Candriam S.C.A. Cuts Position in KeyCorp (NYSE:KEY)

Candriam S.C.A. decreased its position in KeyCorp (NYSE:KEY) by 12.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 49,731 shares of the financial services provider’s stock after selling 7,179 shares during the quarter. Candriam S.C.A.’s holdings in KeyCorp were worth $707,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Pathway Financial Advisers LLC bought a new stake in KeyCorp in the first quarter worth $25,000. First United Bank & Trust bought a new stake in shares of KeyCorp in the 4th quarter worth about $29,000. Crewe Advisors LLC bought a new stake in shares of KeyCorp in the 1st quarter worth about $32,000. Quarry LP purchased a new stake in shares of KeyCorp during the 4th quarter valued at about $38,000. Finally, Fidelis Capital Partners LLC bought a new position in shares of KeyCorp in the 1st quarter valued at about $39,000. 79.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on KEY shares. Morgan Stanley upped their price objective on KeyCorp from $18.00 to $20.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 14th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $18.00 price target on shares of KeyCorp in a report on Tuesday. JPMorgan Chase & Co. dropped their price objective on shares of KeyCorp from $17.50 to $16.50 and set a “neutral” rating for the company in a research note on Thursday, June 27th. Evercore ISI reduced their target price on shares of KeyCorp from $17.50 to $16.50 and set an “outperform” rating on the stock in a research note on Tuesday, June 25th. Finally, Wedbush raised their target price on shares of KeyCorp from $16.00 to $17.00 and gave the stock a “neutral” rating in a report on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.65.

KeyCorp Stock Up 0.3 %

Shares of KeyCorp stock opened at $15.92 on Thursday. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.85 and a quick ratio of 0.85. The stock has a market cap of $15.02 billion, a price-to-earnings ratio of 20.15, a PEG ratio of 0.87 and a beta of 1.25. The firm’s 50-day moving average is $15.76 and its two-hundred day moving average is $14.99. KeyCorp has a 1 year low of $9.50 and a 1 year high of $17.20.

KeyCorp (NYSE:KEY) last issued its quarterly earnings data on Thursday, July 18th. The financial services provider reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.52 billion. KeyCorp had a net margin of 7.35% and a return on equity of 8.64%. KeyCorp’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.27 earnings per share. As a group, research analysts expect that KeyCorp will post 1.09 earnings per share for the current fiscal year.

KeyCorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Tuesday, August 27th will be given a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 5.15%. The ex-dividend date of this dividend is Tuesday, August 27th. KeyCorp’s payout ratio is currently 103.80%.

Insider Buying and Selling at KeyCorp

In related news, Director Carlton L. Highsmith sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $16.21, for a total transaction of $162,100.00. Following the completion of the transaction, the director now owns 46,864 shares in the company, valued at approximately $759,665.44. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.61% of the stock is owned by insiders.

KeyCorp Company 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.