KeyCorp (NYSE:KEY) Shares Sold by Shell Asset Management Co.

Shell Asset Management Co. cut its position in shares of KeyCorp (NYSE:KEY) by 38.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 31,120 shares of the financial services provider’s stock after selling 19,512 shares during the period. Shell Asset Management Co.’s holdings in KeyCorp were worth $492,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC increased its position in shares of KeyCorp by 8.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 273,010 shares of the financial services provider’s stock valued at $3,931,000 after acquiring an additional 21,395 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in KeyCorp by 35.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 329,655 shares of the financial services provider’s stock valued at $4,747,000 after buying an additional 86,579 shares during the period. Charles Schwab Investment Management Inc. increased its stake in KeyCorp by 1.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 23,416,018 shares of the financial services provider’s stock valued at $337,191,000 after buying an additional 289,258 shares during the period. Aigen Investment Management LP purchased a new stake in shares of KeyCorp during the 4th quarter worth $1,556,000. Finally, Miller Howard Investments Inc. NY acquired a new position in KeyCorp during the fourth quarter worth about $7,200,000. 79.69% of the stock is owned by hedge funds and other institutional investors.

KeyCorp Price Performance

Shares of NYSE:KEY traded up $0.02 during trading hours on Friday, hitting $16.15. 3,094,640 shares of the company’s stock traded hands, compared to its average volume of 14,811,043. KeyCorp has a 52 week low of $9.50 and a 52 week 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. The company’s fifty day simple moving average is $14.44 and its two-hundred day simple moving average is $14.56. The company has a market cap of $15.23 billion, a price-to-earnings ratio of 20.41, a price-to-earnings-growth ratio of 0.85 and a beta of 1.26.

KeyCorp (NYSE:KEY) last posted its quarterly earnings data on Thursday, July 18th. The financial services provider reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.01. KeyCorp had a net margin of 7.35% and a return on equity of 8.64%. The company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same quarter last year, the firm posted $0.27 EPS. The business’s revenue for the quarter was down 4.3% on a year-over-year basis. As a group, equities analysts anticipate that KeyCorp will post 1.12 EPS for the current fiscal year.

KeyCorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Tuesday, August 27th will be paid a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 5.08%. The ex-dividend date is Tuesday, August 27th. KeyCorp’s dividend payout ratio is presently 103.80%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on KEY shares. 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 note on Monday, April 8th. 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 note on Friday, July 19th. 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 note on Friday, July 19th. UBS Group downgraded shares of KeyCorp from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $16.00 to $15.00 in a research note on Monday, July 8th. Finally, Wedbush boosted their price objective on shares of KeyCorp from $15.00 to $16.00 and gave the stock a “neutral” rating in a research note on Friday, July 19th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $16.13.

KeyCorp Profile

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.