WINTON GROUP Ltd Grows Stake in KeyCorp $KEY

WINTON GROUP Ltd raised its holdings in shares of KeyCorp (NYSE:KEY) by 1,691.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 244,695 shares of the financial services provider’s stock after buying an additional 231,035 shares during the quarter. WINTON GROUP Ltd’s holdings in KeyCorp were worth $5,640,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the business. Bank of Nova Scotia increased its position in shares of KeyCorp by 0.6% during the 1st quarter. Bank of Nova Scotia now owns 162,996,326 shares of the financial services provider’s stock valued at $3,268,076,000 after purchasing an additional 900,951 shares during the last quarter. BlackRock Inc. bought a new stake in KeyCorp in the 2nd quarter worth approximately $2,039,113,000. Wellington Management Group LLP boosted its stake in KeyCorp by 90.2% in the third quarter. Wellington Management Group LLP now owns 36,370,694 shares of the financial services provider’s stock worth $679,768,000 after buying an additional 17,245,128 shares in the last quarter. California State Teachers Retirement System boosted its stake in KeyCorp by 2,126.0% in the second quarter. California State Teachers Retirement System now owns 31,165,167 shares of the financial services provider’s stock worth $718,357,000 after buying an additional 29,765,093 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in KeyCorp by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 23,983,690 shares of the financial services provider’s stock valued at $493,048,000 after acquiring an additional 115,968 shares during the last quarter. 79.69% of the stock is currently owned by institutional investors.

KeyCorp Stock Performance

KEY stock opened at $21.72 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.84 and a quick ratio of 0.83. KeyCorp has a fifty-two week low of $16.47 and a fifty-two week high of $24.07. The stock has a market capitalization of $23.18 billion, a PE ratio of 12.63, a price-to-earnings-growth ratio of 0.82 and a beta of 1.02. The company has a 50 day moving average price of $22.61 and a 200 day moving average price of $21.75.

KeyCorp (NYSE:KEY) last posted its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.02. The business had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $1.97 billion. KeyCorp had a return on equity of 11.23% and a net margin of 17.83%.The firm’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.35 earnings per share. Analysts forecast that KeyCorp will post 1.83 EPS for the current year.

KeyCorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be given a dividend of $0.205 per share. The ex-dividend date is Tuesday, September 1st. This represents a $0.82 annualized dividend and a dividend yield of 3.8%. KeyCorp’s payout ratio is currently 47.67%.

Analysts Set New Price Targets

A number of brokerages recently commented on KEY. Weiss Ratings reiterated a “buy (b)” rating on shares of KeyCorp in a research report on Friday, August 7th. DA Davidson reaffirmed a “buy” rating and set a $28.00 price objective on shares of KeyCorp in a research note on Wednesday, July 22nd. Royal Bank Of Canada lifted their price objective on KeyCorp from $24.00 to $25.00 and gave the stock an “outperform” rating in a report on Wednesday, July 22nd. Morgan Stanley boosted their target price on KeyCorp from $24.00 to $25.00 and gave the company an “equal weight” rating in a research note on Monday, June 29th. Finally, Wells Fargo & Company increased their target price on KeyCorp from $24.00 to $27.00 and gave the company an “overweight” rating in a report on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, KeyCorp presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.14.

KeyCorp Profile

KeyCorp is a financial services company headquartered in Cleveland, Ohio, and the parent company of KeyBank National Association. Founded in 1825, KeyBank is one of the largest regional banks in the United States and provides banking and financial services to individuals, businesses, institutions and government entities.

KeyBank’s consumer banking activities include checking and savings accounts, residential mortgages, home equity lending, personal loans, credit cards and financial planning.