AllSquare Wealth Management LLC cut its stake in KeyCorp (NYSE:KEY) by 22.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,714 shares of the financial services provider’s stock after selling 2,565 shares during the period. AllSquare Wealth Management LLC’s holdings in KeyCorp were worth $155,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of KEY. BlackRock Inc. lifted its position in shares of KeyCorp by 15.6% in the 1st quarter. BlackRock Inc. now owns 80,357,523 shares of the financial services provider’s stock worth $1,265,630,000 after acquiring an additional 10,824,887 shares during the period. FMR LLC raised its stake in shares of KeyCorp by 21.1% in the first quarter. FMR LLC now owns 18,418,818 shares of the financial services provider’s stock valued at $290,096,000 after purchasing an additional 3,204,467 shares in the last quarter. Geode Capital Management LLC lifted its position in KeyCorp by 6.1% in the fourth quarter. Geode Capital Management LLC now owns 13,284,088 shares of the financial services provider’s stock worth $195,989,000 after purchasing an additional 767,195 shares during the period. Northern Trust Corp lifted its position in KeyCorp by 1.1% in the second quarter. Northern Trust Corp now owns 11,798,679 shares of the financial services provider’s stock worth $209,426,000 after purchasing an additional 133,547 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in KeyCorp by 23.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 9,672,672 shares of the financial services provider’s stock worth $142,957,000 after purchasing an additional 1,811,571 shares during the period. 80.10% of the stock is owned by hedge funds and other institutional investors.
Shares of KeyCorp stock traded up $0.52 during mid-day trading on Monday, reaching $17.32. 501,162 shares of the stock were exchanged, compared to its average volume of 7,890,971. KeyCorp has a fifty-two week low of $13.65 and a fifty-two week high of $21.37. The company has a market cap of $17.14 billion, a price-to-earnings ratio of 10.04, a price-to-earnings-growth ratio of 2.92 and a beta of 1.28. The firm has a 50-day simple moving average of $16.89 and a 200 day simple moving average of $16.97. The company has a current ratio of 0.91, a quick ratio of 0.89 and a debt-to-equity ratio of 0.95.
KeyCorp (NYSE:KEY) last posted its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $0.44 EPS for the quarter, hitting analysts’ consensus estimates of $0.44. KeyCorp had a return on equity of 12.82% and a net margin of 23.15%. The company had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.62 billion. During the same quarter in the previous year, the firm earned $0.44 earnings per share. The business’s revenue was down 2.2% on a year-over-year basis. On average, research analysts predict that KeyCorp will post 1.79 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Tuesday, August 27th will be given a dividend of $0.185 per share. This is an increase from KeyCorp’s previous quarterly dividend of $0.17. The ex-dividend date is Monday, August 26th. This represents a $0.74 annualized dividend and a yield of 4.27%. KeyCorp’s dividend payout ratio is 42.77%.
In other KeyCorp news, insider Andrew J. Paine III sold 99,999 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $18.26, for a total transaction of $1,825,981.74. Following the sale, the insider now owns 85,469 shares of the company’s stock, valued at approximately $1,560,663.94. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.08% of the stock is owned by corporate insiders.
Several equities research analysts have issued reports on KEY shares. Wood & Company reissued an “average” rating and issued a $38.00 price target on shares of KeyCorp in a report on Thursday, May 16th. Zacks Investment Research lowered shares of KeyCorp from a “hold” rating to a “sell” rating and set a $20.00 target price on the stock. in a research report on Monday, July 8th. Robert W. Baird upgraded shares of KeyCorp from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $18.00 to $19.00 in a research report on Friday, June 21st. Credit Suisse Group raised shares of KeyCorp from an “average” rating to a “buy” rating and set a $40.00 target price on the stock in a research note on Wednesday, August 7th. Finally, Nomura set a $18.00 price target on shares of KeyCorp and gave the stock a “hold” rating in a research report on Friday, July 26th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have assigned a buy rating to the company. KeyCorp presently has a consensus rating of “Hold” and a consensus price target of $23.78.
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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