GWM Advisors LLC trimmed its position in KeyCorp (NYSE:KEY) by 1.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 88,682 shares of the financial services provider’s stock after selling 1,441 shares during the quarter. GWM Advisors LLC’s holdings in KeyCorp were worth $1,080,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Schroder Investment Management Group increased its position in KeyCorp by 2,485.7% in the first quarter. Schroder Investment Management Group now owns 1,342,843 shares of the financial services provider’s stock worth $13,361,000 after purchasing an additional 1,290,910 shares during the period. MHI Funds LLC bought a new position in KeyCorp during the first quarter worth about $797,000. AXA boosted its holdings in KeyCorp by 358.2% during the first quarter. AXA now owns 58,782 shares of the financial services provider’s stock worth $609,000 after buying an additional 45,952 shares during the last quarter. Squarepoint Ops LLC boosted its holdings in KeyCorp by 46.2% during the first quarter. Squarepoint Ops LLC now owns 43,515 shares of the financial services provider’s stock worth $451,000 after buying an additional 13,760 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its holdings in KeyCorp by 1.1% during the first quarter. Alliancebernstein L.P. now owns 1,855,923 shares of the financial services provider’s stock worth $19,246,000 after buying an additional 19,476 shares during the last quarter. Hedge funds and other institutional investors own 79.38% of the company’s stock.
KEY has been the topic of a number of recent analyst reports. UBS Group cut KeyCorp from a “buy” rating to a “neutral” rating in a report on Monday, May 4th. Odeon Capital Group cut KeyCorp from a “buy” rating to a “hold” rating in a report on Wednesday, July 22nd. Stifel Nicolaus reduced their target price on KeyCorp from $29.00 to $27.00 and set a “buy” rating on the stock in a report on Thursday, May 14th. Wolfe Research started coverage on KeyCorp in a report on Friday. They set an “underperform” rating on the stock. Finally, Wedbush reiterated an “outperform” rating on shares of KeyCorp in a report on Tuesday, April 7th. Five analysts have rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $18.68.
NYSE KEY opened at $12.01 on Friday. The stock has a market capitalization of $11.71 billion, a price-to-earnings ratio of 10.63, a PEG ratio of 2.22 and a beta of 1.53. The stock’s 50 day moving average price is $12.26 and its two-hundred day moving average price is $13.61. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.91 and a current ratio of 0.92. KeyCorp has a 52 week low of $7.45 and a 52 week high of $20.52.
KeyCorp (NYSE:KEY) last released its earnings results on Wednesday, July 22nd. The financial services provider reported $0.16 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.07. The firm had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.59 billion. KeyCorp had a return on equity of 8.52% and a net margin of 15.85%. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.44 EPS. On average, equities research analysts forecast that KeyCorp will post 0.95 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be given a dividend of $0.185 per share. This represents a $0.74 annualized dividend and a dividend yield of 6.16%. The ex-dividend date of this dividend is Monday, August 31st. KeyCorp’s dividend payout ratio (DPR) is 41.11%.
KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking services in the United States. The company's Key Community Bank segment offers various deposit and investment products, personal finance services, residential mortgages, home equity loans, credit cards, and installment loans.
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