Quadrature Capital Ltd Sells 176,674 Shares of KeyCorp (NYSE:KEY)

Quadrature Capital Ltd cut its holdings in KeyCorp (NYSE:KEY) by 34.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 331,736 shares of the financial services provider’s stock after selling 176,674 shares during the period. Quadrature Capital Ltd’s holdings in KeyCorp were worth $4,777,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cornerstone Wealth Management LLC increased its position in KeyCorp by 6.3% in the 4th quarter. Cornerstone Wealth Management LLC now owns 12,337 shares of the financial services provider’s stock valued at $178,000 after buying an additional 732 shares in the last quarter. UMB Bank n.a. increased its position in KeyCorp by 2.5% in the 4th quarter. UMB Bank n.a. now owns 34,090 shares of the financial services provider’s stock valued at $491,000 after buying an additional 841 shares in the last quarter. AHL Investment Management Inc. increased its position in KeyCorp by 1.8% in the 4th quarter. AHL Investment Management Inc. now owns 51,288 shares of the financial services provider’s stock valued at $739,000 after buying an additional 900 shares in the last quarter. Global Retirement Partners LLC increased its position in KeyCorp by 15.8% in the 4th quarter. Global Retirement Partners LLC now owns 6,592 shares of the financial services provider’s stock valued at $92,000 after buying an additional 901 shares in the last quarter. Finally, Register Financial Advisors LLC increased its position in KeyCorp by 13.0% in the 4th quarter. Register Financial Advisors LLC now owns 8,021 shares of the financial services provider’s stock valued at $116,000 after buying an additional 921 shares in the last quarter. 79.69% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

KEY has been the subject of a number of research analyst reports. Evercore ISI boosted their target price on KeyCorp from $17.00 to $18.00 and gave the company an “outperform” rating in a research report on Thursday, March 28th. Wells Fargo & Company lifted their price target on KeyCorp from $16.00 to $18.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Keefe, Bruyette & Woods lifted their price target on KeyCorp from $16.00 to $18.00 and gave the company an “outperform” rating in a research note on Friday, April 5th. Jefferies Financial Group lifted their price target on KeyCorp from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Finally, Argus lifted their price target on KeyCorp from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Friday, April 19th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.97.

KeyCorp Trading Up 0.1 %

Shares of KEY stock opened at $13.58 on Wednesday. The company’s fifty day simple moving average is $14.50 and its two-hundred day simple moving average is $14.44. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.87 and a quick ratio of 0.87. KeyCorp has a 1 year low of $9.10 and a 1 year high of $15.86. The stock has a market capitalization of $12.80 billion, a price-to-earnings ratio of 17.19, a PEG ratio of 0.68 and a beta of 1.28.

KeyCorp (NYSE:KEY) last issued its earnings results on Thursday, April 18th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). The business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.51 billion. KeyCorp had a net margin of 7.53% and a return on equity of 8.89%. The company’s revenue was down 10.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.44 EPS. As a group, analysts anticipate that KeyCorp will post 1.13 earnings per share for the current year.

KeyCorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Tuesday, May 28th were issued a $0.205 dividend. The ex-dividend date was Friday, May 24th. This represents a $0.82 annualized dividend and a dividend yield of 6.04%. KeyCorp’s payout ratio is currently 103.80%.

KeyCorp Company Profile

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.