O Shaughnessy Asset Management LLC Purchases 168,411 Shares of KeyCorp (NYSE:KEY)

O Shaughnessy Asset Management LLC raised its position in shares of KeyCorp (NYSE:KEY) by 368.2% in the first quarter, Holdings Channel reports. The fund owned 214,145 shares of the financial services provider’s stock after buying an additional 168,411 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in KeyCorp were worth $3,386,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently made changes to their positions in KEY. First United Bank & Trust bought a new position in KeyCorp in the 4th quarter worth approximately $29,000. Quarry LP bought a new position in KeyCorp during the fourth quarter worth $38,000. Turtle Creek Wealth Advisors LLC acquired a new position in KeyCorp during the 4th quarter valued at $39,000. Criterion Capital Advisors LLC bought a new stake in KeyCorp in the 4th quarter valued at $39,000. Finally, Fidelis Capital Partners LLC bought a new stake in KeyCorp in the 1st quarter valued at $39,000. 79.69% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

KEY has been the subject of a number of research analyst reports. UBS Group lowered shares of KeyCorp from a “buy” rating to a “neutral” rating and cut their price objective for the company from $16.00 to $15.00 in a research report on Monday, July 8th. Wedbush raised their price objective on KeyCorp from $15.00 to $16.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. Wells Fargo & Company boosted their price objective on KeyCorp from $16.00 to $18.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Royal Bank of Canada raised their target price on KeyCorp from $16.00 to $17.00 and gave the stock an “outperform” rating in a research report on Friday, July 19th. Finally, DA Davidson boosted their price target on shares of KeyCorp from $16.00 to $18.00 and gave the company a “buy” rating in a report on Friday, July 19th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, KeyCorp has a consensus rating of “Moderate Buy” and an average target price of $16.06.

KeyCorp Price Performance

KEY stock traded down $0.07 during trading on Wednesday, hitting $15.79. 13,538,654 shares of the stock traded hands, compared to its average volume of 14,909,701. The stock has a market cap of $14.89 billion, a price-to-earnings ratio of 20.37, a P/E/G ratio of 0.85 and a beta of 1.26. KeyCorp has a one year low of $9.50 and a one year high of $16.47. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.37. The company has a 50 day simple moving average of $14.42 and a 200 day simple moving average of $14.54.

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, topping the consensus estimate of $0.24 by $0.01. The company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.52 billion. KeyCorp had a net margin of 7.35% and a return on equity of 8.64%. The company’s revenue was down 4.3% on a year-over-year basis. During the same quarter last year, the business posted $0.27 earnings per share. Equities analysts expect that KeyCorp will post 1.12 EPS for the current fiscal year.

KeyCorp Dividend Announcement

The firm 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 $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 5.19%. The ex-dividend date of this dividend is Tuesday, August 27th. KeyCorp’s dividend payout ratio is currently 103.80%.

KeyCorp Company 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.