OxFORD Asset Management LLP Trims Position in KeyCorp (KEY)

OxFORD Asset Management LLP reduced its position in KeyCorp (NYSE:KEY) by 84.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,484 shares of the financial services provider’s stock after selling 141,442 shares during the quarter. OxFORD Asset Management LLP’s holdings in KeyCorp were worth $494,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of KeyCorp by 3.9% during the second quarter. Vanguard Group Inc. now owns 111,418,810 shares of the financial services provider’s stock valued at $2,087,987,000 after purchasing an additional 4,230,390 shares during the last quarter. BlackRock Inc. boosted its position in shares of KeyCorp by 2.7% during the second quarter. BlackRock Inc. now owns 86,694,342 shares of the financial services provider’s stock worth $1,624,654,000 after buying an additional 2,280,450 shares during the period. Boston Partners acquired a new position in shares of KeyCorp during the third quarter worth approximately $356,111,000. Northern Trust Corp boosted its position in shares of KeyCorp by 1.9% during the second quarter. Northern Trust Corp now owns 12,429,250 shares of the financial services provider’s stock worth $232,925,000 after buying an additional 231,558 shares during the period. Finally, Bessemer Group Inc. boosted its position in shares of KeyCorp by 0.5% during the third quarter. Bessemer Group Inc. now owns 12,065,873 shares of the financial services provider’s stock worth $227,079,000 after buying an additional 64,958 shares during the period. 80.91% of the stock is owned by hedge funds and other institutional investors.

Shares of KeyCorp (NYSE KEY) opened at $21.19 on Friday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.89 and a current ratio of 0.90. KeyCorp has a one year low of $16.28 and a one year high of $21.28. The stock has a market cap of $22,790.00, a price-to-earnings ratio of 18.43, a price-to-earnings-growth ratio of 1.65 and a beta of 1.09.

KeyCorp (NYSE:KEY) last announced its earnings results on Thursday, October 19th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.35. KeyCorp had a net margin of 18.69% and a return on equity of 10.35%. The company had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same period in the previous year, the business earned $0.30 EPS. The company’s revenue was up 13.7% on a year-over-year basis. equities research analysts anticipate that KeyCorp will post 1.37 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Tuesday, February 27th will be paid a $0.105 dividend. This represents a $0.42 dividend on an annualized basis and a dividend yield of 1.98%. KeyCorp’s dividend payout ratio (DPR) is presently 36.52%.

Several brokerages have recently issued reports on KEY. Zacks Investment Research downgraded KeyCorp from a “buy” rating to a “hold” rating and set a $23.00 price objective for the company. in a research report on Wednesday, January 3rd. Barclays boosted their price objective on KeyCorp from $19.00 to $23.00 and gave the stock an “underweight” rating in a research report on Tuesday, January 2nd. Keefe, Bruyette & Woods restated a “buy” rating and issued a $21.50 target price on shares of KeyCorp in a research report on Thursday, December 14th. Morgan Stanley restated an “overweight” rating and issued a $23.00 target price on shares of KeyCorp in a research report on Thursday, December 14th. Finally, Stephens upgraded KeyCorp from an “equal weight” rating to an “overweight” rating and set a $23.00 target price for the company in a research report on Thursday, December 14th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and sixteen have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $21.56.

In other news, insider Andrew J. Paine III sold 46,854 shares of the company’s stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $18.56, for a total value of $869,610.24. Following the transaction, the insider now directly owns 110,052 shares of the company’s stock, valued at $2,042,565.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Elizabeth R. Gile bought 1,374 shares of the stock in a transaction on Wednesday, November 22nd. The shares were acquired at an average cost of $18.23 per share, for a total transaction of $25,048.02. Following the completion of the transaction, the director now directly owns 24,989 shares of the company’s stock, valued at $455,549.47. The disclosure for this purchase can be found here. Insiders sold 57,212 shares of company stock worth $1,060,508 over the last ninety days. 0.65% of the stock is currently owned by company insiders.

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About KeyCorp

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.

Institutional Ownership by Quarter for KeyCorp (NYSE:KEY)

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