KeyCorp (NYSE:KEY) Shares Sold by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. decreased its position in shares of KeyCorp (NYSE:KEYFree Report) by 6.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 321,354 shares of the financial services provider’s stock after selling 21,090 shares during the quarter. Royal London Asset Management Ltd.’s holdings in KeyCorp were worth $4,627,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Nisa Investment Advisors LLC grew its stake in shares of 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 buying an additional 21,395 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in 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 acquiring an additional 86,579 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in 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 worth $337,191,000 after acquiring an additional 289,258 shares during the period. Aigen Investment Management LP acquired a new stake in KeyCorp during the fourth quarter worth $1,556,000. Finally, Miller Howard Investments Inc. NY purchased a new stake in KeyCorp in the fourth quarter valued at $7,200,000. Hedge funds and other institutional investors own 79.69% of the company’s stock.

Analyst Ratings Changes

KEY has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods raised their price objective on KeyCorp from $16.00 to $18.00 and gave the stock an “outperform” rating in a research report on Friday, April 5th. JPMorgan Chase & Co. boosted their price target on shares of KeyCorp from $16.00 to $18.00 and gave the company a “neutral” rating in a research note on Thursday, April 4th. Royal Bank of Canada increased their price objective on shares of KeyCorp from $15.00 to $16.00 and gave the stock an “outperform” rating in a research report on Friday, April 19th. Wells Fargo & Company boosted their target price on KeyCorp from $16.00 to $18.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Finally, Jefferies Financial Group upped their price target on KeyCorp from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $16.00.

Read Our Latest Stock Analysis on KeyCorp

KeyCorp Price Performance

Shares of NYSE:KEY opened at $13.93 on Friday. KeyCorp has a fifty-two week low of $9.10 and a fifty-two week high of $15.86. The firm’s 50 day moving average price is $14.75 and its 200 day moving average price is $14.36. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.72. The stock has a market cap of $13.13 billion, a price-to-earnings ratio of 17.63, a price-to-earnings-growth ratio of 0.67 and a beta of 1.28.

KeyCorp (NYSE:KEYGet Free Report) last posted its quarterly earnings data 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). The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.51 billion. KeyCorp had a net margin of 7.53% and a return on equity of 8.89%. KeyCorp’s revenue was down 10.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.44 earnings per share. As a group, equities research analysts predict that KeyCorp will post 1.14 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, 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 5.89%. KeyCorp’s dividend payout ratio is presently 103.80%.

KeyCorp Company Profile

(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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