Orion Portfolio Solutions LLC acquired a new position in shares of KeyCorp (NYSE:KEY) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 3,295 shares of the financial services provider’s stock, valued at approximately $67,000.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. State Street Corp raised its holdings in shares of KeyCorp by 1.1% during the third quarter. State Street Corp now owns 50,413,657 shares of the financial services provider’s stock valued at $899,380,000 after acquiring an additional 554,860 shares during the period. Stifel Financial Corp increased its holdings in KeyCorp by 2.3% in the third quarter. Stifel Financial Corp now owns 995,687 shares of the financial services provider’s stock worth $17,767,000 after buying an additional 22,308 shares during the last quarter. Equitable Trust Co. lifted its stake in KeyCorp by 10.8% in the third quarter. Equitable Trust Co. now owns 11,084 shares of the financial services provider’s stock valued at $198,000 after acquiring an additional 1,084 shares during the last quarter. Pictet Asset Management Ltd. grew its position in KeyCorp by 8.9% in the third quarter. Pictet Asset Management Ltd. now owns 557,591 shares of the financial services provider’s stock worth $9,947,000 after acquiring an additional 45,600 shares in the last quarter. Finally, California State Teachers Retirement System increased its stake in shares of KeyCorp by 0.4% during the 3rd quarter. California State Teachers Retirement System now owns 1,666,616 shares of the financial services provider’s stock worth $29,732,000 after purchasing an additional 5,964 shares during the last quarter. Hedge funds and other institutional investors own 81.70% of the company’s stock.
KEY has been the subject of a number of analyst reports. Royal Bank of Canada restated a “buy” rating and issued a $22.00 price objective on shares of KeyCorp in a research note on Monday, January 27th. Wedbush lowered shares of KeyCorp from an “outperform” rating to a “neutral” rating in a research report on Monday, March 2nd. CIBC decreased their price target on shares of KeyCorp from $45.00 to $44.00 and set an “outperformer” rating for the company in a report on Friday, February 28th. TheStreet cut KeyCorp from a “b” rating to a “c+” rating in a research report on Wednesday, March 11th. Finally, Morgan Stanley decreased their target price on KeyCorp from $19.25 to $19.00 and set an “overweight” rating for the company in a research note on Tuesday, March 17th. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $24.30.
Shares of KEY stock traded up $1.64 during mid-day trading on Thursday, reaching $11.46. The company’s stock had a trading volume of 22,494,330 shares, compared to its average volume of 12,687,833. KeyCorp has a 1-year low of $7.45 and a 1-year high of $20.52. The company has a market cap of $9.52 billion, a P/E ratio of 7.07, a PEG ratio of 0.93 and a beta of 1.33. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.89 and a current ratio of 0.90. The firm’s 50-day moving average is $15.90 and its two-hundred day moving average is $18.11.
KeyCorp (NYSE:KEY) last issued its earnings results on Thursday, January 23rd. The financial services provider reported $0.48 earnings per share for the quarter, meeting the consensus estimate of $0.48. The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.65 billion. KeyCorp had a net margin of 22.06% and a return on equity of 12.54%. The firm’s revenue was down .9% on a year-over-year basis. During the same period in the previous year, the business earned $0.48 EPS. Sell-side analysts anticipate that KeyCorp will post 1.84 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Tuesday, March 3rd were paid a dividend of $0.185 per share. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $0.74 annualized dividend and a yield of 6.46%. KeyCorp’s dividend payout ratio is currently 41.11%.
KeyCorp Company Profile
KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking services in the United States. The company's Key Community Bank segment offers various deposit and investment products, personal finance services, residential mortgages, home equity loans, credit cards, and installment loans.
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