Chevy Chase Trust Holdings Inc. raised its position in KeyCorp (NYSE:KEY) by 25.5% during the third quarter, according to its most recent disclosure with the SEC. The firm owned 903,413 shares of the financial services provider’s stock after buying an additional 183,811 shares during the period. Chevy Chase Trust Holdings Inc.’s holdings in KeyCorp were worth $10,995,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Longer Investments Inc. acquired a new position in KeyCorp during the second quarter worth $1,217,000. First Quadrant L P CA boosted its position in KeyCorp by 17,934.5% in the second quarter. First Quadrant L P CA now owns 1,046,000 shares of the financial services provider’s stock worth $11,558,000 after buying an additional 1,040,200 shares during the last quarter. Regentatlantic Capital LLC acquired a new position in KeyCorp during the second quarter worth $134,000. Fox Run Management L.L.C. boosted its position in KeyCorp by 14.5% in the second quarter. Fox Run Management L.L.C. now owns 28,500 shares of the financial services provider’s stock worth $315,000 after buying an additional 3,600 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in KeyCorp by 5.2% in the second quarter. Nisa Investment Advisors LLC now owns 209,300 shares of the financial services provider’s stock worth $2,313,000 after buying an additional 10,355 shares during the last quarter. 71.65% of the stock is owned by institutional investors.
KeyCorp (NYSE:KEY) traded down 0.60% during mid-day trading on Friday, reaching $17.33. The company’s stock had a trading volume of 6,134,531 shares. The stock’s 50 day moving average price is $14.56 and its 200 day moving average price is $12.65. KeyCorp has a 1-year low of $9.88 and a 1-year high of $17.57. The stock has a market capitalization of $18.73 billion, a P/E ratio of 19.97 and a beta of 1.00.
KeyCorp (NYSE:KEY) last released its quarterly earnings data on Tuesday, October 25th. The financial services provider reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.04. The business earned $1.34 billion during the quarter, compared to the consensus estimate of $1.28 billion. KeyCorp had a return on equity of 8.44% and a net margin of 15.72%. The business’s revenue for the quarter was up 25.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.27 EPS. Analysts expect that KeyCorp will post $1.10 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Tuesday, November 29th will be issued a dividend of $0.085 per share. The ex-dividend date is Friday, November 25th. This represents a $0.34 dividend on an annualized basis and a dividend yield of 1.96%. KeyCorp’s payout ratio is 39.08%.
A number of brokerages have commented on KEY. Zacks Investment Research cut KeyCorp from a “buy” rating to a “hold” rating in a report on Friday. Sanford C. Bernstein cut KeyCorp from an “outperform” rating to a “market perform” rating and increased their target price for the company from $17.00 to $19.00 in a report on Wednesday, November 16th. They noted that the move was a valuation call. Standpoint Research cut KeyCorp from a “buy” rating to a “hold” rating in a report on Monday, November 21st. Citigroup Inc. cut KeyCorp from a “buy” rating to a “neutral” rating in a report on Tuesday, November 8th. Finally, Susquehanna cut KeyCorp from a “positive” rating to a “neutral” rating and increased their price target for the company from $14.00 to $15.00 in a report on Wednesday, November 9th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $14.84.
KeyCorp is a bank holding company. The Bank operates through its subsidiary, KeyBank National Association (KeyBank), which is engaged in providing banking services. Through KeyBank and other subsidiaries, the Company provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, commercial mortgage servicing and special servicing, and investment banking products and services to individual, corporate and institutional clients.