KeyCorp (NYSE:KEY) Holdings Cut by Park Avenue Securities LLC

Park Avenue Securities LLC lowered its holdings in KeyCorp (NYSE:KEY) by 5.7% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 33,435 shares of the financial services provider’s stock after selling 2,031 shares during the period. Park Avenue Securities LLC’s holdings in KeyCorp were worth $529,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Bruce G. Allen Investments LLC bought a new position in KeyCorp in the fourth quarter worth about $26,000. Sound Income Strategies LLC lifted its holdings in KeyCorp by 3,600.0% in the fourth quarter. Sound Income Strategies LLC now owns 1,887 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 1,836 shares during the last quarter. First United Bank & Trust bought a new position in KeyCorp in the fourth quarter worth about $29,000. Baldwin Brothers LLC MA bought a new position in KeyCorp in the fourth quarter worth about $35,000. Finally, Cary Street Partners Investment Advisory LLC bought a new position in KeyCorp in the third quarter worth about $28,000. Institutional investors own 79.69% of the company’s stock.

KeyCorp Trading Up 4.3 %

KeyCorp stock opened at $14.21 on Friday. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.87 and a current ratio of 0.87. The firm has a market cap of $13.40 billion, a price-to-earnings ratio of 17.99, a price-to-earnings-growth ratio of 0.68 and a beta of 1.28. KeyCorp has a 1 year low of $9.10 and a 1 year high of $15.86. The firm’s 50 day moving average price is $14.37 and its two-hundred day moving average price is $14.45.

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

KeyCorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Tuesday, May 28th were paid a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 5.77%. The ex-dividend date of this dividend was Friday, May 24th. KeyCorp’s dividend payout ratio is 103.80%.

Analysts Set New Price Targets

Several equities research analysts have commented on KEY shares. Keefe, Bruyette & Woods raised their price target on shares of KeyCorp from $16.00 to $18.00 and gave the company an “outperform” rating in a research note on Friday, April 5th. Wells Fargo & Company raised their price target on shares of KeyCorp from $16.00 to $18.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Jefferies Financial Group raised their price target on shares of KeyCorp from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Monday, April 8th. JPMorgan Chase & Co. dropped their price target on shares of KeyCorp from $17.50 to $16.50 and set a “neutral” rating on the stock in a research note on Thursday. Finally, Evercore ISI dropped their price target on shares of KeyCorp from $17.50 to $16.50 and set an “outperform” rating on the stock in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $17.38.

KeyCorp 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.