KeyCorp (KEY) Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp cut its position in shares of KeyCorp (NYSE:KEY) by 7.8% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 101,687 shares of the financial services provider’s stock after selling 8,569 shares during the period. Fifth Third Bancorp’s holdings in KeyCorp were worth $1,808,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of KeyCorp during the fourth quarter valued at about $133,502,000. JPMorgan Chase & Co. boosted its stake in shares of KeyCorp by 5.9% in the first quarter. JPMorgan Chase & Co. now owns 42,783,161 shares of the financial services provider’s stock valued at $760,682,000 after buying an additional 2,386,757 shares during the period. State of New Jersey Common Pension Fund D acquired a new stake in shares of KeyCorp during the first quarter valued at about $32,004,000. AMF Pensionsforsakring AB boosted its stake in shares of KeyCorp by 82.4% in the fourth quarter. AMF Pensionsforsakring AB now owns 3,321,051 shares of the financial services provider’s stock valued at $60,676,000 after buying an additional 1,500,651 shares during the period. Finally, Scout Investments Inc. boosted its stake in shares of KeyCorp by 74.4% in the first quarter. Scout Investments Inc. now owns 3,219,703 shares of the financial services provider’s stock valued at $35,546,000 after buying an additional 1,373,627 shares during the period. 81.46% of the stock is currently owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for KeyCorp (NYSE:KEY)

KeyCorp (KEY) traded down 0.64% during midday trading on Tuesday, hitting $18.67. The stock had a trading volume of 2,025,241 shares. KeyCorp has a 12-month low of $10.21 and a 12-month high of $19.53. The company has a 50-day moving average price of $18.22 and a 200-day moving average price of $18.19. The company has a market cap of $20.46 billion, a price-to-earnings ratio of 21.73 and a beta of 1.12.

KeyCorp (NYSE:KEY) last issued its earnings results on Thursday, April 20th. The financial services provider reported $0.32 EPS for the quarter, topping the consensus estimate of $0.28 by $0.04. The company had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.47 billion. KeyCorp had a return on equity of 9.30% and a net margin of 14.69%. The business’s revenue was up 44.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.24 EPS. Equities analysts anticipate that KeyCorp will post $1.33 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, June 15th. Stockholders of record on Tuesday, May 30th were given a $0.095 dividend. This is a positive change from KeyCorp’s previous quarterly dividend of $0.09. The ex-dividend date was Thursday, May 25th. This represents a $0.38 annualized dividend and a dividend yield of 2.02%. KeyCorp’s dividend payout ratio (DPR) is presently 44.71%.

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Several analysts recently issued reports on the stock. BMO Capital Markets restated a “buy” rating and issued a $22.00 price objective on shares of KeyCorp in a report on Monday, February 27th. BidaskClub upgraded shares of KeyCorp from a “hold” rating to a “buy” rating in a research note on Saturday, June 10th. Piper Jaffray Companies upgraded shares of KeyCorp from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $19.00 to $21.00 in a research note on Monday, April 24th. Zacks Investment Research lowered shares of KeyCorp from a “buy” rating to a “hold” rating in a research note on Tuesday, April 25th. Finally, Instinet reiterated a “buy” rating and set a $23.00 price target (up from $22.00) on shares of KeyCorp in a research note on Sunday, April 23rd. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and fifteen have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $18.56.

About KeyCorp

KeyCorp is a bank holding company. The Company is a bank-based financial services company. The Company operates through its subsidiary, KeyBank National Association (KeyBank), which is engaged in providing banking services. Through KeyBank and other subsidiaries, it provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, and investment banking products and services to individual, corporate and institutional clients.

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