KeyCorp $KEY Stock Holdings Reduced by Voya Investment Management LLC

Voya Investment Management LLC cut its position in shares of KeyCorp (NYSE:KEY) by 25.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 199,269 shares of the financial services provider’s stock after selling 69,759 shares during the period. Voya Investment Management LLC’s holdings in KeyCorp were worth $3,724,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Geode Capital Management LLC increased its holdings in KeyCorp by 1.5% in the second quarter. Geode Capital Management LLC now owns 24,676,571 shares of the financial services provider’s stock worth $428,084,000 after buying an additional 359,573 shares during the last quarter. Invesco Ltd. lifted its stake in KeyCorp by 2.4% in the second quarter. Invesco Ltd. now owns 21,112,659 shares of the financial services provider’s stock valued at $367,783,000 after acquiring an additional 488,730 shares during the last quarter. Norges Bank bought a new stake in KeyCorp in the second quarter worth approximately $195,642,000. Charles Schwab Investment Management Inc. increased its stake in shares of KeyCorp by 0.9% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 9,432,386 shares of the financial services provider’s stock worth $164,312,000 after purchasing an additional 79,670 shares during the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of KeyCorp by 12.6% during the 2nd quarter. Bank of America Corp DE now owns 7,843,378 shares of the financial services provider’s stock valued at $136,632,000 after purchasing an additional 879,678 shares in the last quarter. 79.69% of the stock is currently owned by institutional investors and hedge funds.

KeyCorp Trading Up 0.3%

KeyCorp stock opened at $21.20 on Friday. KeyCorp has a 52 week low of $12.73 and a 52 week high of $21.25. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 0.83. The firm has a market capitalization of $23.16 billion, a PE ratio of 26.17, a PEG ratio of 0.63 and a beta of 1.11. The business’s 50-day simple moving average is $18.71 and its 200-day simple moving average is $18.31.

KeyCorp (NYSE:KEY) last released its earnings results on Thursday, October 16th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.03. The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.87 billion. KeyCorp had a return on equity of 10.14% and a net margin of 10.08%.The company’s revenue was up 172.7% on a year-over-year basis. During the same quarter last year, the firm posted ($0.47) EPS. Equities research analysts forecast that KeyCorp will post 1.5 earnings per share for the current year.

KeyCorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Tuesday, December 2nd were issued a $0.205 dividend. The ex-dividend date of this dividend was Tuesday, December 2nd. This represents a $0.82 dividend on an annualized basis and a yield of 3.9%. KeyCorp’s dividend payout ratio is 101.23%.

Analyst Ratings Changes

KEY has been the subject of a number of recent research reports. The Goldman Sachs Group reiterated a “positive” rating on shares of KeyCorp in a report on Wednesday, December 10th. Jefferies Financial Group boosted their price target on KeyCorp from $19.00 to $22.00 and gave the stock a “hold” rating in a research report on Wednesday, December 10th. Wells Fargo & Company upped their price target on KeyCorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, October 3rd. Weiss Ratings reissued a “hold (c+)” rating on shares of KeyCorp in a research note on Monday. Finally, JPMorgan Chase & Co. boosted their target price on KeyCorp from $19.00 to $19.50 and gave the stock a “neutral” rating in a report on Friday, October 10th. Twelve equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $21.79.

About KeyCorp

KeyCorp is a bank holding company headquartered in Cleveland, Ohio, that operates through its primary banking subsidiary, KeyBank. It provides a broad range of banking and financial services to individual consumers, small businesses, middle-market companies and large corporations. KeyBank’s offerings span traditional deposit and lending products as well as more specialized financial solutions designed for commercial and institutional clients.

The company’s product and service mix includes retail banking products such as checking and savings accounts, consumer and residential mortgage lending, and auto financing.