KeyCorp $KEY Shares Acquired by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP boosted its holdings in KeyCorp (NYSE:KEY) by 0.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,715,272 shares of the financial services provider’s stock after purchasing an additional 28,499 shares during the quarter. Dimensional Fund Advisors LP’s holdings in KeyCorp were worth $214,800,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of KEY. MCF Advisors LLC grew its position in KeyCorp by 31.6% during the 4th quarter. MCF Advisors LLC now owns 1,898 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 456 shares during the last quarter. Prime Capital Investment Advisors LLC raised its stake in KeyCorp by 1.7% during the 4th quarter. Prime Capital Investment Advisors LLC now owns 28,498 shares of the financial services provider’s stock valued at $588,000 after acquiring an additional 486 shares during the last quarter. Harbour Investments Inc. lifted its position in KeyCorp by 19.0% during the 4th quarter. Harbour Investments Inc. now owns 3,180 shares of the financial services provider’s stock worth $66,000 after acquiring an additional 508 shares during the period. Centennial Wealth Advisory LLC lifted its position in KeyCorp by 1.2% during the 4th quarter. Centennial Wealth Advisory LLC now owns 44,986 shares of the financial services provider’s stock worth $929,000 after acquiring an additional 524 shares during the period. Finally, CoreCap Advisors LLC grew its stake in shares of KeyCorp by 4.6% in the 4th quarter. CoreCap Advisors LLC now owns 12,198 shares of the financial services provider’s stock valued at $252,000 after purchasing an additional 539 shares during the last quarter. Institutional investors and hedge funds own 79.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on KEY. Susquehanna boosted their target price on KeyCorp from $300.00 to $415.00 and gave the company a “positive” rating in a report on Monday, May 18th. UBS Group lifted their price objective on shares of KeyCorp from $25.00 to $27.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. Wells Fargo & Company boosted their price objective on shares of KeyCorp from $24.00 to $27.00 and gave the company an “overweight” rating in a research note on Monday, July 6th. Evercore restated an “outperform” rating on shares of KeyCorp in a research report on Tuesday, April 21st. Finally, The Goldman Sachs Group raised their target price on shares of KeyCorp from $25.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday, April 17th. Thirteen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, KeyCorp has an average rating of “Moderate Buy” and a consensus price target of $49.14.

KeyCorp Trading Down 0.4%

Shares of KEY stock opened at $22.64 on Friday. The business’s fifty day moving average price is $22.47 and its 200 day moving average price is $21.60. The firm has a market capitalization of $24.43 billion, a PE ratio of 13.16, a P/E/G ratio of 0.74 and a beta of 1.02. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.84 and a quick ratio of 0.83. KeyCorp has a 1-year low of $16.47 and a 1-year high of $24.07.

KeyCorp (NYSE:KEY) last released its earnings results on Tuesday, July 21st. The financial services provider reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.02. The company had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.97 billion. KeyCorp had a return on equity of 11.23% and a net margin of 17.83%.KeyCorp’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.35 earnings per share. As a group, sell-side analysts forecast that KeyCorp will post 1.83 EPS for the current fiscal year.

KeyCorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be paid a $0.205 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $0.82 annualized dividend and a dividend yield of 3.6%. KeyCorp’s dividend payout ratio (DPR) is 47.67%.

KeyCorp announced that its Board of Directors has approved a stock buyback program on Wednesday, May 13th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the financial services provider to buy up to 13% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In related news, insider Angela G. Mago sold 22,826 shares of the business’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $21.66, for a total transaction of $494,411.16. Following the sale, the insider owned 281,564 shares of the company’s stock, valued at approximately $6,098,676.24. The trade was a 7.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.56% of the company’s stock.

KeyCorp Company Profile

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.