KeyCorp (NYSE:KEY) Stock Holdings Lessened by Renaissance Technologies LLC

Renaissance Technologies LLC trimmed its position in shares of KeyCorp (NYSE:KEY) by 10.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,683,751 shares of the financial services provider’s stock after selling 188,600 shares during the period. Renaissance Technologies LLC owned 0.18% of KeyCorp worth $23,926,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ontario Teachers Pension Plan Board grew its position in KeyCorp by 8.8% during the 1st quarter. Ontario Teachers Pension Plan Board now owns 21,690,319 shares of the financial services provider’s stock worth $342,924,000 after purchasing an additional 1,748,633 shares in the last quarter. Diamond Hill Capital Management Inc. grew its position in KeyCorp by 12.2% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 20,295,788 shares of the financial services provider’s stock worth $288,403,000 after purchasing an additional 2,213,872 shares in the last quarter. Dimensional Fund Advisors LP grew its position in 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 purchasing an additional 300,339 shares in the last quarter. Earnest Partners LLC grew its position in KeyCorp by 12.7% during the 1st quarter. Earnest Partners LLC now owns 10,090,594 shares of the financial services provider’s stock worth $159,532,000 after purchasing an additional 1,137,374 shares in the last quarter. Finally, Norges Bank purchased a new position in KeyCorp during the 4th quarter worth approximately $128,203,000. 79.69% of the stock is currently owned by hedge funds and other institutional investors.

KeyCorp Trading Up 4.5 %

Shares of NYSE:KEY opened at $17.34 on Friday. The stock has a market capitalization of $16.35 billion, a PE ratio of 21.95, a P/E/G ratio of 0.90 and a beta of 1.25. KeyCorp has a 1 year low of $9.50 and a 1 year high of $17.39. The firm has a fifty day moving average price of $16.01 and a 200 day moving average price of $15.08. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.37.

KeyCorp (NYSE:KEY) last released its earnings results on Thursday, July 18th. The financial services provider reported $0.25 earnings per share for the quarter, topping 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 analyst estimates of $1.52 billion. During the same quarter in the previous year, the business earned $0.27 EPS. The business’s revenue was down 4.3% on a year-over-year basis. Analysts expect that KeyCorp will post 1.09 EPS for the current fiscal year.

KeyCorp Dividend Announcement

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 dividend on an annualized basis and a yield of 4.73%. The ex-dividend date was Tuesday, August 27th. KeyCorp’s dividend payout ratio (DPR) is 103.80%.

Insider Buying and Selling at KeyCorp

In other KeyCorp news, Director Carlton L. Highsmith sold 10,000 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $16.21, for a total transaction of $162,100.00. Following the completion of the sale, the director now directly owns 46,864 shares in the company, valued at $759,665.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. DA Davidson lifted their price objective on shares of KeyCorp from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. Morgan Stanley boosted their price target on shares of KeyCorp from $18.00 to $20.00 and gave the company an “equal weight” rating in a report on Wednesday, August 14th. JPMorgan Chase & Co. lowered 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. Keefe, Bruyette & Woods restated an “outperform” rating and set a $18.00 price target on shares of KeyCorp in a report on Tuesday, September 10th. Finally, Citigroup boosted their price target on shares of KeyCorp from $18.00 to $19.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $16.65.

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.