Mitsubishi UFJ Asset Management Co. Ltd. Has $41.02 Million Holdings in KeyCorp $KEY

Mitsubishi UFJ Asset Management Co. Ltd. raised its position in KeyCorp (NYSE:KEY) by 5.6% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,955,064 shares of the financial services provider’s stock after purchasing an additional 103,956 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in KeyCorp were worth $41,017,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in KEY. Wellington Management Group LLP boosted its position in KeyCorp by 90.2% in the third quarter. Wellington Management Group LLP now owns 36,370,694 shares of the financial services provider’s stock valued at $679,768,000 after buying an additional 17,245,128 shares in the last quarter. Capital World Investors raised its stake in shares of KeyCorp by 169.2% in the third quarter. Capital World Investors now owns 20,788,957 shares of the financial services provider’s stock worth $388,546,000 after acquiring an additional 13,067,326 shares during the last quarter. Two Sigma Investments LP bought a new position in shares of KeyCorp in the third quarter worth about $66,683,000. Artemis Investment Management LLP bought a new position in shares of KeyCorp in the fourth quarter worth about $55,969,000. Finally, Victory Capital Management Inc. raised its stake in shares of KeyCorp by 39.6% in the third quarter. Victory Capital Management Inc. now owns 6,856,534 shares of the financial services provider’s stock worth $128,149,000 after acquiring an additional 1,945,368 shares during the last quarter. 79.69% of the stock is currently owned by institutional investors and hedge funds.

KeyCorp Trading Down 0.4%

KEY opened at $21.61 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.83 and a quick ratio of 0.83. The company has a market cap of $23.42 billion, a price-to-earnings ratio of 13.25, a price-to-earnings-growth ratio of 0.69 and a beta of 1.06. The firm has a 50 day simple moving average of $20.72 and a 200 day simple moving average of $20.27. KeyCorp has a fifty-two week low of $15.28 and a fifty-two week high of $23.34.

KeyCorp (NYSE:KEY) last posted its quarterly earnings results on Thursday, April 16th. The financial services provider reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.03. The business had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.93 billion. KeyCorp had a net margin of 17.03% and a return on equity of 10.80%. KeyCorp’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.38 earnings per share. On average, sell-side analysts anticipate that KeyCorp will post 1.82 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Evercore reaffirmed an “outperform” rating on shares of KeyCorp in a research note on Tuesday, April 21st. Weiss Ratings raised shares of KeyCorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, February 25th. JPMorgan Chase & Co. dropped their target price on shares of KeyCorp from $24.50 to $22.50 and set a “neutral” rating for the company in a research note on Tuesday, April 7th. Robert W. Baird boosted their target price on shares of KeyCorp from $19.00 to $22.00 and gave the stock a “neutral” rating in a research note on Friday, April 17th. Finally, Wall Street Zen downgraded shares of KeyCorp from a “hold” rating to a “sell” rating in a research note on Saturday. Twelve analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $23.18.

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.