Invst LLC Has $674,000 Holdings in KeyCorp (NYSE:KEY)

Invst LLC decreased its stake in KeyCorp (NYSE:KEY) by 4.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 47,388 shares of the financial services provider’s stock after selling 2,204 shares during the period. Invst LLC’s holdings in KeyCorp were worth $674,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of KEY. Freestone Capital Holdings LLC acquired a new stake in KeyCorp in the 1st quarter worth $561,000. Assenagon Asset Management S.A. lifted its stake in shares of KeyCorp by 87.5% in 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 period. Commerce Bank grew its position in KeyCorp by 399.7% during the first quarter. Commerce Bank now owns 456,136 shares of the financial services provider’s stock worth $7,212,000 after buying an additional 364,850 shares in the last quarter. Cibc World Markets Corp increased its stake in KeyCorp by 44.4% during the fourth quarter. Cibc World Markets Corp now owns 217,122 shares of the financial services provider’s stock valued at $3,127,000 after acquiring an additional 66,806 shares during the period. Finally, Seven Eight Capital LP acquired a new position in KeyCorp in the 4th quarter valued at approximately $801,000. Institutional investors and hedge funds own 79.69% of the company’s stock.

KeyCorp Stock Performance

Shares of NYSE:KEY opened at $16.75 on Tuesday. The business has a fifty day moving average of $16.15 and a 200-day moving average of $15.18. The firm has a market cap of $15.80 billion, a PE ratio of 21.20, a price-to-earnings-growth ratio of 0.93 and a beta of 1.25. 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 twelve month low of $9.50 and a twelve month high of $17.39.

KeyCorp (NYSE:KEY) last announced 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 company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same period in the previous year, the firm posted $0.27 earnings per share. The company’s revenue 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 fiscal year.

KeyCorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Tuesday, August 27th were given a $0.205 dividend. The ex-dividend date was Tuesday, August 27th. This represents a $0.82 dividend on an annualized basis and a yield of 4.90%. KeyCorp’s payout ratio is 103.80%.

Insider Activity

In other news, Director Carlton L. Highsmith sold 10,000 shares of the company’s stock in a transaction on Friday, August 16th. The stock was 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 at this hyperlink. Insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. DA Davidson lifted their price objective on KeyCorp from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Friday, July 19th. JPMorgan Chase & Co. decreased their price target on shares of KeyCorp from $17.50 to $16.50 and set a “neutral” rating on the stock in a research note on Thursday, June 27th. 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. Jefferies Financial Group upped their target price 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. Finally, Royal Bank of Canada restated an “outperform” rating and set a $17.00 price target on shares of KeyCorp in a research note on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $16.71.

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.