Wealthfront Advisers LLC reduced its stake in KeyCorp (NYSE:KEY) by 3.6% during the 1st quarter, HoldingsChannel.com reports. The fund owned 70,359 shares of the financial services provider’s stock after selling 2,590 shares during the period. Wealthfront Advisers LLC’s holdings in KeyCorp were worth $1,108,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc boosted its position in KeyCorp by 1.4% during the third quarter. Vanguard Group Inc now owns 114,959,582 shares of the financial services provider’s stock worth $2,286,547,000 after purchasing an additional 1,604,187 shares in the last quarter. Keybank National Association OH purchased a new stake in KeyCorp during the fourth quarter worth $188,000. Pinnacle Associates Ltd. boosted its position in KeyCorp by 12.4% during the fourth quarter. Pinnacle Associates Ltd. now owns 132,537 shares of the financial services provider’s stock worth $1,959,000 after purchasing an additional 14,602 shares in the last quarter. Comerica Securities Inc. boosted its position in KeyCorp by 3.6% during the fourth quarter. Comerica Securities Inc. now owns 55,717 shares of the financial services provider’s stock worth $823,000 after purchasing an additional 1,948 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its position in KeyCorp by 4.0% during the fourth quarter. Daiwa Securities Group Inc. now owns 39,084 shares of the financial services provider’s stock worth $578,000 after purchasing an additional 1,500 shares in the last quarter. 80.51% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Amy G. Brady sold 13,238 shares of the stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $17.00, for a total transaction of $225,046.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.08% of the stock is owned by corporate insiders.
KEY has been the topic of a number of research analyst reports. Zacks Investment Research downgraded KeyCorp from a “hold” rating to a “sell” rating in a research report on Monday, February 18th. Scotiabank reiterated a “buy” rating and set a $36.00 target price on shares of KeyCorp in a research report on Friday, February 22nd. ValuEngine downgraded KeyCorp from a “sell” rating to a “strong sell” rating in a research report on Friday, March 22nd. Nomura upgraded KeyCorp from a “reduce” rating to a “neutral” rating and set a $16.00 target price on the stock in a research report on Friday, March 29th. Finally, JPMorgan Chase & Co. downgraded KeyCorp from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $18.00 to $17.00 in a research report on Thursday, April 4th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $23.36.
Shares of NYSE:KEY traded down $0.21 on Friday, hitting $16.86. The company had a trading volume of 202,531 shares, compared to its average volume of 7,383,176. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 0.98. KeyCorp has a 52-week low of $13.65 and a 52-week high of $21.91. The company has a market capitalization of $17.16 billion, a P/E ratio of 9.75, a P/E/G ratio of 1.20 and a beta of 1.23.
KeyCorp (NYSE:KEY) last issued its quarterly earnings data on Thursday, April 18th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by ($0.02). KeyCorp had a net margin of 24.18% and a return on equity of 13.16%. The company had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.60 billion. During the same quarter in the prior year, the company earned $0.38 earnings per share. The firm’s revenue was down 2.1% compared to the same quarter last year. On average, sell-side analysts anticipate that KeyCorp will post 1.8 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Tuesday, May 28th will be given a $0.17 dividend. The ex-dividend date is Friday, May 24th. This represents a $0.68 annualized dividend and a dividend yield of 4.03%. KeyCorp’s dividend payout ratio is currently 39.31%.
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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