Cambridge Investment Research Advisors Inc. Has $1.78 Million Holdings in KeyCorp (NYSE:KEY)

Cambridge Investment Research Advisors Inc. raised its position in shares of KeyCorp (NYSE:KEYFree Report) by 15.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 123,736 shares of the financial services provider’s stock after buying an additional 16,625 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in KeyCorp were worth $1,782,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Nisa Investment Advisors LLC raised its position in KeyCorp by 8.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 273,010 shares of the financial services provider’s stock valued at $3,931,000 after purchasing an additional 21,395 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of KeyCorp by 35.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 329,655 shares of the financial services provider’s stock valued at $4,747,000 after buying an additional 86,579 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of KeyCorp by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 23,416,018 shares of the financial services provider’s stock valued at $337,191,000 after buying an additional 289,258 shares during the last quarter. Aigen Investment Management LP acquired a new position in KeyCorp during the 4th quarter worth about $1,556,000. Finally, Miller Howard Investments Inc. NY bought a new stake in KeyCorp during the 4th quarter worth about $7,200,000. Institutional investors own 79.69% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Wells Fargo & Company boosted their target price on shares of KeyCorp from $16.00 to $18.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. Argus upped their price objective on KeyCorp from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Friday, April 19th. Royal Bank of Canada lifted their target price on KeyCorp from $15.00 to $16.00 and gave the company an “outperform” rating in a research note on Friday, April 19th. Morgan Stanley upped their price target on KeyCorp from $12.00 to $16.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 7th. Finally, Evercore ISI raised their price target on KeyCorp from $17.00 to $18.00 and gave the company an “outperform” rating in a report on Thursday, March 28th. One analyst has rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $16.00.

Read Our Latest Stock Analysis on KEY

KeyCorp Stock Performance

Shares of NYSE:KEY opened at $13.87 on Wednesday. The company has a market capitalization of $13.08 billion, a price-to-earnings ratio of 17.56, a P/E/G ratio of 0.68 and a beta of 1.28. The firm’s 50 day simple moving average is $14.86 and its 200 day simple moving average is $14.34. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.87 and a quick ratio of 0.87. KeyCorp has a fifty-two week low of $9.10 and a fifty-two week high of $15.86.

KeyCorp (NYSE:KEYGet Free Report) last posted its earnings results on Thursday, April 18th. The financial services provider reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.01). KeyCorp had a return on equity of 8.89% and a net margin of 7.53%. The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.51 billion. During the same quarter last year, the business posted $0.44 earnings per share. The company’s revenue for the quarter was down 10.6% on a year-over-year basis. As a group, sell-side analysts forecast that KeyCorp will post 1.14 earnings per share for the current year.

KeyCorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Tuesday, May 28th will be paid a $0.205 dividend. The ex-dividend date of this dividend is Friday, May 24th. This represents a $0.82 dividend on an annualized basis and a yield of 5.91%. KeyCorp’s payout ratio is 103.80%.

About KeyCorp

(Free Report)

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

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Institutional Ownership by Quarter for KeyCorp (NYSE:KEY)

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