KeyCorp (NYSE:KEY) Stake Increased by KBC Group NV

KBC Group NV raised its stake in shares of KeyCorp (NYSE:KEYFree Report) by 71.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 78,896 shares of the financial services provider’s stock after acquiring an additional 32,785 shares during the quarter. KBC Group NV’s holdings in KeyCorp were worth $1,136,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Ontario Teachers Pension Plan Board acquired a new position in KeyCorp in the third quarter worth about $274,773,000. Norges Bank bought a new stake in shares of KeyCorp in the 4th quarter valued at approximately $128,203,000. Ceredex Value Advisors LLC acquired a new stake in shares of KeyCorp during the 4th quarter valued at approximately $64,421,000. FMR LLC lifted its stake in KeyCorp by 14.4% during the third quarter. FMR LLC now owns 31,781,539 shares of the financial services provider’s stock worth $341,969,000 after purchasing an additional 3,992,226 shares during the last quarter. Finally, AQR Capital Management LLC boosted its holdings in KeyCorp by 844.4% in the third quarter. AQR Capital Management LLC now owns 3,160,631 shares of the financial services provider’s stock worth $34,008,000 after purchasing an additional 2,825,977 shares during the period. 79.69% of the stock is owned by institutional investors and hedge funds.

KeyCorp Stock Performance

KEY stock opened at $13.93 on Friday. The company has a 50-day simple moving average of $14.75 and a 200 day simple moving average of $14.36. The company has a market capitalization of $13.13 billion, a P/E ratio of 17.63, a PEG ratio of 0.67 and a beta of 1.28. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.72. 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 issued its quarterly earnings results on Thursday, April 18th. The financial services provider reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). KeyCorp had a return on equity of 8.89% and a net margin of 7.53%. The company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.51 billion. During the same period in the prior year, the company posted $0.44 earnings per share. The company’s revenue was down 10.6% on a year-over-year basis. Sell-side analysts predict that KeyCorp will post 1.14 earnings per share for the current fiscal year.

KeyCorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Tuesday, May 28th will be given a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 5.89%. The ex-dividend date of this dividend is Friday, May 24th. KeyCorp’s dividend payout ratio (DPR) is presently 103.80%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on KEY. Keefe, Bruyette & Woods raised their price target on shares of 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. raised their target price on shares of KeyCorp from $16.00 to $18.00 and gave the stock a “neutral” rating in a report on Thursday, April 4th. Royal Bank of Canada upped their target price on KeyCorp from $15.00 to $16.00 and gave the company an “outperform” rating in a report on Friday, April 19th. Evercore ISI raised their price target on KeyCorp from $17.00 to $18.00 and gave the stock an “outperform” rating in a report on Thursday, March 28th. Finally, Wells Fargo & Company upped their price objective on KeyCorp from $16.00 to $18.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, KeyCorp currently has a consensus rating of “Moderate Buy” and an average target price of $16.00.

View Our Latest Stock Report on KeyCorp

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.

See Also

Institutional Ownership by Quarter for KeyCorp (NYSE:KEY)

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