Nationwide Fund Advisors Trims Holdings in KeyCorp (KEY)

Nationwide Fund Advisors lowered its position in KeyCorp (NYSE:KEY) by 0.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,981,964 shares of the financial services provider’s stock after selling 17,681 shares during the quarter. Nationwide Fund Advisors owned 0.18% of KeyCorp worth $37,301,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in KEY. Eqis Capital Management Inc. bought a new stake in shares of KeyCorp in the 2nd quarter worth approximately $217,000. Quantitative Systematic Strategies LLC lifted its position in shares of KeyCorp by 74.4% in the 2nd quarter. Quantitative Systematic Strategies LLC now owns 40,466 shares of the financial services provider’s stock worth $757,000 after acquiring an additional 17,262 shares during the period. Tributary Capital Management LLC lifted its position in shares of KeyCorp by 353.8% in the 2nd quarter. Tributary Capital Management LLC now owns 124,800 shares of the financial services provider’s stock worth $2,339,000 after acquiring an additional 97,300 shares during the period. Russell Investments Group Ltd. lifted its position in shares of KeyCorp by 9.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 6,122,705 shares of the financial services provider’s stock worth $114,742,000 after acquiring an additional 553,251 shares during the period. Finally, Carroll Financial Associates Inc. lifted its position in shares of KeyCorp by 495.1% in the 2nd quarter. Carroll Financial Associates Inc. now owns 24,207 shares of the financial services provider’s stock worth $453,000 after acquiring an additional 20,139 shares during the period. Institutional investors own 82.42% of the company’s stock.

KeyCorp (NYSE KEY) traded up $0.06 during mid-day trading on Friday, reaching $18.22. The company had a trading volume of 688,899 shares, compared to its average volume of 10,899,456. KeyCorp has a 12-month low of $16.28 and a 12-month high of $19.53. The firm has a market cap of $19,529.26, a PE ratio of 13.76, a price-to-earnings-growth ratio of 1.65 and a beta of 1.10. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.90 and a quick ratio of 0.89.

KeyCorp (NYSE:KEY) last released its quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.35 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.35. KeyCorp had a return on equity of 10.35% and a net margin of 18.69%. The firm had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.56 billion. During the same period last year, the firm posted $0.30 EPS. The business’s revenue was up 13.7% on a year-over-year basis. equities research analysts forecast that KeyCorp will post 1.37 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Tuesday, November 28th will be issued a dividend of $0.105 per share. This represents a $0.42 dividend on an annualized basis and a yield of 2.31%. This is a boost from KeyCorp’s previous quarterly dividend of $0.10. The ex-dividend date is Monday, November 27th. KeyCorp’s dividend payout ratio (DPR) is currently 33.33%.

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A number of equities analysts have recently issued reports on the company. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $21.00 target price on shares of KeyCorp in a report on Thursday, October 19th. Citigroup Inc. increased their target price on KeyCorp from $19.00 to $20.00 and gave the stock a “neutral” rating in a report on Monday, October 9th. Robert W. Baird reissued a “hold” rating and issued a $18.00 target price on shares of KeyCorp in a report on Friday, October 6th. Wells Fargo & Company assumed coverage on KeyCorp in a report on Wednesday, August 9th. They issued a “market perform” rating and a $19.00 target price for the company. Finally, BidaskClub cut KeyCorp from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Four research analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have assigned a buy rating to the company’s stock. KeyCorp has an average rating of “Hold” and an average price target of $20.82.

In related news, General Counsel Paul N. Harris sold 2,758 shares of the firm’s stock in a transaction on Wednesday, October 25th. The stock was sold at an average price of $18.54, for a total transaction of $51,133.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Andrew J. Paine III sold 46,854 shares of KeyCorp stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $18.56, for a total value of $869,610.24. Following the completion of the sale, the insider now directly owns 110,052 shares of the company’s stock, valued at $2,042,565.12. The disclosure for this sale can be found here. Insiders have sold a total of 57,212 shares of company stock valued at $1,060,508 over the last ninety days. Insiders own 0.65% of the company’s stock.

KeyCorp Company Profile

KeyCorp is a bank holding company. The Company is a bank-based financial services company. The Company operates through its subsidiary, KeyBank National Association (KeyBank), which is engaged in providing banking services. Through KeyBank and other subsidiaries, it provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, and investment banking products and services to individual, corporate and institutional clients.

Institutional Ownership by Quarter for KeyCorp (NYSE:KEY)

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