AustralianSuper Pty Ltd Grows Holdings in KeyCorp (NYSE:KEY)

AustralianSuper Pty Ltd raised its position in KeyCorp (NYSE:KEY) by 7.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 499,350 shares of the financial services provider’s stock after buying an additional 35,472 shares during the period. AustralianSuper Pty Ltd owned approximately 0.05% of KeyCorp worth $7,096,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. grew its holdings in KeyCorp by 1.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 23,416,018 shares of the financial services provider’s stock worth $337,191,000 after acquiring an additional 289,258 shares in the last quarter. Ontario Teachers Pension Plan Board lifted its holdings in KeyCorp by 8.8% during the 1st quarter. Ontario Teachers Pension Plan Board now owns 21,690,319 shares of the financial services provider’s stock worth $342,924,000 after buying an additional 1,748,633 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of KeyCorp by 9.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 10,284,913 shares of the financial services provider’s stock worth $148,116,000 after acquiring an additional 902,032 shares in the last quarter. Earnest Partners LLC increased its holdings in shares of KeyCorp by 12.7% in the 1st quarter. Earnest Partners LLC now owns 10,090,594 shares of the financial services provider’s stock valued at $159,532,000 after acquiring an additional 1,137,374 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of KeyCorp during the 4th quarter valued at approximately $128,203,000. 79.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at KeyCorp

In other KeyCorp news, Director Carlton L. Highsmith sold 10,000 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $16.21, for a total transaction of $162,100.00. Following the transaction, the director now directly owns 46,864 shares in the company, valued at $759,665.44. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.61% of the stock is owned by company insiders.

KeyCorp Trading Down 0.4 %

Shares of NYSE:KEY traded down $0.07 during midday trading on Tuesday, reaching $16.67. The company had a trading volume of 10,907,439 shares, compared to its average volume of 15,100,467. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.85 and a current ratio of 0.85. KeyCorp has a 1-year low of $9.50 and a 1-year high of $17.20. The firm has a market cap of $15.72 billion, a price-to-earnings ratio of 21.10, a price-to-earnings-growth ratio of 0.91 and a beta of 1.26. The company has a fifty day simple moving average of $15.20 and a two-hundred day simple moving average of $14.81.

KeyCorp (NYSE:KEY) last announced its quarterly earnings data on Thursday, July 18th. The financial services provider reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. KeyCorp had a return on equity of 8.64% and a net margin of 7.35%. The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same period last year, the company posted $0.27 EPS. The business’s quarterly revenue was down 4.3% compared to the same quarter last year. Research analysts predict that KeyCorp will post 1.09 earnings per share for the current year.

KeyCorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Tuesday, August 27th will be given a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 4.92%. The ex-dividend date of this dividend is Tuesday, August 27th. KeyCorp’s dividend payout ratio is 103.80%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. DA Davidson raised their price target on shares of KeyCorp from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. Wedbush boosted their price objective on KeyCorp from $16.00 to $17.00 and gave the company a “neutral” rating in a research report on Tuesday, August 13th. Royal Bank of Canada reissued an “outperform” rating and set a $17.00 price target on shares of KeyCorp in a report on Tuesday, August 13th. Citigroup lifted their price objective on shares of KeyCorp from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. Finally, Morgan Stanley raised their price target on shares of KeyCorp from $18.00 to $20.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $16.65.

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.