Pitcairn Co. Grows Holdings in KeyCorp (NYSE:KEY)

Pitcairn Co. boosted its holdings in KeyCorp (NYSE:KEY) by 10.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,906 shares of the financial services provider’s stock after purchasing an additional 1,208 shares during the quarter. Pitcairn Co.’s holdings in KeyCorp were worth $204,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of KEY. First United Bank & Trust acquired a new position in shares of KeyCorp during the 4th quarter worth $29,000. Quarry LP acquired a new position in shares of KeyCorp during the 4th quarter worth $38,000. Turtle Creek Wealth Advisors LLC acquired a new position in shares of KeyCorp during the 4th quarter worth $39,000. Criterion Capital Advisors LLC acquired a new position in shares of KeyCorp during the 4th quarter worth $39,000. Finally, Fidelis Capital Partners LLC acquired a new position in shares of KeyCorp during the 1st quarter worth $39,000. 79.69% of the stock is owned by institutional investors and hedge funds.

KeyCorp Stock Up 0.9 %

KEY opened at $16.27 on Friday. The firm has a 50 day moving average price of $14.44 and a 200 day moving average price of $14.56. The company has a market cap of $15.34 billion, a PE ratio of 20.41, a price-to-earnings-growth ratio of 0.85 and a beta of 1.26. KeyCorp has a 1 year low of $9.50 and a 1 year high of $16.47. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.85 and a current ratio of 0.85.

KeyCorp (NYSE:KEY) last posted its earnings results on Thursday, July 18th. The financial services provider reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. The business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.52 billion. KeyCorp had a net margin of 7.35% and a return on equity of 8.64%. The business’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.27 earnings per share. Sell-side analysts expect that KeyCorp will post 1.12 earnings per share for the current year.

KeyCorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Tuesday, August 27th will be paid a $0.205 dividend. The ex-dividend date of this dividend is Tuesday, August 27th. This represents a $0.82 dividend on an annualized basis and a yield of 5.04%. KeyCorp’s dividend payout ratio (DPR) is 103.80%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on KEY. Argus boosted their price objective on shares of KeyCorp from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. Royal Bank of Canada boosted their price objective on shares of KeyCorp from $16.00 to $17.00 and gave the stock an “outperform” rating in a research report on Friday, July 19th. Jefferies Financial Group boosted their price objective on shares of KeyCorp from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. JPMorgan Chase & Co. decreased their price objective on shares of KeyCorp from $17.50 to $16.50 and set a “neutral” rating on the stock in a research report on Thursday, June 27th. Finally, DA Davidson boosted their price objective on shares of KeyCorp from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, KeyCorp presently has a consensus rating of “Moderate Buy” and an average price target of $16.13.

About KeyCorp

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.