Quantinno Capital Management LP boosted its position in KeyCorp (NYSE:KEY – Free Report) by 55.8% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 1,147,526 shares of the financial services provider’s stock after purchasing an additional 410,841 shares during the period. Quantinno Capital Management LP’s holdings in KeyCorp were worth $23,008,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. MCF Advisors LLC increased its position in KeyCorp by 31.6% during the fourth quarter. MCF Advisors LLC now owns 1,898 shares of the financial services provider’s stock worth $39,000 after buying an additional 456 shares during the last quarter. Prime Capital Investment Advisors LLC lifted its position in shares of KeyCorp by 1.7% in the fourth quarter. Prime Capital Investment Advisors LLC now owns 28,498 shares of the financial services provider’s stock valued at $588,000 after buying an additional 486 shares during the last quarter. Harbour Investments Inc. lifted its position in shares of KeyCorp by 19.0% in the fourth quarter. Harbour Investments Inc. now owns 3,180 shares of the financial services provider’s stock valued at $66,000 after buying an additional 508 shares during the last quarter. J.W. Cole Advisors Inc. boosted its stake in shares of KeyCorp by 3.8% during the 4th quarter. J.W. Cole Advisors Inc. now owns 15,082 shares of the financial services provider’s stock worth $311,000 after acquiring an additional 547 shares during the period. Finally, Investors Asset Management of Georgia Inc. GA ADV boosted its stake in shares of KeyCorp by 1.7% during the 1st quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 32,493 shares of the financial services provider’s stock worth $650,000 after acquiring an additional 556 shares during the period. Institutional investors own 79.69% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on the company. Stephens initiated coverage on KeyCorp in a research note on Monday, June 15th. They issued an “overweight” rating and a $26.00 price target on the stock. Royal Bank Of Canada lifted their price objective on shares of KeyCorp from $24.00 to $25.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 22nd. Wall Street Zen downgraded shares of KeyCorp from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. UBS Group increased their price objective on shares of KeyCorp from $25.00 to $27.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. Finally, Weiss Ratings upgraded shares of KeyCorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $49.14.
Insider Activity
In other news, insider Angela G. Mago sold 22,826 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $21.66, for a total transaction of $494,411.16. Following the transaction, the insider directly owned 281,564 shares of the company’s stock, valued at approximately $6,098,676.24. This trade represents a 7.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.56% of the stock is currently owned by insiders.
KeyCorp Trading Down 0.0%
Shares of KeyCorp stock opened at $22.61 on Friday. The firm has a 50-day moving average of $22.60 and a 200-day moving average of $21.64. The stock has a market cap of $24.40 billion, a PE ratio of 13.14, a PEG ratio of 0.74 and a beta of 1.02. KeyCorp has a 52-week low of $16.47 and a 52-week high of $24.07. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.83 and a current ratio of 0.84.
KeyCorp (NYSE:KEY – Get Free Report) last released its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $0.44 EPS for the quarter, beating the consensus estimate of $0.42 by $0.02. KeyCorp had a net margin of 17.83% and a return on equity of 11.23%. The business had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.97 billion. During the same period in the prior year, the company posted $0.35 earnings per share. KeyCorp’s revenue was up 6.7% compared to the same quarter last year. As a group, sell-side analysts forecast that KeyCorp will post 1.83 EPS for the current year.
KeyCorp Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be given a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Tuesday, September 1st. KeyCorp’s dividend payout ratio is presently 47.67%.
KeyCorp announced that its Board of Directors has initiated a share buyback program on Wednesday, May 13th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 13% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.
KeyCorp Profile
KeyCorp is a bank holding company headquartered in Cleveland, Ohio, that operates through its primary banking subsidiary, KeyBank. It provides a broad range of banking and financial services to individual consumers, small businesses, middle-market companies and large corporations. KeyBank’s offerings span traditional deposit and lending products as well as more specialized financial solutions designed for commercial and institutional clients.
The company’s product and service mix includes retail banking products such as checking and savings accounts, consumer and residential mortgage lending, and auto financing.
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