MARSHALL WACE ASIA Ltd lowered its stake in KeyCorp (NYSE:KEY) by 46.2% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,901,523 shares of the financial services provider’s stock after selling 1,635,352 shares during the period. MARSHALL WACE ASIA Ltd’s holdings in KeyCorp were worth $29,950,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc lifted its stake in KeyCorp by 1.4% during the third quarter. Vanguard Group Inc now owns 114,959,582 shares of the financial services provider’s stock worth $2,286,547,000 after purchasing an additional 1,604,187 shares during the last quarter. Keybank National Association OH bought a new stake in KeyCorp during the fourth quarter worth about $188,000. Pinnacle Associates Ltd. lifted its stake in KeyCorp by 12.4% during the fourth quarter. Pinnacle Associates Ltd. now owns 132,537 shares of the financial services provider’s stock worth $1,959,000 after purchasing an additional 14,602 shares during the last quarter. Comerica Securities Inc. lifted its stake in KeyCorp by 3.6% during the fourth quarter. Comerica Securities Inc. now owns 55,717 shares of the financial services provider’s stock worth $823,000 after purchasing an additional 1,948 shares during the last quarter. Finally, Daiwa Securities Group Inc. lifted its stake in KeyCorp by 4.0% during the fourth quarter. Daiwa Securities Group Inc. now owns 39,084 shares of the financial services provider’s stock worth $578,000 after purchasing an additional 1,500 shares during the last quarter. Institutional investors own 80.51% of the company’s stock.
In related news, insider Amy G. Brady sold 13,238 shares of the business’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $17.00, for a total transaction of $225,046.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.08% of the stock is owned by insiders.
KeyCorp (NYSE:KEY) last announced its quarterly earnings results on Thursday, April 18th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.02). KeyCorp had a net margin of 24.18% and a return on equity of 13.16%. The business had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.60 billion. During the same quarter in the prior year, the firm earned $0.38 EPS. The firm’s revenue for the quarter was down 2.1% on a year-over-year basis. Analysts expect that KeyCorp will post 1.8 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Tuesday, May 28th will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, May 24th. This represents a $0.68 dividend on an annualized basis and a yield of 4.01%. KeyCorp’s dividend payout ratio is presently 39.31%.
KEY has been the subject of several research analyst reports. Zacks Investment Research lowered KeyCorp from a “hold” rating to a “sell” rating in a research note on Monday, February 18th. Scotiabank reissued a “buy” rating and issued a $36.00 target price on shares of KeyCorp in a research note on Friday, February 22nd. ValuEngine lowered KeyCorp from a “sell” rating to a “strong sell” rating in a research note on Friday, March 22nd. Nomura raised KeyCorp from a “reduce” rating to a “neutral” rating and set a $16.00 target price for the company in a research note on Friday, March 29th. Finally, JPMorgan Chase & Co. lowered KeyCorp from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $18.00 to $17.00 in a research note on Thursday, April 4th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $23.36.
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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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