Contravisory Investment Management Inc. Raises Holdings in KeyCorp (NYSE:KEY)

Contravisory Investment Management Inc. lifted its holdings in KeyCorp (NYSE:KEY) by 1.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,002 shares of the financial services provider’s stock after purchasing an additional 791 shares during the quarter. Contravisory Investment Management Inc.’s holdings in KeyCorp were worth $806,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of KEY. CHURCHILL MANAGEMENT Corp lifted its stake in KeyCorp by 5.9% during the 4th quarter. CHURCHILL MANAGEMENT Corp now owns 465,333 shares of the financial services provider’s stock valued at $7,976,000 after acquiring an additional 26,047 shares during the period. Park Avenue Securities LLC raised its holdings in shares of KeyCorp by 33.1% during the fourth quarter. Park Avenue Securities LLC now owns 30,137 shares of the financial services provider’s stock valued at $517,000 after purchasing an additional 7,497 shares during the last quarter. FNY Investment Advisers LLC grew its position in KeyCorp by 171.2% in the 4th quarter. FNY Investment Advisers LLC now owns 16,000 shares of the financial services provider’s stock worth $274,000 after purchasing an additional 10,100 shares during the period. Wedmont Private Capital purchased a new position in shares of KeyCorp in the 4th quarter worth $169,000. Finally, Brookstone Capital Management increased its position in shares of KeyCorp by 6.3% during the 4th quarter. Brookstone Capital Management now owns 12,415 shares of the financial services provider’s stock valued at $213,000 after purchasing an additional 734 shares during the last quarter. 79.69% of the stock is owned by hedge funds and other institutional investors.

KeyCorp Stock Up 3.8 %

Shares of NYSE KEY opened at $18.15 on Thursday. The stock has a market capitalization of $17.99 billion, a price-to-earnings ratio of 1,815.00, a P/E/G ratio of 0.63 and a beta of 1.27. KeyCorp has a 12-month low of $12.94 and a 12-month high of $20.04. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.09. The firm’s 50-day moving average price is $18.26 and its 200-day moving average price is $16.93.

KeyCorp (NYSE:KEY) last posted its quarterly earnings data on Thursday, October 17th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.03. The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.59 billion. KeyCorp had a return on equity of 8.24% and a net margin of 0.76%. On average, equities research analysts anticipate that KeyCorp will post 1.1 EPS for the current fiscal year.

KeyCorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Tuesday, December 3rd were paid a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 4.52%. The ex-dividend date was Tuesday, December 3rd. KeyCorp’s payout ratio is 8,200.00%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on KEY shares. DA Davidson increased their price target on shares of KeyCorp from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Wedbush lifted their target price on KeyCorp from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Tuesday, September 24th. Citigroup downgraded KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 price objective on the stock. in a research note on Thursday, November 7th. Keefe, Bruyette & Woods boosted their price objective on KeyCorp from $19.00 to $22.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Finally, Truist Financial assumed coverage on shares of KeyCorp in a research note on Tuesday, January 7th. They set a “hold” rating and a $19.00 target price on the stock. Nine equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $19.44.

Insider Buying and Selling at KeyCorp

In related news, insider Angela G. Mago sold 15,011 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $19.59, for a total value of $294,065.49. Following the sale, the insider now directly owns 234,582 shares of the company’s stock, valued at $4,595,461.38. This represents a 6.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Carlton L. Highsmith sold 9,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $17.14, for a total value of $154,260.00. Following the transaction, the director now directly owns 37,864 shares in the company, valued at approximately $648,988.96. This represents a 19.20 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.67% of the company’s stock.

KeyCorp Profile

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.