Equity Investment Corp Raises Holdings in KeyCorp (NYSE:KEY)

Equity Investment Corp lifted its stake in KeyCorp (NYSE:KEY) by 7.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,756 shares of the financial services provider’s stock after buying an additional 1,336 shares during the quarter. Equity Investment Corp’s holdings in KeyCorp were worth $270,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Cornerstone Wealth Management LLC boosted its stake in shares of KeyCorp by 6.3% in the fourth quarter. Cornerstone Wealth Management LLC now owns 12,337 shares of the financial services provider’s stock worth $178,000 after buying an additional 732 shares during the last quarter. UMB Bank n.a. boosted its position in KeyCorp by 2.5% during the fourth quarter. UMB Bank n.a. now owns 34,090 shares of the financial services provider’s stock worth $491,000 after purchasing an additional 841 shares in the last quarter. PL Capital Advisors LLC boosted its position in KeyCorp by 1.7% during the third quarter. PL Capital Advisors LLC now owns 54,900 shares of the financial services provider’s stock worth $591,000 after purchasing an additional 900 shares in the last quarter. AHL Investment Management Inc. boosted its position in KeyCorp by 1.8% during the fourth quarter. AHL Investment Management Inc. now owns 51,288 shares of the financial services provider’s stock worth $739,000 after purchasing an additional 900 shares in the last quarter. Finally, Global Retirement Partners LLC boosted its position in KeyCorp by 15.8% during the fourth quarter. Global Retirement Partners LLC now owns 6,592 shares of the financial services provider’s stock worth $92,000 after purchasing an additional 901 shares in the last quarter. Hedge funds and other institutional investors own 79.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Argus increased their price target on KeyCorp from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. Evercore ISI raised their target price on KeyCorp from $17.00 to $18.00 and gave the company an “outperform” rating in a research report on Thursday, March 28th. Morgan Stanley raised their target price on KeyCorp from $12.00 to $16.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 7th. Keefe, Bruyette & Woods raised their target price on KeyCorp from $16.00 to $18.00 and gave the company an “outperform” rating in a research report on Friday, April 5th. Finally, Wells Fargo & Company raised their target price on KeyCorp from $16.00 to $18.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, KeyCorp presently has a consensus rating of “Moderate Buy” and an average target price of $15.71.

KeyCorp Trading Up 0.5 %

KEY stock traded up $0.07 during midday trading on Friday, hitting $15.40. 6,225,581 shares of the company’s stock were exchanged, compared to its average volume of 12,906,451. The business has a 50-day simple moving average of $14.95 and a two-hundred day simple moving average of $14.03. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.72. The stock has a market capitalization of $14.52 billion, a PE ratio of 19.49 and a beta of 1.28. KeyCorp has a 1-year low of $9.10 and a 1-year high of $15.86.

KeyCorp (NYSE:KEY) last posted its earnings results on Thursday, April 18th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.01). The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.51 billion. KeyCorp had a return on equity of 8.89% and a net margin of 7.53%. KeyCorp’s revenue was down 10.6% compared to the same quarter last year. During the same period last year, the business earned $0.44 EPS. On average, sell-side analysts predict that KeyCorp will post 1.14 EPS for the current fiscal year.

KeyCorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Tuesday, May 28th will be given a dividend of $0.205 per share. The ex-dividend date is Friday, May 24th. This represents a $0.82 annualized dividend and a dividend yield of 5.32%. KeyCorp’s dividend payout ratio is currently 103.80%.

KeyCorp Company Profile

KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking products and services in the United States. It operates in two segments, Consumer Bank and Commercial Bank. The company offers various deposits, investment products and services; commercial leasing, investment management, consumer finance; and personal finance and financial wellness, student loan refinancing, mortgage and home equity, lending, credit card, treasury, business advisory, wealth management, asset management, cash management, portfolio management, and trust and related services to individuals and small and medium-sized businesses.