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Dupont Capital Management Corp cut its holdings in KeyCorp (NYSE:KEY – Get Rating) by 66.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,186 shares of the financial services provider’s stock after selling 51,775 shares during the quarter. Dupont Capital Management Corp’s holdings in KeyCorp were worth $420,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Federated Hermes Inc. boosted its stake in KeyCorp by 65.9% during the second quarter. Federated Hermes Inc. now owns 13,608,794 shares of the financial services provider’s stock worth $234,479,000 after buying an additional 5,406,238 shares during the last quarter. Prudential Financial Inc. raised its holdings in shares of KeyCorp by 211.6% in the 1st quarter. Prudential Financial Inc. now owns 3,274,208 shares of the financial services provider’s stock valued at $73,277,000 after buying an additional 2,223,588 shares during the period. Prana Capital Management LP purchased a new stake in shares of KeyCorp in the 2nd quarter valued at $27,775,000. Vanguard Group Inc. increased its holdings in KeyCorp by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 111,201,600 shares of the financial services provider’s stock worth $2,488,691,000 after purchasing an additional 1,278,193 shares during the period. Finally, Envestnet Asset Management Inc. increased its holdings in KeyCorp by 57.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 2,885,355 shares of the financial services provider’s stock worth $49,715,000 after purchasing an additional 1,054,207 shares during the period. 82.11% of the stock is owned by institutional investors and hedge funds.
KeyCorp Price Performance
Shares of KeyCorp stock opened at $18.18 on Friday. KeyCorp has a twelve month low of $15.26 and a twelve month high of $27.17. The stock has a market capitalization of $16.96 billion, a P/E ratio of 8.34 and a beta of 1.29. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 1.69. The business’s fifty day moving average price is $17.98 and its 200 day moving average price is $17.76.
KeyCorp (NYSE:KEY – Get Rating) last announced its earnings results on Thursday, October 20th. The financial services provider reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.04). The business had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.88 billion. KeyCorp had a return on equity of 15.81% and a net margin of 26.66%. During the same period in the previous year, the firm posted $0.65 earnings per share. As a group, research analysts anticipate that KeyCorp will post 2.09 earnings per share for the current year.
KeyCorp Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 15th. Stockholders of record on Tuesday, February 28th will be given a dividend of $0.205 per share. The ex-dividend date is Monday, February 27th. This represents a $0.82 annualized dividend and a dividend yield of 4.51%. KeyCorp’s dividend payout ratio is presently 37.61%.
Wall Street Analysts Forecast Growth
A number of research analysts have recently commented on the company. Piper Sandler dropped their price objective on KeyCorp to $16.50 in a report on Thursday, September 29th. JPMorgan Chase & Co. cut KeyCorp from a “neutral” rating to an “underweight” rating and decreased their target price for the company from $18.50 to $17.00 in a research report on Tuesday, December 13th. Wedbush reissued a “neutral” rating and issued a $18.00 target price on shares of KeyCorp in a research report on Wednesday, September 28th. Royal Bank of Canada decreased their price objective on KeyCorp from $29.00 to $24.00 and set an “outperform” rating for the company in a research report on Friday, October 21st. Finally, Morgan Stanley assumed coverage on KeyCorp in a research report on Monday, December 5th. They set an “equal weight” rating and a $22.00 price objective for the company. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $20.06.
KeyCorp Company Profile
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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; and personal finance and financial wellness, student loan refinancing, mortgage and home equity, lending, credit card, treasury, business advisory, wealth management, asset management, investment, cash management, portfolio management, and trust and related services to individuals and small and medium-sized businesses.
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