Tredje AP fonden Reduces Stock Position in KeyCorp (NYSE:KEY)

Tredje AP fonden trimmed its holdings in shares of KeyCorp (NYSE:KEY) by 1.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 273,394 shares of the financial services provider’s stock after selling 4,164 shares during the period. Tredje AP fonden’s holdings in KeyCorp were worth $3,885,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the business. Meiji Yasuda Asset Management Co Ltd. lifted its stake in KeyCorp by 8.7% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 14,303 shares of the financial services provider’s stock worth $203,000 after purchasing an additional 1,150 shares during the last quarter. Edgestream Partners L.P. purchased a new position in KeyCorp in the second quarter valued at approximately $2,570,000. Quantbot Technologies LP raised its holdings in KeyCorp by 67.6% during the second quarter. Quantbot Technologies LP now owns 306,556 shares of the financial services provider’s stock worth $4,356,000 after purchasing an additional 123,659 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of KeyCorp by 2.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 10,508,853 shares of the financial services provider’s stock worth $149,299,000 after buying an additional 300,339 shares during the last quarter. Finally, WINTON GROUP Ltd acquired a new position in shares of KeyCorp in the 2nd quarter valued at $529,000. 79.69% of the stock is owned by institutional investors and hedge funds.

KeyCorp Stock Up 0.2 %

KEY stock opened at $16.60 on Thursday. The stock has a market capitalization of $15.65 billion, a PE ratio of 21.01, a price-to-earnings-growth ratio of 0.90 and a beta of 1.25. The company has a fifty day moving average of $15.97 and a 200-day moving average of $15.07. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.85 and a current ratio of 0.85. KeyCorp has a one year low of $9.50 and a one year high of $17.20.

KeyCorp (NYSE:KEY) last announced its quarterly earnings data on Thursday, July 18th. The financial services provider reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. KeyCorp had a net margin of 7.35% and a return on equity of 8.64%. The firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter last year, the firm earned $0.27 earnings per share. The firm’s revenue was down 4.3% compared to the same quarter last year. As a group, analysts expect that KeyCorp will post 1.09 EPS for the current year.

KeyCorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Tuesday, August 27th were paid a $0.205 dividend. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.94%. KeyCorp’s dividend payout ratio (DPR) is presently 103.80%.

Analysts Set New Price Targets

KEY has been the topic of several research analyst reports. DA Davidson lifted their price target on shares of KeyCorp from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $18.00 target price on shares of KeyCorp in a research report on Tuesday, September 10th. Wedbush upped their target price on KeyCorp from $16.00 to $17.00 and gave the company a “neutral” rating in a research report on Tuesday, August 13th. UBS Group downgraded KeyCorp from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $16.00 to $15.00 in a research note on Monday, July 8th. Finally, Jefferies Financial Group boosted their price objective on KeyCorp from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Monday, August 19th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $16.65.

Insider Activity at KeyCorp

In other KeyCorp news, Director Carlton L. Highsmith sold 10,000 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $16.21, for a total value of $162,100.00. Following the completion of the transaction, the director now owns 46,864 shares in the company, valued at $759,665.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.61% of the company’s stock.

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.