Register Financial Advisors LLC Increases Stock Holdings in KeyCorp (NYSE:KEY)

Register Financial Advisors LLC boosted its position in shares of KeyCorp (NYSE:KEY) by 31.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,543 shares of the financial services provider’s stock after acquiring an additional 2,522 shares during the quarter. Register Financial Advisors LLC’s holdings in KeyCorp were worth $167,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of KEY. Norges Bank purchased a new position in KeyCorp during the 4th quarter valued at about $128,203,000. Ceredex Value Advisors LLC purchased a new position in KeyCorp during the 4th quarter valued at about $64,421,000. AQR Capital Management LLC boosted its holdings in KeyCorp by 844.4% during the 3rd quarter. AQR Capital Management LLC now owns 3,160,631 shares of the financial services provider’s stock valued at $34,008,000 after acquiring an additional 2,825,977 shares during the period. Balyasny Asset Management L.P. boosted its stake in shares of KeyCorp by 26,297.7% in the 4th quarter. Balyasny Asset Management L.P. now owns 2,708,664 shares of the financial services provider’s stock valued at $39,005,000 after buying an additional 2,698,403 shares during the period. Finally, Impax Asset Management Group plc boosted its stake in shares of KeyCorp by 11,813.2% in the 4th quarter. Impax Asset Management Group plc now owns 2,289,724 shares of the financial services provider’s stock valued at $32,972,000 after buying an additional 2,270,504 shares during the period. 79.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on KEY shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $41.00 price objective on shares of KeyCorp in a research note on Tuesday. JPMorgan Chase & Co. decreased their price objective on KeyCorp from $17.50 to $16.50 and set a “neutral” rating for the company in a research note on Thursday. Argus lifted their price objective on KeyCorp from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Friday, April 19th. Keefe, Bruyette & Woods lifted their price objective on KeyCorp from $16.00 to $18.00 and gave the company an “outperform” rating in a research note on Friday, April 5th. Finally, Evercore ISI decreased their price objective on KeyCorp from $17.50 to $16.50 and set an “outperform” rating for the company in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $17.38.

KeyCorp Trading Up 4.3 %

KEY opened at $14.21 on Friday. 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 0.69 and a beta of 1.28. KeyCorp has a 52 week low of $9.10 and a 52 week high of $15.86. The business’s 50 day moving average is $14.37 and its two-hundred day moving average is $14.45. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.72.

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

KeyCorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Tuesday, May 28th were issued a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 5.77%. The ex-dividend date was Friday, May 24th. 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.