Trexquant Investment LP Has $833,000 Holdings in KeyCorp (NYSE:KEY)

Trexquant Investment LP cut its holdings in shares of KeyCorp (NYSE:KEYGet Rating) by 57.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 48,370 shares of the financial services provider’s stock after selling 64,151 shares during the quarter. Trexquant Investment LP’s holdings in KeyCorp were worth $833,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. US Bancorp DE increased its position in shares of KeyCorp by 3.4% during the second quarter. US Bancorp DE now owns 342,198 shares of the financial services provider’s stock valued at $5,896,000 after purchasing an additional 11,271 shares during the period. Atria Investments LLC increased its position in shares of KeyCorp by 8.7% during the first quarter. Atria Investments LLC now owns 60,445 shares of the financial services provider’s stock valued at $1,353,000 after purchasing an additional 4,836 shares during the period. CIBC Asset Management Inc increased its position in shares of KeyCorp by 1.0% during the first quarter. CIBC Asset Management Inc now owns 91,086 shares of the financial services provider’s stock valued at $2,039,000 after purchasing an additional 865 shares during the period. Dupont Capital Management Corp increased its position in shares of KeyCorp by 978.3% during the second quarter. Dupont Capital Management Corp now owns 77,961 shares of the financial services provider’s stock valued at $1,343,000 after purchasing an additional 70,731 shares during the period. Finally, Meeder Asset Management Inc. grew its position in KeyCorp by 125.1% in the first quarter. Meeder Asset Management Inc. now owns 32,162 shares of the financial services provider’s stock valued at $720,000 after acquiring an additional 17,876 shares during the period. 83.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other KeyCorp news, Director Carlton L. Highsmith sold 5,200 shares of the stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $17.59, for a total value of $91,468.00. Following the transaction, the director now owns 64,139 shares of the company’s stock, valued at $1,128,205.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.54% of the stock is currently owned by insiders.

KeyCorp Trading Up 0.1 %

Shares of KEY opened at $18.92 on Thursday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 1.69. KeyCorp has a 12-month low of $15.26 and a 12-month high of $27.17. The firm has a market capitalization of $17.65 billion, a PE ratio of 8.68, a price-to-earnings-growth ratio of 0.49 and a beta of 1.29. The stock’s fifty day simple moving average is $17.41 and its 200-day simple moving average is $17.99.

KeyCorp (NYSE:KEYGet Rating) last issued its quarterly earnings results on Thursday, October 20th. The financial services provider reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.03). KeyCorp had a net margin of 26.66% and a return on equity of 15.81%. During the same period last year, the business posted $0.65 EPS. As a group, research analysts predict that KeyCorp will post 2.13 earnings per share for the current year.

KeyCorp Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Tuesday, November 29th will be paid a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 4.33%. The ex-dividend date is Monday, November 28th. This is a positive change from KeyCorp’s previous quarterly dividend of $0.20. KeyCorp’s dividend payout ratio is 35.78%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. StockNews.com assumed coverage on KeyCorp in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. Morgan Stanley lowered their price target on KeyCorp from $23.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 5th. Royal Bank of Canada lowered their price target on KeyCorp from $29.00 to $24.00 and set an “outperform” rating on the stock in a research report on Friday, October 21st. TheStreet upgraded KeyCorp from a “c+” rating to a “b” rating in a research report on Thursday, November 10th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on KeyCorp from $26.50 to $23.00 and set a “hold” rating on the stock in a research report on Monday, September 12th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, KeyCorp presently has an average rating of “Hold” and an average price target of $21.64.

KeyCorp Company Profile

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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; and personal finance and financial wellness, student loan refinancing, mortgage and home equity, lending, credit card, treasury, business advisory, wealth management, asset management, investment, cash management, portfolio management, and trust and related services to individuals and small and medium-sized businesses.

Further Reading

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Institutional Ownership by Quarter for KeyCorp (NYSE:KEY)

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