CANADA LIFE ASSURANCE Co Has $12.53 Million Stock Holdings in KeyCorp (NYSE:KEY)

CANADA LIFE ASSURANCE Co cut its stake in KeyCorp (NYSE:KEY) by 4.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 792,202 shares of the financial services provider’s stock after selling 34,163 shares during the quarter. CANADA LIFE ASSURANCE Co owned approximately 0.08% of KeyCorp worth $12,530,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of KEY. Wellington Management Group LLP acquired a new position in shares of KeyCorp in the third quarter worth $2,145,000. HB Wealth Management LLC boosted its holdings in KeyCorp by 68.3% in the fourth quarter. HB Wealth Management LLC now owns 31,107 shares of the financial services provider’s stock worth $448,000 after purchasing an additional 12,626 shares in the last quarter. Raymond James & Associates boosted its holdings in KeyCorp by 44.1% in the fourth quarter. Raymond James & Associates now owns 1,610,148 shares of the financial services provider’s stock worth $23,186,000 after purchasing an additional 492,584 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in KeyCorp by 3.4% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 181,902 shares of the financial services provider’s stock worth $2,619,000 after purchasing an additional 6,002 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC bought a new stake in KeyCorp in the fourth quarter worth $413,000. 79.69% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Argus upped their price objective on shares of KeyCorp from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Friday, April 19th. Jefferies Financial Group upped their price target on shares of KeyCorp from $17.00 to $18.00 and gave the company a “buy” rating in a report on Monday, April 8th. Wedbush upped their price target on shares of KeyCorp from $15.00 to $16.00 and gave the company a “neutral” rating in a report on Friday, July 19th. Evercore ISI decreased their price target on shares of KeyCorp from $17.50 to $16.50 and set an “outperform” rating for the company in a report on Tuesday, June 25th. Finally, Royal Bank of Canada increased their target price on shares of KeyCorp from $16.00 to $17.00 and gave the company an “outperform” rating in a research note on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $16.13.

KeyCorp Price Performance

NYSE:KEY traded up $0.31 during mid-day trading on Thursday, hitting $16.10. The company’s stock had a trading volume of 7,454,692 shares, compared to its average volume of 14,863,033. KeyCorp has a fifty-two week low of $9.50 and a fifty-two week 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 market capitalization of $15.18 billion, a price-to-earnings ratio of 20.46, a P/E/G ratio of 0.86 and a beta of 1.26. The stock has a fifty day moving average of $14.43 and a 200-day moving average of $14.55.

KeyCorp (NYSE:KEY) last posted its quarterly earnings results on Thursday, July 18th. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.01. The firm 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 quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.27 earnings per share. As a group, equities analysts forecast that KeyCorp will post 1.12 EPS for the current fiscal year.

KeyCorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Tuesday, August 27th will be issued a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 5.09%. The ex-dividend date of this dividend is Tuesday, August 27th. KeyCorp’s payout ratio is 103.80%.

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.