the last quarter. BlackRock Inc. lifted its stake in shares of KeyCorp by 2.1% in the 4th quarter. BlackRock Inc. now owns 83,634,140 shares of the financial services provider’s stock valued at $1,934,456,000 after purchasing an additional 1,682,794 shares during the last quarter. Capital International Investors lifted its stake in shares of KeyCorp by 8.6% in the 4th quarter. Capital International Investors now owns 83,201,801 shares of the financial services provider’s stock valued at $1,924,458,000 after purchasing an additional 6,586,364 shares during the last quarter. Royal Bank of Canada lifted its stake in shares of KeyCorp by 0.6% in the 1st quarter. Royal Bank of Canada now owns 21,965,131 shares of the financial services provider’s stock valued at $491,578,000 after purchasing an additional 136,741 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of KeyCorp by 5.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 15,127,773 shares of the financial services provider’s stock valued at $338,560,000 after purchasing an additional 834,564 shares during the last quarter. 83.58% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Jefferies Financial Group lowered their price objective on KeyCorp from $23.00 to $18.00 and set a “hold” rating for the company in a research note on Monday, July 11th. Wolfe Research decreased their price target on KeyCorp from $23.00 to $17.00 and set an “underperform” rating for the company in a research note on Thursday, May 26th. Morgan Stanley raised their price target on KeyCorp from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Friday, July 22nd. The Goldman Sachs Group decreased their price target on KeyCorp from $27.00 to $23.00 and set a “buy” rating for the company in a research note on Tuesday, May 31st. Finally, Wedbush raised their price target on KeyCorp to $21.00 in a research note on Friday, July 22nd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, KeyCorp currently has an average rating of “Hold” and a consensus target price of $23.37.

Insider Activity

In related news, Director Carlton L. Highsmith sold 5,200 shares of the firm’s stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $17.59, for a total transaction of $91,468.00. Following the sale, the director now directly owns 64,139 shares of the company’s stock, valued at $1,128,205.01. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.54% of the company’s stock.

KeyCorp Stock Performance

KeyCorp stock traded down $0.32 during trading hours on Friday, hitting $16.26. 694,105 shares of the stock traded hands, compared to its average volume of 9,355,448. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.81 and a quick ratio of 0.81. The firm’s 50 day moving average price is $18.22 and its 200-day moving average price is $19.36. The stock has a market capitalization of $15.16 billion, a price-to-earnings ratio of 7.14, a P/E/G ratio of 0.42 and a beta of 1.30. KeyCorp has a 1 year low of $16.41 and a 1 year high of $27.17.

KeyCorp (NYSE:KEYGet Rating) last posted its quarterly earnings results on Thursday, July 21st. The financial services provider reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.02. The business had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.76 billion. KeyCorp had a return on equity of 15.01% and a net margin of 28.53%. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.72 EPS. As a group, equities analysts expect that KeyCorp will post 2.24 EPS for the current fiscal year.

KeyCorp Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend was Monday, August 29th. This represents a $0.78 annualized dividend and a yield of 4.80%. KeyCorp’s payout ratio is presently 34.21%.

KeyCorp Profile

(Get Rating)

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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