KeyCorp (NYSE:KEY) Shares Sold by Jump Financial LLC

Jump Financial LLC cut its holdings in shares of KeyCorp (NYSE:KEY) by 6.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,486 shares of the financial services provider’s stock after selling 1,893 shares during the period. Jump Financial LLC’s holdings in KeyCorp were worth $367,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. BNP Paribas Financial Markets increased its stake in KeyCorp by 130.1% during the 4th quarter. BNP Paribas Financial Markets now owns 1,242,937 shares of the financial services provider’s stock valued at $17,898,000 after purchasing an additional 702,852 shares in the last quarter. Kovitz Investment Group Partners LLC raised its stake in KeyCorp by 5.7% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 189,111 shares of the financial services provider’s stock worth $2,723,000 after acquiring an additional 10,192 shares during the last quarter. Principal Securities Inc. acquired a new stake in KeyCorp during the 4th quarter worth about $279,000. Picton Mahoney Asset Management purchased a new stake in KeyCorp during the 4th quarter valued at about $8,050,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of KeyCorp by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 23,416,018 shares of the financial services provider’s stock valued at $337,191,000 after purchasing an additional 289,258 shares during the period. Hedge funds and other institutional investors own 79.69% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Keefe, Bruyette & Woods increased their price target on shares of KeyCorp from $16.00 to $18.00 and gave the stock an “outperform” rating in a report on Friday, April 5th. Argus boosted their target price on shares of KeyCorp from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Friday, April 19th. Wells Fargo & Company increased their price target on KeyCorp from $16.00 to $18.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Morgan Stanley boosted their price objective on KeyCorp from $12.00 to $16.00 and gave the company an “equal weight” rating in a report on Wednesday, February 7th. Finally, Evercore ISI raised their target price on KeyCorp from $17.00 to $18.00 and gave the stock an “outperform” rating in a report on Thursday, March 28th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $16.00.

KeyCorp Trading Up 1.6 %

Shares of NYSE:KEY opened at $14.48 on Friday. The company has a market cap of $13.65 billion, a PE ratio of 18.33, a P/E/G ratio of 0.70 and a beta of 1.28. The company’s 50 day moving average is $14.97 and its two-hundred day moving average is $14.17. KeyCorp has a 52 week low of $9.10 and a 52 week high of $15.86. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.72.

KeyCorp (NYSE:KEY) last released its quarterly earnings data on Thursday, April 18th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.01). KeyCorp had a return on equity of 8.89% and a net margin of 7.53%. The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same period in the prior year, the company posted $0.44 earnings per share. The company’s revenue was down 10.6% compared to the same quarter last year. Equities analysts predict that KeyCorp will post 1.14 earnings per share for the current fiscal year.

KeyCorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Tuesday, May 28th will be given a $0.205 dividend. The ex-dividend date is Friday, May 24th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 5.66%. KeyCorp’s dividend payout ratio (DPR) is presently 103.80%.

About KeyCorp

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.