Victory Capital Management Inc. Has $83.88 Million Holdings in KeyCorp (NYSE:KEY)

Victory Capital Management Inc. trimmed its holdings in shares of KeyCorp (NYSE:KEY) by 11.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,245,662 shares of the financial services provider’s stock after selling 700,412 shares during the period. Victory Capital Management Inc.’s holdings in KeyCorp were worth $83,878,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in KEY. Whittier Trust Co. boosted its holdings in shares of KeyCorp by 110.3% during the 4th quarter. Whittier Trust Co. now owns 1,525 shares of the financial services provider’s stock valued at $26,000 after buying an additional 800 shares in the last quarter. Fourth Dimension Wealth LLC purchased a new stake in KeyCorp in the fourth quarter worth $28,000. Allworth Financial LP boosted its position in KeyCorp by 246.9% during the first quarter. Allworth Financial LP now owns 2,168 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 1,543 shares in the last quarter. FSC Wealth Advisors LLC acquired a new stake in KeyCorp in the first quarter worth about $34,000. Finally, NBC Securities Inc. raised its stake in shares of KeyCorp by 123,900.0% in the first quarter. NBC Securities Inc. now owns 2,480 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 2,478 shares during the last quarter. Hedge funds and other institutional investors own 79.69% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Evercore ISI set a $17.00 price objective on KeyCorp in a research note on Monday, April 28th. UBS Group upgraded KeyCorp from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $16.00 to $22.00 in a report on Tuesday, July 8th. Robert W. Baird lowered KeyCorp from an “outperform” rating to a “neutral” rating and set a $18.00 target price on the stock. in a research report on Wednesday, July 2nd. Truist Financial cut their target price on KeyCorp from $18.00 to $16.00 and set a “hold” rating for the company in a research report on Tuesday, April 22nd. Finally, TD Cowen began coverage on shares of KeyCorp in a research note on Thursday, May 15th. They issued a “hold” rating and a $18.00 price target on the stock. Eleven analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, KeyCorp currently has an average rating of “Moderate Buy” and a consensus target price of $19.18.

KeyCorp Trading Up 2.3%

Shares of KEY stock opened at $18.39 on Friday. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.84 and a quick ratio of 0.83. The firm has a market cap of $20.15 billion, a PE ratio of -108.15, a price-to-earnings-growth ratio of 0.67 and a beta of 1.11. The company has a 50-day moving average of $16.74 and a two-hundred day moving average of $16.40. KeyCorp has a 1-year low of $12.73 and a 1-year high of $20.04.

KeyCorp (NYSE:KEY) last released its quarterly earnings results on Thursday, April 17th. The financial services provider reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.01. The firm had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.77 billion. KeyCorp had a positive return on equity of 9.43% and a negative net margin of 0.12%. During the same quarter in the prior year, the business earned $0.20 EPS. On average, analysts predict that KeyCorp will post 1.5 EPS for the current year.

KeyCorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be given a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 4.46%. The ex-dividend date is Tuesday, September 2nd. KeyCorp’s dividend payout ratio is currently -482.35%.

Insiders Place Their Bets

In other news, Director Carlton L. Highsmith sold 5,000 shares of the business’s stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $16.60, for a total value of $83,000.00. Following the transaction, the director directly owned 37,177 shares of the company’s stock, valued at $617,138.20. The trade was a 11.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Mohit Ramani bought 10,000 shares of the company’s stock in a transaction on Monday, April 21st. The shares were bought at an average price of $13.75 per share, for a total transaction of $137,500.00. Following the transaction, the insider owned 10,000 shares of the company’s stock, valued at approximately $137,500. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.52% of the company’s stock.

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.