KeyCorp (NYSE:KEY) Position Trimmed by Janney Montgomery Scott LLC

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Janney Montgomery Scott LLC decreased its holdings in shares of KeyCorp (NYSE:KEY) by 19.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 144,837 shares of the financial services provider’s stock after selling 33,984 shares during the period. Janney Montgomery Scott LLC’s holdings in KeyCorp were worth $1,764,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in KEY. Advisors Asset Management Inc. increased its stake in KeyCorp by 14.4% during the fourth quarter. Advisors Asset Management Inc. now owns 13,019 shares of the financial services provider’s stock valued at $264,000 after purchasing an additional 1,635 shares during the last quarter. Man Group plc increased its stake in KeyCorp by 83.9% during the fourth quarter. Man Group plc now owns 223,512 shares of the financial services provider’s stock valued at $4,524,000 after purchasing an additional 102,004 shares during the last quarter. Verus Capital Partners LLC bought a new stake in KeyCorp during the fourth quarter valued at $34,000. Macquarie Group Ltd. grew its position in shares of KeyCorp by 118.9% during the fourth quarter. Macquarie Group Ltd. now owns 2,307,184 shares of the financial services provider’s stock worth $46,697,000 after acquiring an additional 1,253,002 shares during the last quarter. Finally, Quadrant Capital Group LLC grew its position in shares of KeyCorp by 33.3% during the fourth quarter. Quadrant Capital Group LLC now owns 7,531 shares of the financial services provider’s stock worth $139,000 after acquiring an additional 1,882 shares during the last quarter. Hedge funds and other institutional investors own 79.38% of the company’s stock.

Shares of NYSE KEY opened at $12.01 on Friday. KeyCorp has a twelve month low of $7.45 and a twelve month high of $20.52. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.88. The company has a market capitalization of $11.71 billion, a price-to-earnings ratio of 10.63, a PEG ratio of 2.26 and a beta of 1.53. The firm has a 50-day moving average of $12.26 and a two-hundred day moving average of $13.61.

KeyCorp (NYSE:KEY) last issued its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $0.16 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.07. KeyCorp had a net margin of 15.85% and a return on equity of 8.52%. The company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.59 billion. During the same period in the prior year, the company earned $0.44 EPS. KeyCorp’s revenue was up 6.6% on a year-over-year basis. As a group, research analysts predict that KeyCorp will post 0.95 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be issued a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a yield of 6.16%. The ex-dividend date of this dividend is Monday, August 31st. KeyCorp’s payout ratio is 41.11%.

In other KeyCorp news, insider Angela G. Mago sold 3,646 shares of the company’s stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $12.46, for a total transaction of $45,429.16. Following the completion of the sale, the insider now directly owns 171,829 shares of the company’s stock, valued at $2,140,989.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.70% of the stock is currently owned by corporate insiders.

Several equities analysts have recently commented on KEY shares. Stephens lowered shares of KeyCorp from an “overweight” rating to an “equal weight” rating and set a $13.00 price target for the company. in a research report on Wednesday, June 3rd. Nomura Securities restated a “hold” rating and set a $10.00 price target on shares of KeyCorp in a research report on Sunday, April 19th. Argus lowered their price target on shares of KeyCorp from $22.00 to $15.00 and set a “buy” rating for the company in a research report on Monday, April 20th. Wolfe Research started coverage on shares of KeyCorp in a research report on Friday. They set an “underperform” rating for the company. Finally, ValuEngine upgraded shares of KeyCorp from a “sell” rating to a “hold” rating in a research report on Thursday, July 2nd. Five equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $18.68.

KeyCorp Profile

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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Institutional Ownership by Quarter for KeyCorp (NYSE:KEY)

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