Hsbc Holdings PLC Acquires 460,924 Shares of KeyCorp (NYSE:KEY)

Hsbc Holdings PLC increased its holdings in KeyCorp (NYSE:KEY) by 20.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,669,749 shares of the financial services provider’s stock after acquiring an additional 460,924 shares during the quarter. Hsbc Holdings PLC owned about 0.28% of KeyCorp worth $37,750,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Freestone Capital Holdings LLC bought a new position in shares of KeyCorp during the first quarter valued at approximately $561,000. Assenagon Asset Management S.A. raised its stake in KeyCorp by 87.5% during the second quarter. Assenagon Asset Management S.A. now owns 1,308,797 shares of the financial services provider’s stock valued at $18,598,000 after buying an additional 610,688 shares during the last quarter. Commerce Bank raised its stake in KeyCorp by 399.7% during the first quarter. Commerce Bank now owns 456,136 shares of the financial services provider’s stock valued at $7,212,000 after buying an additional 364,850 shares during the last quarter. Cibc World Markets Corp boosted its holdings in KeyCorp by 44.4% in the fourth quarter. Cibc World Markets Corp now owns 217,122 shares of the financial services provider’s stock worth $3,127,000 after acquiring an additional 66,806 shares in the last quarter. Finally, Seven Eight Capital LP purchased a new stake in shares of KeyCorp in the fourth quarter worth $801,000. 79.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Citigroup upped their price target on shares of KeyCorp from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th. Jefferies Financial Group upped their target price on shares of KeyCorp from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Monday, August 19th. Morgan Stanley raised their price target on shares of KeyCorp from $18.00 to $20.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 14th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $18.00 price objective on shares of KeyCorp in a research report on Tuesday, September 10th. Finally, UBS Group lowered KeyCorp from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $16.00 to $15.00 in a report on Monday, July 8th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.65.

KeyCorp Stock Down 1.3 %

KEY opened at $17.12 on Friday. The firm’s 50 day simple moving average is $16.05 and its two-hundred day simple moving average is $15.10. The company has a market capitalization of $16.14 billion, a PE ratio of 21.67, a PEG 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 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 announced its earnings results on Thursday, July 18th. The financial services provider reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. KeyCorp had a return on equity of 8.64% and a net margin of 7.35%. The company had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.52 billion. During the same period last year, the firm earned $0.27 EPS. KeyCorp’s revenue for the quarter was down 4.3% compared to the same quarter last year. As a group, equities analysts forecast that KeyCorp will post 1.09 EPS for the current year.

KeyCorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Tuesday, August 27th were paid a dividend of $0.205 per share. The ex-dividend date was Tuesday, August 27th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.79%. KeyCorp’s dividend payout ratio (DPR) is presently 103.80%.

Insider Buying and Selling

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. 0.61% of the stock is currently owned by insiders.

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.