Allianz Asset Management GmbH has decreased its stake in
KeyCorp (NYSE:KEY), with several other investment firms such as
CIBC Asset Management Inc,
Royal London Asset Management Ltd, and
California State Teachers Retirement System following the same pattern. However, firms such as
Cibc World Markets Corp,
Oppenheimer & Co. Inc,
Stifel Financial Corp, and
TD Asset Management Inc have increased their holdings within this financial services player. Although the stocks have both underperformed and outperformed the market on multiple occasions, analysts maintain a 'Moderate Buy' consensus rating for Keycorp. Furthermore, some restructuring initiatives might help KeyCorp to manage high costs. Strong trading days and a consistent
5.4% dividend yield make the company an attractive asset for investors. KeyCorp has recently partnered with
Blackstone Credit & Insurance in a forward flow origination arrangement. The firm's Q1 2024 earnings call transcript is available, but note that the Q1 earnings were lower than expected due to decreased Net Interest Income (NII). Currently, 81% of KeyCorp is owned by institutional investors. The stock seems to recover occasionally despite facing industry turmoil with strong relative strength. However, Wall Street's opinion about the KeyCorp stock is ambivalent.
Keycorp KEY News Analytics from Sun, 24 Sep 2023 07:00:00 GMT to Sun, 09 Jun 2024 17:44:01 GMT -
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