KeyCorp (KEY) Shares Sold by Nationwide Fund Advisors
Nationwide Fund Advisors cut its stake in KeyCorp (NYSE:KEY) by 2.9% during the second quarter, Holdings Channel reports. The fund owned 234,247 shares of the financial services provider’s stock after selling 6,986 shares during the period. Nationwide Fund Advisors’ holdings in KeyCorp were worth $2,588,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. Sigma Investment Management Co boosted its stake in shares of KeyCorp by 11.0% in the second quarter. Sigma Investment Management Co now owns 11,454 shares of the financial services provider’s stock valued at $127,000 after buying an additional 1,135 shares during the last quarter. Regentatlantic Capital LLC bought a new stake in shares of KeyCorp during the second quarter valued at approximately $134,000. Stephens Inc. AR boosted its stake in shares of KeyCorp by 18.4% in the second quarter. Stephens Inc. AR now owns 13,266 shares of the financial services provider’s stock valued at $147,000 after buying an additional 2,064 shares during the last quarter. Gerstein Fisher bought a new stake in shares of KeyCorp during the second quarter valued at approximately $161,000. Finally, Equity Investment Corp GA bought a new stake in shares of KeyCorp during the second quarter valued at approximately $164,000. Institutional investors and hedge funds own 66.25% of the company’s stock.
KeyCorp (NYSE:KEY) traded up 1.34% on Monday, hitting $12.85. 2,747,037 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $12.33 and its 200-day moving average price is $11.93. KeyCorp has a 12-month low of $9.88 and a 12-month high of $14.01. The company has a market cap of $13.91 billion, a PE ratio of 13.29 and a beta of 1.21.
KeyCorp (NYSE:KEY) last announced its earnings results on Tuesday, July 26th. The financial services provider reported $0.27 earnings per share for the quarter, hitting the consensus estimate of $0.27. KeyCorp had a net margin of 17.81% and a return on equity of 8.46%. The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the prior year, the firm earned $0.27 EPS. The firm’s revenue for the quarter was down .1% on a year-over-year basis. Analysts forecast that KeyCorp will post $1.06 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Friday, July 29th were paid a dividend of $0.085 per share. This represents a $0.34 annualized dividend and a yield of 2.68%. The ex-dividend date was Wednesday, July 27th. KeyCorp’s payout ratio is currently 35.42%.
Several brokerages have recently issued reports on KEY. Wedbush began coverage on shares of KeyCorp in a research report on Thursday. They set an “outperform” rating and a $15.00 target price on the stock. Piper Jaffray Cos. cut shares of 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 report on Monday, August 29th. Vetr upgraded shares of KeyCorp from a “buy” rating to a “strong-buy” rating and set a $13.77 target price on the stock in a research report on Monday, June 13th. Citigroup Inc. upped their target price on shares of KeyCorp from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Monday, August 22nd. Finally, Zacks Investment Research upgraded shares of KeyCorp from a “sell” rating to a “hold” rating in a research report on Tuesday, October 4th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $14.39.
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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