KeyCorp (KEY) Position Boosted by Korea Investment CORP

Korea Investment CORP increased its position in shares of KeyCorp (NYSE:KEY) by 56.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,238,971 shares of the financial services provider’s stock after purchasing an additional 445,339 shares during the period. Korea Investment CORP owned approximately 0.12% of KeyCorp worth $24,222,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Bank of Montreal Can boosted its position in KeyCorp by 7.1% in the 4th quarter. Bank of Montreal Can now owns 3,074,125 shares of the financial services provider’s stock valued at $62,004,000 after buying an additional 204,584 shares during the period. National Pension Service boosted its position in KeyCorp by 4.5% in the 4th quarter. National Pension Service now owns 1,113,145 shares of the financial services provider’s stock valued at $22,452,000 after buying an additional 47,814 shares during the period. Schwab Charles Investment Management Inc. boosted its position in KeyCorp by 3.8% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 3,710,242 shares of the financial services provider’s stock valued at $74,836,000 after buying an additional 134,355 shares during the period. Fox Run Management L.L.C. boosted its position in KeyCorp by 27.0% in the 4th quarter. Fox Run Management L.L.C. now owns 36,462 shares of the financial services provider’s stock valued at $735,000 after buying an additional 7,762 shares during the period. Finally, State of Alaska Department of Revenue boosted its position in KeyCorp by 25.7% in the 4th quarter. State of Alaska Department of Revenue now owns 168,222 shares of the financial services provider’s stock valued at $3,391,000 after buying an additional 34,390 shares during the period. 81.96% of the stock is owned by hedge funds and other institutional investors.

NYSE:KEY opened at $20.25 on Friday. KeyCorp has a one year low of $16.28 and a one year high of $22.40. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.89 and a quick ratio of 0.87. The stock has a market capitalization of $21.50 billion, a PE ratio of 14.89, a price-to-earnings-growth ratio of 1.25 and a beta of 1.05.



KeyCorp (NYSE:KEY) last posted its quarterly earnings results on Thursday, April 19th. The financial services provider reported $0.38 EPS for the quarter, meeting the consensus estimate of $0.38. KeyCorp had a net margin of 19.32% and a return on equity of 11.03%. The business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.56 billion. During the same quarter in the previous year, the business posted $0.32 EPS. The company’s quarterly revenue was up 3.1% compared to the same quarter last year. research analysts forecast that KeyCorp will post 1.7 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Investors of record on Tuesday, May 29th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.37%. The ex-dividend date is Friday, May 25th. This is a positive change from KeyCorp’s previous quarterly dividend of $0.11. KeyCorp’s payout ratio is 30.88%.

Several research firms have issued reports on KEY. UBS raised shares of KeyCorp from a “neutral” rating to a “positive” rating in a research report on Tuesday, April 24th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $23.00 price objective on shares of KeyCorp in a research report on Thursday, April 5th. Susquehanna Bancshares raised shares of KeyCorp from a “neutral” rating to a “positive” rating and boosted their price objective for the company from $24.00 to $25.00 in a research report on Tuesday, April 24th. BMO Capital Markets lowered their price objective on shares of KeyCorp from $25.00 to $24.00 and set an “outperform” rating for the company in a research report on Friday, April 20th. Finally, Zacks Investment Research raised shares of KeyCorp from a “sell” rating to a “hold” rating in a research report on Wednesday, April 4th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $22.45.

In related news, insider Edward J. Burke sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 8th. The shares were sold at an average price of $19.83, for a total transaction of $198,300.00. Following the completion of the transaction, the insider now owns 126,526 shares in the company, valued at approximately $2,509,010.58. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Robert A. Deangelis sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $21.11, for a total transaction of $527,750.00. Following the transaction, the insider now owns 175,053 shares of the company’s stock, valued at approximately $3,695,368.83. The disclosure for this sale can be found here. Insiders own 0.65% of the company’s stock.

KeyCorp Company Profile

KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking services in the United States. The company's Key Community Bank segment offers various deposit and investment products, personal finance services, residential mortgages, home equity loans, credit cards, and installment loans, as well as personal property and casualty insurance, such as home, auto, renters, watercraft, and umbrella insurance for individuals.

Institutional Ownership by Quarter for KeyCorp (NYSE:KEY)

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