KeyCorp (NYSE:KEY) Shares Sold by American International Group Inc.

American International Group Inc. decreased its position in shares of KeyCorp (NYSE:KEY) by 0.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 245,473 shares of the financial services provider’s stock after selling 2,140 shares during the period. American International Group Inc.’s holdings in KeyCorp were worth $3,535,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new position in KeyCorp in the 4th quarter valued at approximately $128,203,000. Ceredex Value Advisors LLC purchased a new stake in KeyCorp during the 4th quarter worth about $64,421,000. AQR Capital Management LLC raised its position in KeyCorp by 844.4% in the 3rd quarter. AQR Capital Management LLC now owns 3,160,631 shares of the financial services provider’s stock valued at $34,008,000 after purchasing an additional 2,825,977 shares in the last quarter. Balyasny Asset Management L.P. boosted its stake in shares of KeyCorp by 26,297.7% in the 4th quarter. Balyasny Asset Management L.P. now owns 2,708,664 shares of the financial services provider’s stock valued at $39,005,000 after buying an additional 2,698,403 shares during the period. Finally, Impax Asset Management Group plc grew its position in shares of KeyCorp by 11,813.2% during the fourth quarter. Impax Asset Management Group plc now owns 2,289,724 shares of the financial services provider’s stock worth $32,972,000 after buying an additional 2,270,504 shares in the last quarter. 79.69% of the stock is currently owned by hedge funds and other institutional investors.

KeyCorp Stock Performance

NYSE KEY opened at $13.60 on Monday. The business’s 50-day moving average price is $14.44 and its 200 day moving average price is $14.45. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.72. The firm has a market cap of $12.82 billion, a P/E ratio of 17.22, a P/E/G ratio of 0.69 and a beta of 1.28. KeyCorp has a 52-week low of $9.10 and a 52-week high of $15.86.

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

KeyCorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Tuesday, May 28th were paid a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 6.03%. The ex-dividend date was Friday, May 24th. KeyCorp’s dividend payout ratio (DPR) is presently 103.80%.

Analyst Ratings Changes

A number of research analysts recently issued reports on KEY shares. Evercore ISI lifted their price target on shares of KeyCorp from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Thursday, March 28th. Keefe, Bruyette & Woods boosted their target price on shares of KeyCorp from $16.00 to $18.00 and gave the stock an “outperform” rating in a research note on Friday, April 5th. Royal Bank of Canada lifted their price target on KeyCorp from $15.00 to $16.00 and gave the stock an “outperform” rating in a report on Friday, April 19th. Jefferies Financial Group increased their price objective on KeyCorp from $17.00 to $18.00 and gave the company a “buy” rating in a report on Monday, April 8th. Finally, Argus boosted their target price on KeyCorp from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, KeyCorp presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.97.

KeyCorp Profile

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.