Nordea Investment Management AB Purchases 38,969 Shares of KeyCorp (NYSE:KEY)

Nordea Investment Management AB lifted its stake in shares of KeyCorp (NYSE:KEY – Get Rating) by 4.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 992,039 shares of the financial services provider’s stock after acquiring an additional 38,969 shares during the quarter. Nordea Investment Management AB owned approximately 0.11% of KeyCorp worth $22,896,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. BlackRock Inc. grew its stake in shares of KeyCorp by 2.1% during the 4th quarter. BlackRock Inc. now owns 83,634,140 shares of the financial services provider’s stock valued at $1,934,456,000 after acquiring an additional 1,682,794 shares during the period. Capital International Investors grew its stake in shares of KeyCorp by 8.6% during the 4th quarter. Capital International Investors now owns 83,201,801 shares of the financial services provider’s stock valued at $1,924,458,000 after acquiring an additional 6,586,364 shares during the period. Geode Capital Management LLC grew its stake in shares of KeyCorp by 3.8% during the 4th quarter. Geode Capital Management LLC now owns 17,992,418 shares of the financial services provider’s stock valued at $415,188,000 after acquiring an additional 662,049 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of KeyCorp by 2.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 14,293,209 shares of the financial services provider’s stock valued at $330,603,000 after acquiring an additional 304,266 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of KeyCorp by 1.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 10,146,401 shares of the financial services provider’s stock valued at $234,686,000 after acquiring an additional 102,185 shares during the period. Institutional investors own 83.24% of the company’s stock.

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

KeyCorp (NYSE:KEY – Get Rating) last posted its quarterly earnings results on Thursday, April 21st. The financial services provider reported $0.45 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.03). KeyCorp had a net margin of 31.30% and a return on equity of 15.42%. The business had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter in the prior year, the firm posted $0.61 EPS. The company’s revenue for the quarter was down 3.1% compared to the same quarter last year. On average, research analysts predict that KeyCorp will post 2.2 EPS for the current fiscal year.

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

A number of brokerages have issued reports on KEY. Citigroup reaffirmed a “neutral” rating on shares of KeyCorp in a report on Thursday, March 24th. Jefferies Financial Group cut shares of KeyCorp from a “buy” rating to a “hold” rating in a research note on Monday, April 11th. The Goldman Sachs Group cut their target price on shares of KeyCorp from $27.00 to $23.00 and set a “buy” rating for the company in a research note on Tuesday, May 31st. Odeon Capital Group cut shares of KeyCorp from a “buy” rating to a “hold” rating in a research note on Tuesday, April 26th. Finally, Morgan Stanley cut their target price 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. Two analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, KeyCorp presently has a consensus rating of “Hold” and a consensus price target of $25.14.

About KeyCorp (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.

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