Quantbot Technologies LP Has $4.36 Million Stock Position in KeyCorp (NYSE:KEY)

Quantbot Technologies LP lifted its holdings in shares of KeyCorp (NYSE:KEY) by 67.6% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 306,556 shares of the financial services provider’s stock after buying an additional 123,659 shares during the period. Quantbot Technologies LP’s holdings in KeyCorp were worth $4,356,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of KEY. Ontario Teachers Pension Plan Board increased its holdings in KeyCorp by 8.8% in 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 purchasing an additional 1,748,633 shares in the last quarter. Diamond Hill Capital Management Inc. increased its holdings in KeyCorp by 12.2% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 20,295,788 shares of the financial services provider’s stock worth $288,403,000 after purchasing an additional 2,213,872 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in KeyCorp by 2.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 10,508,853 shares of the financial services provider’s stock worth $149,299,000 after purchasing an additional 300,339 shares in the last quarter. Earnest Partners LLC increased its holdings in KeyCorp by 12.7% in the 1st quarter. Earnest Partners LLC now owns 10,090,594 shares of the financial services provider’s stock worth $159,532,000 after purchasing an additional 1,137,374 shares in the last quarter. Finally, Norges Bank acquired a new position in KeyCorp in the 4th quarter worth about $128,203,000. Institutional investors and hedge funds own 79.69% of the company’s stock.

KeyCorp Stock Up 1.1 %

Shares of NYSE:KEY opened at $16.27 on Tuesday. The business’s 50 day simple moving average is $15.88 and its two-hundred day simple moving average is $15.04. The firm has a market cap of $15.35 billion, a P/E ratio of 20.60, a PEG ratio of 0.89 and a beta of 1.25. 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 52-week low of $9.50 and a 52-week high of $17.20.

KeyCorp (NYSE:KEY) last posted its earnings results on Thursday, July 18th. The financial services provider reported $0.25 earnings per share for the quarter, beating 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 company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same quarter last year, the company earned $0.27 earnings per share. The company’s revenue for the quarter was down 4.3% on a year-over-year basis. As a group, research analysts forecast that KeyCorp will post 1.09 EPS for the current fiscal year.

KeyCorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Tuesday, August 27th were issued a $0.205 dividend. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 5.04%. KeyCorp’s dividend payout ratio is presently 103.80%.

Analyst Ratings Changes

KEY has been the subject of a number of recent research reports. JPMorgan Chase & Co. lowered their target price on KeyCorp from $17.50 to $16.50 and set a “neutral” rating for the company in a report on Thursday, June 27th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $18.00 price target on shares of KeyCorp in a research note on Tuesday, September 10th. Morgan Stanley increased their price target on KeyCorp from $18.00 to $20.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 14th. Wedbush increased their price target on KeyCorp from $16.00 to $17.00 and gave the company a “neutral” rating in a research note on Tuesday, August 13th. Finally, Evercore ISI decreased their price target on KeyCorp from $17.50 to $16.50 and set an “outperform” rating for the company in a research note on Tuesday, June 25th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $16.65.

Insider Activity

In other news, Director Carlton L. Highsmith sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $16.21, for a total value of $162,100.00. Following the transaction, the director now owns 46,864 shares in the company, valued at $759,665.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.61% of the company’s stock.

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.