Dimensional Fund Advisors LP Acquires 300,339 Shares of KeyCorp (NYSE:KEY)

Dimensional Fund Advisors LP grew its position in KeyCorp (NYSE:KEY) by 2.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,508,853 shares of the financial services provider’s stock after purchasing an additional 300,339 shares during the period. Dimensional Fund Advisors LP owned about 1.11% of KeyCorp worth $149,299,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Pathway Financial Advisers LLC acquired a new stake in KeyCorp in the first quarter worth $25,000. Crewe Advisors LLC acquired a new stake in KeyCorp in the first quarter worth $32,000. Quarry LP acquired a new stake in KeyCorp in the fourth quarter worth $38,000. Fidelis Capital Partners LLC acquired a new stake in KeyCorp in the first quarter worth $39,000. Finally, Centerpoint Advisors LLC raised its holdings in KeyCorp by 127.7% in the first quarter. Centerpoint Advisors LLC now owns 3,757 shares of the financial services provider’s stock worth $59,000 after purchasing an additional 2,107 shares during the period. 79.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently commented on KEY. Royal Bank of Canada restated an “outperform” rating and set a $17.00 price objective on shares of KeyCorp in a report on Tuesday, August 13th. UBS Group lowered shares of KeyCorp from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $16.00 to $15.00 in a report on Monday, July 8th. Wedbush raised their price objective on shares of KeyCorp from $16.00 to $17.00 and gave the stock a “neutral” rating in a report on Tuesday, August 13th. Citigroup raised their price objective on shares of KeyCorp from $18.00 to $19.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th. Finally, DA Davidson raised their price objective on shares of KeyCorp from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Friday, July 19th. 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’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $16.65.

KeyCorp Stock Performance

Shares of KEY opened at $17.12 on Friday. The firm has a 50-day moving average of $16.05 and a 200-day moving average of $15.10. KeyCorp has a one year low of $9.50 and a one year high of $17.39. The company has a market cap of $16.14 billion, a PE ratio of 21.67, a price-to-earnings-growth ratio of 0.90 and a beta of 1.25. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.85 and a quick ratio of 0.85.

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

KeyCorp Dividend Announcement

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

Insiders Place Their Bets

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