Kingswood Wealth Advisors LLC Makes New $413,000 Investment in KeyCorp (NYSE:KEY)

Kingswood Wealth Advisors LLC purchased a new position in shares of KeyCorp (NYSE:KEY) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 28,647 shares of the financial services provider’s stock, valued at approximately $413,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of KeyCorp by 3.4% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 181,902 shares of the financial services provider’s stock worth $2,619,000 after buying an additional 6,002 shares in the last quarter. CVA Family Office LLC bought a new position in shares of KeyCorp in the 4th quarter worth $177,000. Raymond James & Associates lifted its holdings in shares of KeyCorp by 44.1% in the 4th quarter. Raymond James & Associates now owns 1,610,148 shares of the financial services provider’s stock worth $23,186,000 after purchasing an additional 492,584 shares in the last quarter. CHURCHILL MANAGEMENT Corp bought a new position in shares of KeyCorp in the 4th quarter worth $6,186,000. Finally, HB Wealth Management LLC lifted its holdings in shares of KeyCorp by 68.3% in the 4th quarter. HB Wealth Management LLC now owns 31,107 shares of the financial services provider’s stock worth $448,000 after purchasing an additional 12,626 shares in the last quarter. 79.69% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Kenneth C. Gavrity sold 2,376 shares of KeyCorp stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $14.03, for a total value of $33,335.28. Following the completion of the sale, the insider now owns 98,120 shares of the company’s stock, valued at approximately $1,376,623.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Kenneth C. Gavrity sold 2,376 shares of KeyCorp stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $14.03, for a total value of $33,335.28. Following the completion of the sale, the insider now owns 98,120 shares of the company’s stock, valued at approximately $1,376,623.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Douglas M. Schosser sold 3,326 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $14.00, for a total value of $46,564.00. Following the completion of the transaction, the chief accounting officer now owns 19,795 shares of the company’s stock, valued at approximately $277,130. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,442 shares of company stock valued at $303,914. 0.61% of the stock is owned by insiders.

KeyCorp Trading Up 3.9 %

Shares of KeyCorp stock opened at $15.65 on Thursday. KeyCorp has a 1 year low of $8.53 and a 1 year high of $15.65. The firm has a market cap of $14.51 billion, a PE ratio of 17.58 and a beta of 1.27. The stock has a fifty day moving average price of $14.40 and a 200-day moving average price of $12.90. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.86 and a quick ratio of 0.86.

KeyCorp (NYSE:KEY) last announced its earnings results on Thursday, January 18th. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.02. KeyCorp had a return on equity of 10.63% and a net margin of 8.61%. The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same period last year, the firm posted $0.38 EPS. Equities research analysts anticipate that KeyCorp will post 1.18 EPS for the current year.

KeyCorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, February 27th were issued a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 5.24%. The ex-dividend date of this dividend was Monday, February 26th. KeyCorp’s dividend payout ratio (DPR) is currently 92.13%.

Wall Street Analyst Weigh In

KEY has been the topic of a number of recent research reports. Piper Sandler increased their target price on KeyCorp from $16.00 to $17.00 and gave the stock an “overweight” rating in a report on Friday, January 26th. Morgan Stanley increased their target price on KeyCorp from $12.00 to $16.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 7th. Raymond James assumed coverage on KeyCorp in a report on Monday, January 8th. They issued a “market perform” rating on the stock. Stephens raised KeyCorp from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, December 20th. Finally, The Goldman Sachs Group increased their price target on KeyCorp from $13.50 to $15.00 and gave the company a “buy” rating in a research report on Monday, December 18th. One analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, KeyCorp currently has an average rating of “Moderate Buy” and a consensus price target of $14.69.

About KeyCorp

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.