Rockefeller Capital Management L.P. Boosts Holdings in KeyCorp (NYSE:KEY)

Rockefeller Capital Management L.P. grew its holdings in KeyCorp (NYSE:KEY) by 0.5% in the 2nd quarter, HoldingsChannel reports. The firm owned 124,624 shares of the financial services provider’s stock after purchasing an additional 673 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in KeyCorp were worth $2,573,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of KEY. Boston Partners boosted its stake in shares of KeyCorp by 8.7% in the first quarter. Boston Partners now owns 31,171,400 shares of the financial services provider’s stock valued at $622,880,000 after purchasing an additional 2,489,505 shares during the period. Capital International Investors boosted its stake in shares of KeyCorp by 2.2% in the first quarter. Capital International Investors now owns 69,994,897 shares of the financial services provider’s stock valued at $1,398,498,000 after purchasing an additional 1,499,672 shares during the period. LSV Asset Management boosted its stake in shares of KeyCorp by 14.9% in the second quarter. LSV Asset Management now owns 11,400,262 shares of the financial services provider’s stock valued at $235,415,000 after purchasing an additional 1,476,461 shares during the period. Stieven Capital Advisors L.P. purchased a new position in shares of KeyCorp in the second quarter valued at approximately $29,319,000. Finally, Royal Bank of Canada lifted its stake in KeyCorp by 6.7% in the first quarter. Royal Bank of Canada now owns 21,212,636 shares of the financial services provider’s stock worth $423,830,000 after acquiring an additional 1,335,116 shares during the last quarter. 80.49% of the stock is owned by institutional investors and hedge funds.

Shares of KeyCorp stock opened at $20.76 on Friday. The firm’s fifty day simple moving average is $20.06 and its 200-day simple moving average is $20.86. The stock has a market capitalization of $19.85 billion, a price-to-earnings ratio of 8.95, a PEG ratio of 0.38 and a beta of 1.54. KeyCorp has a 12 month low of $11.33 and a 12 month high of $23.65. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.87 and a quick ratio of 0.86.

KeyCorp (NYSE:KEY) last announced its earnings results on Monday, July 19th. The financial services provider reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.19. The business had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.73 billion. KeyCorp had a net margin of 30.87% and a return on equity of 14.21%. The company’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.17 EPS. Analysts anticipate that KeyCorp will post 2.43 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 15th. Stockholders of record on Tuesday, August 31st were issued a $0.185 dividend. The ex-dividend date of this dividend was Monday, August 30th. This represents a $0.74 dividend on an annualized basis and a dividend yield of 3.56%. KeyCorp’s payout ratio is 58.73%.

A number of brokerages recently issued reports on KEY. Odeon Capital Group downgraded shares of KeyCorp from a “buy” rating to a “hold” rating and set a $17.73 price target for the company. in a research note on Monday, July 19th. Wells Fargo & Company lifted their price target on shares of KeyCorp from $32.00 to $34.00 and gave the stock an “overweight” rating in a research note on Thursday, June 24th. Royal Bank of Canada lifted their price target on shares of KeyCorp from $33.00 to $36.00 and gave the stock an “outperform” rating in a research note on Friday, August 6th. Morgan Stanley decreased their price target on shares of KeyCorp from $26.00 to $25.00 and set an “equal weight” rating for the company in a research note on Monday, August 2nd. Finally, Citigroup started coverage on shares of KeyCorp in a report on Friday, July 16th. They set a “hold” rating and a $20.16 price objective on the stock. Eight research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, KeyCorp presently has a consensus rating of “Buy” and an average target price of $25.65.

In other KeyCorp news, insider Jamie Warder sold 3,112 shares of the business’s stock in a transaction on Friday, September 10th. The shares were sold at an average price of $19.97, for a total value of $62,146.64. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.56% of the company’s stock.

KeyCorp Company Profile

KeyCorp operates as bank holding company, which engages in the provision of financial services. it provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, student loan refinancing, commercial mortgage servicing and special servicing, and investment banking products and services to individual, corporate, and institutional clients.

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Institutional Ownership by Quarter for KeyCorp (NYSE:KEY)

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