Headlands Technologies LLC Acquires 15,913 Shares of KeyCorp (NYSE:KEY)

Headlands Technologies LLC increased its holdings in KeyCorp (NYSE:KEY) by 235.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,658 shares of the financial services provider’s stock after acquiring an additional 15,913 shares during the quarter. Headlands Technologies LLC’s holdings in KeyCorp were worth $322,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Pathway Financial Advisers LLC bought a new position in shares of KeyCorp in the 1st quarter worth about $25,000. Crewe Advisors LLC bought a new stake in KeyCorp during the 1st quarter valued at about $32,000. Quarry LP bought a new stake in KeyCorp during the 4th quarter valued at about $38,000. Fidelis Capital Partners LLC bought a new stake in KeyCorp during the 1st quarter valued at about $39,000. Finally, Centerpoint Advisors LLC increased its stake in KeyCorp by 127.7% during the 1st quarter. Centerpoint Advisors LLC now owns 3,757 shares of the financial services provider’s stock valued at $59,000 after purchasing an additional 2,107 shares in the last quarter. 79.69% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on KEY shares. Keefe, Bruyette & Woods restated an “outperform” rating and set a $18.00 price objective on shares of KeyCorp in a research note on Tuesday. Jefferies Financial Group raised their price objective on shares of KeyCorp from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Monday, August 19th. Royal Bank of Canada restated an “outperform” rating and set a $17.00 price objective on shares of KeyCorp in a research note on Tuesday, August 13th. Wedbush raised their price objective on shares of KeyCorp from $16.00 to $17.00 and gave the company a “neutral” rating in a research note on Tuesday, August 13th. Finally, 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 report on Thursday, June 27th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $16.65.

KeyCorp Stock Performance

KEY opened at $16.09 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.37. The company has a market cap of $15.17 billion, a price-to-earnings ratio of 20.37, a PEG ratio of 0.88 and a beta of 1.25. The company’s 50 day moving average is $15.84 and its 200 day moving average is $15.01. KeyCorp has a 12-month low of $9.50 and a 12-month high of $17.20.

KeyCorp (NYSE:KEY) last issued its quarterly earnings results on Thursday, July 18th. The financial services provider reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.01. KeyCorp had a net margin of 7.35% and a return on equity of 8.64%. The business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter in the previous year, the firm earned $0.27 earnings per share. The company’s revenue for the quarter was down 4.3% on a year-over-year basis. On average, equities research analysts predict that KeyCorp will post 1.09 EPS for the current year.

KeyCorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Tuesday, August 27th were issued a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 5.10%. The ex-dividend date of this dividend was Tuesday, August 27th. KeyCorp’s dividend payout ratio is currently 103.80%.

Insider Buying and Selling at KeyCorp

In other KeyCorp news, Director Carlton L. Highsmith sold 10,000 shares of KeyCorp stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $16.21, for a total transaction of $162,100.00. Following the transaction, the director now owns 46,864 shares of the company’s stock, valued at $759,665.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.61% of the company’s stock.

About KeyCorp

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.