Atria Investments LLC grew its holdings in shares of KeyCorp (NYSE:KEY – Get Rating) by 8.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 60,445 shares of the financial services provider’s stock after acquiring an additional 4,836 shares during the period. Atria Investments LLC’s holdings in KeyCorp were worth $1,353,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of KEY. Norges Bank bought a new position in shares of KeyCorp during the fourth quarter valued at $181,634,000. Capital International Investors raised its stake in shares of KeyCorp by 8.6% during the fourth quarter. Capital International Investors now owns 83,201,801 shares of the financial services provider’s stock valued at $1,924,458,000 after acquiring an additional 6,586,364 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of KeyCorp by 213.9% during the fourth quarter. JPMorgan Chase & Co. now owns 7,238,492 shares of the financial services provider’s stock valued at $167,426,000 after acquiring an additional 4,932,777 shares during the last quarter. BlackRock Inc. raised its stake in KeyCorp by 2.1% during the fourth quarter. BlackRock Inc. now owns 83,634,140 shares of the financial services provider’s stock worth $1,934,456,000 after buying an additional 1,682,794 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC raised its stake in KeyCorp by 741.9% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 1,639,099 shares of the financial services provider’s stock worth $37,913,000 after buying an additional 1,444,414 shares during the last quarter. Institutional investors own 83.24% of the company’s stock.
KeyCorp Stock Performance
NYSE KEY opened at $17.63 on Wednesday. The company’s 50 day moving average is $18.14 and its 200-day moving average is $21.44. KeyCorp has a 12-month low of $16.41 and a 12-month high of $27.17. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.33. The firm has a market cap of $16.44 billion, a P/E ratio of 7.73, a price-to-earnings-growth ratio of 0.45 and a beta of 1.35.
KeyCorp (NYSE:KEY – Get Rating) last posted its quarterly earnings results on Thursday, July 21st. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.02. KeyCorp had a net margin of 28.53% and a return on equity of 15.01%. The company had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same quarter in the previous year, the firm posted $0.72 earnings per share. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. Sell-side analysts predict that KeyCorp will post 2.22 earnings per share for the current year.
KeyCorp Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Tuesday, August 30th will be given a $0.195 dividend. This represents a $0.78 annualized dividend and a dividend yield of 4.42%. The ex-dividend date of this dividend is Monday, August 29th. KeyCorp’s dividend payout ratio (DPR) is currently 34.21%.
Wall Street Analyst Weigh In
A number of brokerages recently weighed in on KEY. Wells Fargo & Company lowered their target price on shares of KeyCorp from $27.00 to $22.00 and set an “overweight” rating for the company in a research note on Friday, July 1st. The Goldman Sachs Group lowered their target price on shares of KeyCorp from $27.00 to $23.00 and set a “buy” rating for the company in a research note on Tuesday, May 31st. Odeon Capital Group downgraded shares of KeyCorp from a “buy” rating to a “hold” rating in a research note on Tuesday, April 26th. Morgan Stanley lifted their price target on shares of KeyCorp from $21.00 to $23.00 and gave the company an “equal weight” rating in a research note on Friday, July 22nd. Finally, Barclays decreased their price target on shares of KeyCorp from $26.00 to $24.00 and set an “underweight” rating for the company in a research note on Friday, July 22nd. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $23.25.
KeyCorp Company Profile
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; and personal finance and financial wellness, student loan refinancing, mortgage and home equity, lending, credit card, treasury, business advisory, wealth management, asset management, investment, cash management, portfolio management, and trust and related services to individuals and small and medium-sized businesses.
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