KeyCorp (NYSE:KEY) is Point72 Europe London LLP’s 10th Largest Position

Point72 Europe London LLP boosted its holdings in KeyCorp (NYSE:KEY) by 85.4% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,496,382 shares of the financial services provider’s stock after purchasing an additional 689,082 shares during the period. KeyCorp comprises approximately 1.8% of Point72 Europe London LLP’s portfolio, making the stock its 10th largest holding. Point72 Europe London LLP’s holdings in KeyCorp were worth $21,264,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in KEY. Ceredex Value Advisors LLC lifted its stake in shares of KeyCorp by 112.4% in the 2nd quarter. Ceredex Value Advisors LLC now owns 6,647,393 shares of the financial services provider’s stock valued at $94,459,000 after acquiring an additional 3,517,755 shares during the last quarter. Westfield Capital Management Co. LP purchased a new position in KeyCorp in the 1st quarter worth approximately $42,857,000. Balyasny Asset Management L.P. lifted its position in KeyCorp by 26,297.7% in the fourth 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 purchasing an additional 2,698,403 shares during the last quarter. National Bank of Canada FI boosted its stake in shares of KeyCorp by 1,051.3% during the first quarter. National Bank of Canada FI now owns 2,569,771 shares of the financial services provider’s stock valued at $38,752,000 after purchasing an additional 2,346,565 shares during the period. Finally, Point72 Asset Management L.P. bought a new position in shares of KeyCorp in the second quarter worth approximately $33,273,000. 79.69% of the stock is currently owned by hedge funds and other institutional investors.

KeyCorp Stock Performance

Shares of KeyCorp stock opened at $16.62 on Wednesday. KeyCorp has a 12 month low of $9.50 and a 12 month high of $17.39. The firm has a market capitalization of $15.68 billion, a P/E ratio of 21.04, a P/E/G ratio of 0.93 and a beta of 1.25. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.37. The business has a fifty day simple moving average of $16.09 and a two-hundred day simple moving average of $15.13.

KeyCorp (NYSE:KEY) last issued its quarterly earnings results on Thursday, July 18th. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. The company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.52 billion. KeyCorp had a net margin of 7.35% and a return on equity of 8.64%. KeyCorp’s revenue was down 4.3% on a year-over-year basis. During the same period last year, the company posted $0.27 EPS. On average, equities analysts forecast that KeyCorp will post 1.1 earnings per share for the current fiscal year.

KeyCorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Tuesday, August 27th were given a $0.205 dividend. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.93%. KeyCorp’s dividend payout ratio is currently 103.80%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Morgan Stanley upped their price target on shares of KeyCorp from $18.00 to $20.00 and gave the company an “equal weight” rating in a report on Wednesday, August 14th. DA Davidson upped their price objective on shares of KeyCorp from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Friday, July 19th. Evercore ISI cut their target price on KeyCorp from $17.50 to $16.50 and set an “outperform” rating on the stock in a research note on Tuesday, June 25th. Royal Bank of Canada restated an “outperform” rating and set a $17.00 price target on shares of KeyCorp in a report on Tuesday, August 13th. Finally, JPMorgan Chase & Co. dropped their price objective on KeyCorp from $17.50 to $16.50 and set a “neutral” rating for the company in a report on Thursday, June 27th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $16.71.

Insider Buying and Selling

In other KeyCorp news, Director Carlton L. Highsmith sold 10,000 shares of KeyCorp stock in a transaction on Friday, August 16th. The stock was 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 $759,665.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.61% of the stock is currently owned by company 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.