Schroder Investment Management Group Decreases Stock Position in KeyCorp (NYSE:KEY)

Schroder Investment Management Group lowered its stake in KeyCorp (NYSE:KEY – Get Rating) by 2.8% during the 4th quarter, Holdings Channel reports. The firm owned 3,647,457 shares of the financial services provider’s stock after selling 104,306 shares during the quarter. Schroder Investment Management Group’s holdings in KeyCorp were worth $63,539,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Guardian Wealth Advisors LLC purchased a new stake in KeyCorp in the 3rd quarter valued at about $25,000. Canada Pension Plan Investment Board bought a new position in shares of KeyCorp during the 1st quarter worth $38,000. Point72 Hong Kong Ltd bought a new position in shares of KeyCorp during the 1st quarter worth $40,000. RE Dickinson Investment Advisors LLC bought a new position in shares of KeyCorp during the 4th quarter worth $32,000. Finally, U.S. Capital Wealth Advisors LLC bought a new position in shares of KeyCorp during the 4th quarter worth $35,000. 82.11% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Citigroup cut their price objective on shares of KeyCorp from $20.00 to $16.00 and set a “buy” rating on the stock in a report on Friday, April 21st. Barclays reduced their target price on shares of KeyCorp from $24.00 to $15.00 in a report on Wednesday, April 12th. Wells Fargo & Company decreased their price objective on KeyCorp from $20.00 to $17.00 and set an “overweight” rating for the company in a report on Friday, April 21st. Robert W. Baird upgraded KeyCorp from a “neutral” rating to an “outperform” rating and set a $20.00 price objective for the company in a report on Friday, March 10th. Finally, Keefe, Bruyette & Woods decreased their price objective on KeyCorp from $20.00 to $19.00 and set a “market perform” rating for the company in a report on Wednesday, March 8th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $15.97.

Insider Activity

In related news, insider Amy G. Brady sold 45,000 shares of the stock in a transaction on Friday, March 10th. The stock was sold at an average price of $15.58, for a total value of $701,100.00. Following the transaction, the insider now directly owns 119,121 shares of the company’s stock, valued at approximately $1,855,905.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Andrew J. Paine III bought 75,000 shares of the stock in a transaction dated Wednesday, May 3rd. The stock was acquired at an average price of $9.78 per share, for a total transaction of $733,500.00. Following the completion of the purchase, the insider now owns 335,414 shares in the company, valued at $3,280,348.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Amy G. Brady sold 45,000 shares of KeyCorp stock in a transaction on Friday, March 10th. The stock was sold at an average price of $15.58, for a total transaction of $701,100.00. Following the sale, the insider now directly owns 119,121 shares in the company, valued at approximately $1,855,905.18. The disclosure for this sale can be found here. Insiders purchased a total of 87,700 shares of company stock valued at $883,407 in the last 90 days. 0.61% of the stock is currently owned by insiders.

KeyCorp Stock Performance

NYSE KEY traded down $0.23 on Friday, hitting $9.88. 690,629 shares of the company’s stock were exchanged, compared to its average volume of 21,997,199. The company has a debt-to-equity ratio of 1.92, a current ratio of 0.86 and a quick ratio of 0.86. The firm’s 50-day moving average price is $11.08 and its two-hundred day moving average price is $15.56. KeyCorp has a fifty-two week low of $8.53 and a fifty-two week high of $20.30. The firm has a market cap of $9.24 billion, a price-to-earnings ratio of 5.71, a P/E/G ratio of 1.41 and a beta of 1.24.

KeyCorp (NYSE:KEY – Get Rating) last issued its quarterly earnings data on Thursday, April 20th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.44. KeyCorp had a return on equity of 15.63% and a net margin of 19.09%. The firm had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same period in the previous year, the firm posted $0.45 earnings per share. KeyCorp’s revenue was up 1.1% on a year-over-year basis. On average, research analysts expect that KeyCorp will post 1.69 EPS for the current year.

KeyCorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Tuesday, May 30th will be paid a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 8.30%. The ex-dividend date of this dividend is Friday, May 26th. KeyCorp’s dividend payout ratio is currently 46.33%.

About KeyCorp

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KeyCorp is a bank holding company, which engages in the provision of financial services. It provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, student loan refinancing, commercial mortgage servicing and special servicing, and investment banking products and services to individual, corporate, and institutional clients.