Quantinno Capital Management LP Purchases 410,841 Shares of KeyCorp $KEY

Quantinno Capital Management LP grew its position in KeyCorp (NYSE:KEY) by 55.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,147,526 shares of the financial services provider’s stock after buying an additional 410,841 shares during the period. Quantinno Capital Management LP owned approximately 0.11% of KeyCorp worth $23,008,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Maseco LLP bought a new position in KeyCorp during the fourth quarter worth about $27,000. DV Equities LLC bought a new stake in shares of KeyCorp in the fourth quarter worth about $27,000. Smithfield Trust Co acquired a new stake in shares of KeyCorp during the fourth quarter worth about $31,000. Kelleher Financial Advisors acquired a new stake in shares of KeyCorp during the third quarter worth about $32,000. Finally, Richardson Financial Services Inc. acquired a new stake in shares of KeyCorp during the fourth quarter worth about $38,000. Institutional investors own 79.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on KEY shares. UBS Group boosted their price objective on KeyCorp from $25.00 to $27.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. Susquehanna raised their target price on shares of KeyCorp from $300.00 to $415.00 and gave the stock a “positive” rating in a report on Monday, May 18th. Evercore reaffirmed an “outperform” rating on shares of KeyCorp in a research note on Tuesday, April 21st. Piper Sandler upped their price target on shares of KeyCorp from $23.00 to $24.00 and gave the company an “overweight” rating in a report on Friday, April 17th. Finally, JPMorgan Chase & Co. increased their price objective on shares of KeyCorp from $22.50 to $24.50 and gave the stock a “neutral” rating in a research report on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, KeyCorp has a consensus rating of “Moderate Buy” and an average price target of $49.14.

Insiders Place Their Bets

In other KeyCorp news, insider Angela G. Mago sold 22,826 shares of the firm’s 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 transaction, the insider directly owned 281,564 shares in the company, valued at $6,098,676.24. This trade represents a 7.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.56% of the stock is currently owned by corporate insiders.

KeyCorp Trading Down 0.0%

Shares of NYSE:KEY opened at $22.61 on Friday. The company’s 50-day moving average price is $22.60 and its two-hundred day moving average price is $21.64. KeyCorp has a one year low of $16.47 and a one year high of $24.07. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.84 and a quick ratio of 0.83. The stock has a market capitalization of $24.40 billion, a PE ratio of 13.14, a price-to-earnings-growth ratio of 0.74 and a beta of 1.02.

KeyCorp (NYSE:KEY) last announced its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.02. The company had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.97 billion. KeyCorp had a return on equity of 11.23% and a net margin of 17.83%.KeyCorp’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.35 EPS. On average, equities analysts forecast that KeyCorp will post 1.83 EPS for the current fiscal year.

KeyCorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be given 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 is 47.67%.

KeyCorp declared that its board has authorized a stock repurchase plan on Wednesday, May 13th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the financial services provider to repurchase up to 13% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are 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.