Sequoia Financial Advisors LLC Purchases 26,514 Shares of KeyCorp $KEY

Sequoia Financial Advisors LLC boosted its position in KeyCorp (NYSE:KEY) by 24.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 135,315 shares of the financial services provider’s stock after buying an additional 26,514 shares during the period. Sequoia Financial Advisors LLC’s holdings in KeyCorp were worth $3,119,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. National Pension Service grew its holdings in KeyCorp by 2.2% during the 2nd quarter. National Pension Service now owns 627,750 shares of the financial services provider’s stock worth $14,470,000 after acquiring an additional 13,539 shares during the period. WINTON GROUP Ltd lifted its stake in shares of KeyCorp by 1,691.3% in the 2nd quarter. WINTON GROUP Ltd now owns 244,695 shares of the financial services provider’s stock valued at $5,640,000 after purchasing an additional 231,035 shares during the period. SVB Wealth LLC acquired a new position in shares of KeyCorp in the 2nd quarter valued at about $2,162,000. Pinnacle Wealth Management Advisory Group LLC bought a new stake in shares of KeyCorp during the 2nd quarter valued at about $238,000. Finally, Integrated Wealth Concepts LLC boosted its position in shares of KeyCorp by 11.0% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 38,702 shares of the financial services provider’s stock valued at $892,000 after purchasing an additional 3,845 shares in the last quarter. Institutional investors and hedge funds own 79.69% of the company’s stock.

KeyCorp Stock Performance

Shares of KeyCorp stock opened at $21.84 on Friday. KeyCorp has a one year low of $16.47 and a one year high of $24.07. The firm has a market capitalization of $23.30 billion, a price-to-earnings ratio of 12.69, a PEG ratio of 0.82 and a beta of 1.02. The business has a 50-day simple moving average of $22.59 and a 200 day simple moving average of $21.75. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.84 and a quick ratio of 0.83.

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

KeyCorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be given a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Tuesday, September 1st. KeyCorp’s dividend payout ratio is presently 47.67%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on KEY. DA Davidson reiterated a “buy” rating and issued a $28.00 target price on shares of KeyCorp in a report on Wednesday, July 22nd. Susquehanna increased their price target on KeyCorp from $300.00 to $415.00 and gave the stock a “positive” rating in a report on Monday, May 18th. Robert W. Baird raised their price objective on shares of KeyCorp from $22.00 to $23.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 22nd. Argus raised shares of KeyCorp to a “strong-buy” rating in a research report on Wednesday, July 29th. Finally, UBS Group lifted their price objective on shares of KeyCorp from $25.00 to $27.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, KeyCorp presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.14.

About KeyCorp

KeyCorp is a financial services company headquartered in Cleveland, Ohio, and the parent company of KeyBank National Association. Founded in 1825, KeyBank is one of the largest regional banks in the United States and provides banking and financial services to individuals, businesses, institutions and government entities.

KeyBank’s consumer banking activities include checking and savings accounts, residential mortgages, home equity lending, personal loans, credit cards and financial planning.