KeyCorp (KEY) Stake Boosted by Blair William & Co. IL
Blair William & Co. IL raised its stake in KeyCorp (NYSE:KEY) by 4.3% during the second quarter, Holdings Channel reports. The fund owned 15,168 shares of the financial services provider’s stock after buying an additional 625 shares during the period. Blair William & Co. IL’s holdings in KeyCorp were worth $168,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bank of Montreal Can acquired a new position in KeyCorp during the second quarter valued at about $185,766,000. Renaissance Technologies LLC acquired a new position in KeyCorp during the first quarter valued at about $30,658,000. Samlyn Capital LLC boosted its position in KeyCorp by 69.5% in the first quarter. Samlyn Capital LLC now owns 14,217,900 shares of the financial services provider’s stock valued at $156,966,000 after buying an additional 5,830,900 shares during the last quarter. Geode Capital Management LLC boosted its position in KeyCorp by 2.7% in the first quarter. Geode Capital Management LLC now owns 7,476,448 shares of the financial services provider’s stock valued at $82,386,000 after buying an additional 195,301 shares during the last quarter. Finally, Fox Run Management L.L.C. boosted its position in KeyCorp by 14.5% in the second quarter. Fox Run Management L.L.C. now owns 28,500 shares of the financial services provider’s stock valued at $315,000 after buying an additional 3,600 shares during the last quarter. 66.25% of the stock is owned by institutional investors.
Shares of KeyCorp (NYSE:KEY) traded up 0.41% on Wednesday, hitting $12.24. The stock had a trading volume of 13,869,162 shares. The firm’s 50 day moving average is $12.22 and its 200-day moving average is $11.83. KeyCorp has a one year low of $9.88 and a one year high of $14.01. The stock has a market capitalization of $13.25 billion, a PE ratio of 12.66 and a beta of 1.23.
KeyCorp (NYSE:KEY) last announced its quarterly earnings data on Tuesday, July 26th. The financial services provider reported $0.27 EPS for the quarter, hitting analysts’ consensus estimates of $0.27. KeyCorp had a return on equity of 8.46% and a net margin of 17.81%. The business earned $1.07 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same period in the previous year, the firm earned $0.27 earnings per share. The firm’s quarterly revenue was down .1% compared to the same quarter last year. Equities research analysts expect that KeyCorp will post $1.06 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Friday, July 29th were paid a $0.085 dividend. The ex-dividend date of this dividend was Wednesday, July 27th. This represents a $0.34 dividend on an annualized basis and a yield of 2.78%. KeyCorp’s payout ratio is 35.42%.
Several research analysts have recently issued reports on KEY shares. Citigroup Inc. increased their price target on KeyCorp from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Monday, August 22nd. Jefferies Group reaffirmed a “buy” rating on shares of KeyCorp in a research note on Wednesday, June 29th. Nomura reaffirmed a “buy” rating and set a $12.00 target price on shares of KeyCorp in a research note on Sunday, July 10th. Morgan Stanley raised KeyCorp from an “equal weight” rating to an “overweight” rating and set a $15.00 target price for the company in a research note on Tuesday, July 5th. Finally, Piper Jaffray Cos. cut KeyCorp from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $14.50 to $13.00 in a research note on Monday, August 29th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $14.37.
KeyCorp Company Profile
KeyCorp is a bank holding company. The Bank operates through its subsidiary, KeyBank National Association (KeyBank), which is engaged in providing banking services. Through KeyBank and other subsidiaries, the Company provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, commercial mortgage servicing and special servicing, and investment banking products and services to individual, corporate and institutional clients.
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