DNB Asset Management AS Buys 21,639 Shares of KeyCorp (NYSE:KEY)

DNB Asset Management AS lifted its stake in shares of KeyCorp (NYSE:KEYGet Rating) by 11.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 209,960 shares of the financial services provider’s stock after purchasing an additional 21,639 shares during the quarter. DNB Asset Management AS’s holdings in KeyCorp were worth $4,699,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. NuWave Investment Management LLC bought a new position in shares of KeyCorp during the 4th quarter worth about $183,000. Janus Henderson Group PLC raised its holdings in shares of KeyCorp by 32.7% in the 3rd quarter. Janus Henderson Group PLC now owns 2,123,523 shares of the financial services provider’s stock worth $45,911,000 after acquiring an additional 523,406 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of KeyCorp by 22.9% in the 4th quarter. First Trust Advisors LP now owns 3,097,095 shares of the financial services provider’s stock worth $71,636,000 after acquiring an additional 576,948 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of KeyCorp by 213.9% in the 4th quarter. JPMorgan Chase & Co. now owns 7,238,492 shares of the financial services provider’s stock worth $167,426,000 after acquiring an additional 4,932,777 shares during the last quarter. Finally, Balyasny Asset Management LLC raised its holdings in shares of KeyCorp by 4,070.9% in the 3rd quarter. Balyasny Asset Management LLC now owns 5,930,163 shares of the financial services provider’s stock worth $128,210,000 after acquiring an additional 5,787,985 shares during the last quarter. 83.24% of the stock is currently owned by institutional investors.

A number of equities research analysts recently weighed in on the stock. Piper Sandler set a $19.00 target price on shares of KeyCorp in a report on Monday. Jefferies Financial Group lowered shares of KeyCorp from a “buy” rating to a “hold” rating in a report on Monday, April 11th. Wells Fargo & Company upgraded shares of KeyCorp from an “underweight” rating to an “overweight” rating and upped their target price for the stock from $23.00 to $27.00 in a report on Monday, April 11th. Morgan Stanley decreased their price objective on shares of KeyCorp from $30.00 to $27.00 and set an “equal weight” rating for the company in a research note on Monday, March 28th. Finally, Citigroup reiterated a “neutral” rating on shares of KeyCorp in a research note on Thursday, March 24th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $25.14.

Shares of KEY stock opened at $17.41 on Thursday. The company has a 50 day moving average of $19.25 and a 200-day moving average of $22.42. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.81. KeyCorp has a 12-month low of $16.95 and a 12-month high of $27.17. The firm has a market cap of $16.23 billion, a P/E ratio of 7.05, a PEG ratio of 0.43 and a beta of 1.33.

KeyCorp (NYSE:KEYGet Rating) last issued its quarterly earnings results on Thursday, April 21st. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.03). The company had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.74 billion. KeyCorp had a return on equity of 15.42% and a net margin of 31.30%. The company’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.61 EPS. As a group, equities analysts expect that KeyCorp will post 2.2 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 15th. Investors of record on Tuesday, May 31st were issued a $0.195 dividend. This represents a $0.78 annualized dividend and a yield of 4.48%. The ex-dividend date was Friday, May 27th. KeyCorp’s dividend payout ratio (DPR) is presently 31.58%.

KeyCorp Profile (Get Rating)

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; and personal finance and financial wellness, student loan refinancing, mortgage and home equity, lending, credit card, treasury, business advisory, wealth management, asset management, investment, cash management, portfolio management, and trust and related services to individuals and small and medium-sized businesses.

Further Reading

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Institutional Ownership by Quarter for KeyCorp (NYSE:KEY)

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