Sumitomo Mitsui Trust Holdings Inc. trimmed its position in KeyCorp (NYSE:KEY) by 0.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,993,895 shares of the financial services provider’s stock after selling 1,501 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in KeyCorp were worth $62,904,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Legal & General Group Plc increased its stake in shares of KeyCorp by 1.9% in the third quarter. Legal & General Group Plc now owns 4,661,367 shares of the financial services provider’s stock worth $92,714,000 after purchasing an additional 86,298 shares in the last quarter. Vanguard Group Inc boosted its position in shares of KeyCorp by 1.4% during the third quarter. Vanguard Group Inc now owns 114,959,582 shares of the financial services provider’s stock worth $2,286,547,000 after acquiring an additional 1,604,187 shares during the last quarter. James Investment Research Inc. boosted its position in shares of KeyCorp by 904.8% during the fourth quarter. James Investment Research Inc. now owns 74,405 shares of the financial services provider’s stock worth $1,100,000 after acquiring an additional 67,000 shares during the last quarter. IFM Investors Pty Ltd boosted its position in shares of KeyCorp by 9.1% during the fourth quarter. IFM Investors Pty Ltd now owns 63,082 shares of the financial services provider’s stock worth $932,000 after acquiring an additional 5,244 shares during the last quarter. Finally, Manning & Napier Group LLC boosted its position in shares of KeyCorp by 4.4% during the fourth quarter. Manning & Napier Group LLC now owns 280,234 shares of the financial services provider’s stock worth $4,140,000 after acquiring an additional 11,839 shares during the last quarter. Institutional investors and hedge funds own 78.77% of the company’s stock.
A number of equities analysts recently weighed in on the stock. Zacks Investment Research lowered shares of KeyCorp from a “hold” rating to a “sell” rating in a research report on Monday, February 18th. CIBC restated an “average” rating on shares of KeyCorp in a research report on Monday, February 4th. ValuEngine upgraded shares of KeyCorp from a “strong sell” rating to a “sell” rating in a research report on Thursday, April 18th. Nomura upgraded shares of KeyCorp from a “reduce” rating to a “neutral” rating and set a $16.00 target price for the company in a research report on Friday, March 29th. Finally, JPMorgan Chase & Co. lowered shares of KeyCorp from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $18.00 to $17.00 in a research report on Thursday, April 4th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $23.36.
KeyCorp (NYSE:KEY) last released its quarterly earnings data on Thursday, April 18th. The financial services provider reported $0.40 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by ($0.02). KeyCorp had a net margin of 24.18% and a return on equity of 13.16%. The business had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter last year, the business earned $0.38 EPS. KeyCorp’s revenue for the quarter was down 2.1% compared to the same quarter last year. Research analysts anticipate that KeyCorp will post 1.8 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Tuesday, May 28th will be issued a $0.17 dividend. The ex-dividend date is Friday, May 24th. This represents a $0.68 annualized dividend and a dividend yield of 4.09%. KeyCorp’s dividend payout ratio (DPR) is presently 39.31%.
In other news, insider Angela G. Mago sold 4,162 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $17.33, for a total value of $72,127.46. Following the completion of the sale, the insider now owns 128,464 shares in the company, valued at approximately $2,226,281.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.08% of the stock is currently owned by company insiders.
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KeyCorp Company 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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