Nomura Holdings Inc. Buys New Position in KeyCorp (NYSE:KEY)

Nomura Holdings Inc. bought a new stake in shares of KeyCorp (NYSE:KEY) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 18,870 shares of the financial services provider’s stock, valued at approximately $272,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Envestnet Portfolio Solutions Inc. bought a new stake in shares of KeyCorp in the 3rd quarter worth approximately $381,000. Hsbc Holdings PLC lifted its position in shares of KeyCorp by 17.5% in the 3rd quarter. Hsbc Holdings PLC now owns 2,425,664 shares of the financial services provider’s stock worth $26,174,000 after acquiring an additional 361,147 shares during the period. Mariner LLC lifted its position in shares of KeyCorp by 5.1% in the 3rd quarter. Mariner LLC now owns 132,410 shares of the financial services provider’s stock worth $1,424,000 after acquiring an additional 6,472 shares during the period. Northern Trust Corp lifted its position in shares of KeyCorp by 8.8% in the 3rd quarter. Northern Trust Corp now owns 10,845,886 shares of the financial services provider’s stock worth $116,702,000 after acquiring an additional 880,139 shares during the period. Finally, Cary Street Partners Investment Advisory LLC bought a new stake in shares of KeyCorp in the 3rd quarter worth approximately $28,000. Institutional investors own 79.69% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on KEY shares. Jefferies Financial Group raised their target price on KeyCorp from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Keefe, Bruyette & Woods raised their target price on KeyCorp from $16.00 to $18.00 and gave the stock an “outperform” rating in a research report on Friday, April 5th. JPMorgan Chase & Co. cut their target price on KeyCorp from $18.00 to $17.50 and set a “neutral” rating for the company in a research report on Friday, June 14th. Argus raised their price target on KeyCorp from $15.00 to $16.00 and gave the company a “buy” rating in a report on Friday, April 19th. Finally, Wells Fargo & Company raised their price target on KeyCorp from $16.00 to $18.00 and gave the company an “overweight” 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 issued a buy rating to the stock. According to data from MarketBeat.com, KeyCorp currently has an average rating of “Moderate Buy” and an average price target of $15.97.

KeyCorp Stock Performance

KEY stock opened at $13.60 on Friday. The business’s 50-day moving average price is $14.44 and its two-hundred day moving average price is $14.44. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.72. The firm has a market cap of $12.82 billion, a PE ratio of 17.22, a P/E/G ratio of 0.69 and a beta of 1.28. KeyCorp has a 1-year low of $9.10 and a 1-year high of $15.86.

KeyCorp (NYSE:KEY) last posted its earnings results on Thursday, April 18th. The financial services provider reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.01). The business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.51 billion. KeyCorp had a return on equity of 8.89% and a net margin of 7.53%. The business’s revenue was down 10.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.44 earnings per share. As a group, research analysts forecast that KeyCorp will post 1.13 earnings per share for the current year.

KeyCorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Tuesday, May 28th were issued a $0.205 dividend. The ex-dividend date was Friday, May 24th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 6.03%. KeyCorp’s dividend payout ratio (DPR) is 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.