Planned Solutions Inc. Takes $79,000 Position in KeyCorp (NYSE:KEY)

Planned Solutions Inc. bought a new stake in KeyCorp (NYSE:KEY) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 5,465 shares of the financial services provider’s stock, valued at approximately $79,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Cetera Advisor Networks LLC lifted its position in KeyCorp by 37.9% in the 1st quarter. Cetera Advisor Networks LLC now owns 12,740 shares of the financial services provider’s stock valued at $285,000 after acquiring an additional 3,504 shares in the last quarter. Sei Investments Co. raised its position in KeyCorp by 12.9% in the first quarter. Sei Investments Co. now owns 1,183,502 shares of the financial services provider’s stock worth $26,543,000 after acquiring an additional 135,193 shares during the period. Aviva PLC lifted its stake in KeyCorp by 177.0% in the first quarter. Aviva PLC now owns 525,009 shares of the financial services provider’s stock valued at $11,750,000 after purchasing an additional 335,457 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in KeyCorp during the first quarter worth about $38,000. Finally, Allianz Asset Management GmbH grew its position in shares of KeyCorp by 10.6% in the first quarter. Allianz Asset Management GmbH now owns 212,557 shares of the financial services provider’s stock valued at $4,757,000 after purchasing an additional 20,384 shares in the last quarter. Institutional investors own 79.69% of the company’s stock.

Insider Buying and Selling at KeyCorp

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

Wall Street Analysts Forecast Growth

KEY has been the topic of several research analyst reports. Keefe, Bruyette & Woods decreased their price target on shares of KeyCorp from $17.00 to $16.00 and set an “outperform” rating on the stock in a report on Friday, January 19th. The Goldman Sachs Group upped their target price on shares of KeyCorp from $13.50 to $15.00 and gave the stock a “buy” rating in a research report on Monday, December 18th. Raymond James assumed coverage on KeyCorp in a research report on Monday, January 8th. They set a “market perform” rating on the stock. Royal Bank of Canada upped their price objective on KeyCorp from $13.00 to $15.00 and gave the stock an “outperform” rating in a report on Friday, January 19th. Finally, Wedbush decreased their price objective on KeyCorp from $16.00 to $14.00 and set a “neutral” rating on the stock in a report on Friday, January 19th. One research 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, the company currently has an average rating of “Moderate Buy” and an average price target of $14.69.

KeyCorp Price Performance

Shares of KeyCorp stock opened at $15.65 on Thursday. The company’s fifty day simple moving average is $14.40 and its two-hundred day simple moving average is $12.90. KeyCorp has a 12-month low of $8.53 and a 12-month 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 company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.61.

KeyCorp (NYSE:KEY) last posted its earnings results on Thursday, January 18th. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.02. The company had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.53 billion. KeyCorp had a return on equity of 10.63% and a net margin of 8.61%. During the same period last year, the firm earned $0.38 earnings per share. As a group, equities analysts expect that KeyCorp will post 1.18 EPS for the current year.

KeyCorp Announces Dividend

The business also recently declared 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%.

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.