TRUE Private Wealth Advisors acquired a new position in shares of KeyCorp (NYSE:KEY) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 5,629 shares of the financial services provider’s stock, valued at approximately $99,000.
Other large investors have also recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of KeyCorp by 15.6% in the first quarter. BlackRock Inc. now owns 80,357,523 shares of the financial services provider’s stock valued at $1,265,630,000 after buying an additional 10,824,887 shares during the period. FMR LLC boosted its stake in shares of KeyCorp by 21.1% in the first quarter. FMR LLC now owns 18,418,818 shares of the financial services provider’s stock valued at $290,096,000 after buying an additional 3,204,467 shares during the period. Hamlin Capital Management LLC bought a new stake in shares of KeyCorp in the second quarter valued at approximately $52,674,000. Hexavest Inc. bought a new stake in shares of KeyCorp in the second quarter valued at approximately $39,330,000. Finally, Dimensional Fund Advisors LP boosted its stake in shares of KeyCorp by 23.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 9,672,672 shares of the financial services provider’s stock valued at $142,957,000 after buying an additional 1,811,571 shares during the period. Institutional investors own 80.91% of the company’s stock.
Several brokerages recently issued reports on KEY. Jefferies Financial Group boosted their price target on KeyCorp from $20.00 to $18.50 and gave the company a “buy” rating in a research note on Monday, May 6th. Nomura set a $18.00 price target on KeyCorp and gave the company a “hold” rating in a research note on Friday, July 26th. Robert W. Baird upgraded KeyCorp from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $18.00 to $19.00 in a research note on Friday, June 21st. ValuEngine upgraded KeyCorp from a “strong sell” rating to a “sell” rating in a research note on Thursday, April 18th. Finally, Credit Suisse Group upgraded KeyCorp from an “average” rating to a “buy” rating and set a $40.00 price target for the company in a research note on Wednesday, August 7th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $23.88.
NYSE KEY traded up $0.50 on Friday, hitting $16.42. 172,242 shares of the company’s stock were exchanged, compared to its average volume of 9,118,396. The stock has a 50-day moving average of $17.46 and a 200-day moving average of $17.03. The company has a current ratio of 0.91, a quick ratio of 0.89 and a debt-to-equity ratio of 0.95. KeyCorp has a 52 week low of $13.65 and a 52 week high of $21.91. The stock has a market cap of $16.19 billion, a price-to-earnings ratio of 9.48, a P/E/G ratio of 2.81 and a beta of 1.24.
KeyCorp (NYSE:KEY) last released its earnings results on Tuesday, July 23rd. The financial services provider reported $0.44 earnings per share for the quarter, hitting the consensus estimate of $0.44. The firm had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.62 billion. KeyCorp had a return on equity of 12.82% and a net margin of 23.15%. The company’s quarterly revenue was down 2.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.44 earnings per share. As a group, analysts predict that KeyCorp will post 1.79 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Tuesday, August 27th will be issued a dividend of $0.185 per share. The ex-dividend date of this dividend is Monday, August 26th. This is an increase from KeyCorp’s previous quarterly dividend of $0.17. This represents a $0.74 annualized dividend and a dividend yield of 4.51%. KeyCorp’s dividend payout ratio is 39.31%.
In other news, insider Andrew J. Paine III sold 99,999 shares of the company’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $18.26, for a total transaction of $1,825,981.74. Following the completion of the transaction, the insider now directly owns 85,469 shares in the company, valued at $1,560,663.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Amy G. Brady sold 13,238 shares of the company’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $17.00, for a total transaction of $225,046.00. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by corporate insiders.
KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking services in the United States. The company's Key Community Bank segment offers various deposit and investment products, personal finance services, residential mortgages, home equity loans, credit cards, and installment loans.
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