Quotient Investors LLC held its position in KeyCorp (NYSE:KEY) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,800 shares of the financial services provider’s stock at the end of the second quarter. Quotient Investors LLC’s holdings in KeyCorp were worth $583,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the stock. Focused Wealth Management Inc raised its position in KeyCorp by 613.0% in the first quarter. Focused Wealth Management Inc now owns 5,961 shares of the financial services provider’s stock valued at $106,000 after buying an additional 5,125 shares during the last quarter. Thompson Davis & CO. Inc. raised its position in KeyCorp by 20.2% in the first quarter. Thompson Davis & CO. Inc. now owns 6,699 shares of the financial services provider’s stock valued at $119,000 after buying an additional 1,125 shares during the last quarter. Cypress Capital Management LLC WY raised its position in KeyCorp by 177.9% in the second quarter. Cypress Capital Management LLC WY now owns 7,030 shares of the financial services provider’s stock valued at $132,000 after buying an additional 4,500 shares during the last quarter. CI Investments Inc. purchased a new position in KeyCorp during the first quarter valued at $160,000. Finally, Equity Investment Corp Acquisition Inc purchased a new position in KeyCorp during the first quarter valued at $179,000. Institutional investors own 80.82% of the company’s stock.
KeyCorp (KEY) traded down 1.91% on Friday, hitting $18.02. 18,742,938 shares of the company were exchanged. The firm has a 50 day moving average of $18.58 and a 200-day moving average of $18.28. The stock has a market cap of $19.75 billion, a PE ratio of 20.98 and a beta of 1.13. KeyCorp has a 52-week low of $11.35 and a 52-week high of $19.53.
KeyCorp (NYSE:KEY) last issued its quarterly earnings results on Thursday, July 20th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.34. The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.53 billion. KeyCorp had a net margin of 16.62% and a return on equity of 9.88%. The business’s revenue was up 52.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.27 earnings per share. On average, equities analysts expect that KeyCorp will post $1.35 earnings per share for the current fiscal year.
KeyCorp announced that its board has authorized a stock repurchase plan on Wednesday, June 28th that allows the company to buyback $800.00 million in shares. This buyback authorization allows the financial services provider to reacquire up to 4% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Tuesday, August 29th will be paid a dividend of $0.095 per share. The ex-dividend date of this dividend is Friday, August 25th. This represents a $0.38 annualized dividend and a yield of 2.11%. KeyCorp’s payout ratio is 38.78%.
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Several equities analysts have recently commented on KEY shares. DA Davidson upgraded shares of KeyCorp from a “neutral” rating to a “buy” rating and set a $19.00 price objective on the stock in a report on Thursday. Keefe, Bruyette & Woods set a $20.00 price objective on shares of KeyCorp and gave the stock a “hold” rating in a report on Saturday, June 24th. Morgan Stanley restated an “overweight” rating and issued a $22.00 price objective (up from $21.00) on shares of KeyCorp in a report on Friday, July 7th. Jefferies Group LLC restated a “buy” rating and issued a $21.00 price objective on shares of KeyCorp in a report on Friday, July 14th. Finally, BidaskClub upgraded shares of KeyCorp from a “hold” rating to a “buy” rating in a report on Saturday, June 10th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and sixteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $19.41.
KeyCorp Company Profile
KeyCorp is a bank holding company. The Company is a bank-based financial services company. The Company operates through its subsidiary, KeyBank National Association (KeyBank), which is engaged in providing banking services. Through KeyBank and other subsidiaries, it provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, and investment banking products and services to individual, corporate and institutional clients.
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