Commonwealth Equity Services LLC Has $5.09 Million Stock Holdings in KeyCorp (NYSE:KEY)

Commonwealth Equity Services LLC lifted its stake in shares of KeyCorp (NYSE:KEY) by 3.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 406,236 shares of the financial services provider’s stock after acquiring an additional 13,973 shares during the quarter. Commonwealth Equity Services LLC’s holdings in KeyCorp were worth $5,086,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Handelsbanken Fonder AB raised its position in shares of KeyCorp by 0.3% during the first quarter. Handelsbanken Fonder AB now owns 325,124 shares of the financial services provider’s stock worth $4,071,000 after acquiring an additional 1,082 shares during the last quarter. CWM LLC raised its position in shares of KeyCorp by 42.3% during the first quarter. CWM LLC now owns 41,231 shares of the financial services provider’s stock worth $516,000 after acquiring an additional 12,247 shares during the last quarter. Teacher Retirement System of Texas raised its position in shares of KeyCorp by 19.7% during the fourth quarter. Teacher Retirement System of Texas now owns 256,989 shares of the financial services provider’s stock worth $4,477,000 after acquiring an additional 42,243 shares during the last quarter. Quadrant Capital Group LLC raised its position in shares of KeyCorp by 24.5% during the fourth quarter. Quadrant Capital Group LLC now owns 8,836 shares of the financial services provider’s stock worth $154,000 after acquiring an additional 1,739 shares during the last quarter. Finally, Acrisure Capital Management LLC bought a new position in shares of KeyCorp during the fourth quarter worth about $279,000. 77.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

KEY has been the subject of a number of research analyst reports. Citigroup lifted their target price on KeyCorp from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Monday, July 24th. StockNews.com initiated coverage on KeyCorp in a report on Thursday, August 17th. They issued a “sell” rating for the company. Morgan Stanley reiterated an “equal weight” rating and issued a $10.00 target price on shares of KeyCorp in a report on Friday, July 21st. Royal Bank of Canada lowered their target price on KeyCorp from $16.00 to $14.00 in a report on Tuesday, June 13th. Finally, JPMorgan Chase & Co. upgraded KeyCorp from an “underweight” rating to a “neutral” rating and boosted their price objective for the company from $11.50 to $13.50 in a report on Wednesday, August 2nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, KeyCorp presently has an average rating of “Hold” and a consensus price target of $14.60.

KeyCorp Stock Up 2.0 %

Shares of NYSE:KEY opened at $11.56 on Friday. The stock has a market cap of $10.82 billion, a price-to-earnings ratio of 7.71, a PEG ratio of 2.00 and a beta of 1.26. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 1.95. KeyCorp has a 12-month low of $8.53 and a 12-month high of $20.30. The business’s 50 day moving average is $10.88 and its 200 day moving average is $11.82.

KeyCorp (NYSE:KEY) last posted its quarterly earnings data on Thursday, July 20th. The financial services provider reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.05). KeyCorp had a return on equity of 13.78% and a net margin of 14.93%. The business had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.62 billion. During the same period in the prior year, the firm posted $0.54 EPS. The firm’s revenue for the quarter was down 11.0% on a year-over-year basis. On average, sell-side analysts forecast that KeyCorp will post 1.26 earnings per share for the current fiscal year.

KeyCorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Tuesday, August 29th will be given a $0.205 dividend. The ex-dividend date of this dividend is Monday, August 28th. This represents a $0.82 annualized dividend and a yield of 7.09%. KeyCorp’s dividend payout ratio is currently 54.67%.

Insiders Place Their Bets

In other KeyCorp news, Director Devina A. Rankin acquired 10,000 shares of the business’s stock in a transaction on Thursday, August 10th. The shares were acquired at an average price of $11.49 per share, with a total value of $114,900.00. Following the completion of the transaction, the director now owns 10,000 shares in the company, valued at $114,900. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.54% of the company’s stock.

About KeyCorp

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.