Strategy Asset Managers LLC Makes New Investment in KeyCorp (NYSE:KEY)

Strategy Asset Managers LLC bought a new position in KeyCorp (NYSE:KEYGet Rating) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 9,202 shares of the financial services provider’s stock, valued at approximately $206,000.

Several other institutional investors have also recently modified their holdings of the company. Glassman Wealth Services grew its holdings in KeyCorp by 31.3% during the 4th quarter. Glassman Wealth Services now owns 1,778 shares of the financial services provider’s stock valued at $41,000 after buying an additional 424 shares in the last quarter. Resources Investment Advisors LLC. grew its holdings in KeyCorp by 0.7% during the 4th quarter. Resources Investment Advisors LLC. now owns 62,640 shares of the financial services provider’s stock valued at $1,449,000 after buying an additional 449 shares in the last quarter. Stevens Capital Management LP grew its holdings in KeyCorp by 4.5% during the 4th quarter. Stevens Capital Management LP now owns 11,187 shares of the financial services provider’s stock valued at $259,000 after buying an additional 482 shares in the last quarter. Quadrant Capital Group LLC grew its holdings in KeyCorp by 8.2% during the 4th quarter. Quadrant Capital Group LLC now owns 6,957 shares of the financial services provider’s stock valued at $161,000 after buying an additional 526 shares in the last quarter. Finally, Orion Portfolio Solutions LLC grew its holdings in shares of KeyCorp by 5.4% in the fourth quarter. Orion Portfolio Solutions LLC now owns 10,435 shares of the financial services provider’s stock valued at $241,000 after purchasing an additional 536 shares in the last quarter. Hedge funds and other institutional investors own 83.24% of the company’s stock.

NYSE:KEY opened at $17.41 on Thursday. KeyCorp has a twelve month low of $16.95 and a twelve month high of $27.17. The company has a market cap of $16.23 billion, a price-to-earnings ratio of 7.05, a price-to-earnings-growth ratio of 0.43 and a beta of 1.33. The stock has a fifty day simple moving average of $19.25 and a 200-day simple moving average of $22.42. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.81.

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

The company 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. The ex-dividend date of this dividend was Friday, May 27th. This represents a $0.78 annualized dividend and a dividend yield of 4.48%. KeyCorp’s payout ratio is currently 31.58%.

KEY has been the subject of a number of recent research reports. Odeon Capital Group lowered shares of KeyCorp from a “buy” rating to a “hold” rating in a report on Tuesday, April 26th. Citigroup reissued a “neutral” rating on shares of KeyCorp in a report on Thursday, March 24th. 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 report on Monday, March 28th. StockNews.com began coverage on KeyCorp in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Wells Fargo & Company upgraded KeyCorp from an “underweight” rating to an “overweight” rating and raised their price target for the stock from $23.00 to $27.00 in a research report on Monday, April 11th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $25.14.

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.

Read More

Want to see what other hedge funds are holding KEY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for KeyCorp (NYSE:KEYGet Rating).

Institutional Ownership by Quarter for KeyCorp (NYSE:KEY)

Want More Great Investing Ideas?

Receive News & Ratings for KeyCorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KeyCorp and related companies with MarketBeat.com's FREE daily email newsletter.