Gabelli Funds LLC Has $895,000 Stock Holdings in KeyCorp (NYSE:KEY)

Gabelli Funds LLC lessened its position in KeyCorp (NYSE:KEY) by 3.1% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 63,000 shares of the financial services provider’s stock after selling 2,000 shares during the period. Gabelli Funds LLC’s holdings in KeyCorp were worth $895,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Valeo Financial Advisors LLC boosted its stake in shares of KeyCorp by 1.0% in the 1st quarter. Valeo Financial Advisors LLC now owns 69,213 shares of the financial services provider’s stock valued at $1,094,000 after purchasing an additional 704 shares in the last quarter. Raymond James Trust N.A. lifted its position in KeyCorp by 2.5% during the 2nd quarter. Raymond James Trust N.A. now owns 30,155 shares of the financial services provider’s stock worth $429,000 after buying an additional 724 shares in the last quarter. Caldwell Sutter Capital Inc. lifted its position in KeyCorp by 3.7% during the 1st quarter. Caldwell Sutter Capital Inc. now owns 20,927 shares of the financial services provider’s stock worth $331,000 after buying an additional 742 shares in the last quarter. Czech National Bank lifted its position in KeyCorp by 0.5% during the 1st quarter. Czech National Bank now owns 164,768 shares of the financial services provider’s stock worth $2,605,000 after buying an additional 788 shares in the last quarter. Finally, CWM LLC lifted its position in KeyCorp by 1.7% during the 1st quarter. CWM LLC now owns 50,656 shares of the financial services provider’s stock worth $801,000 after buying an additional 837 shares in the last quarter. Institutional investors and hedge funds own 79.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on KEY shares. JPMorgan Chase & Co. reduced their price target on shares of KeyCorp from $17.50 to $16.50 and set a “neutral” rating on the stock in a research report on Thursday, June 27th. Royal Bank of Canada reiterated an “outperform” rating and set a $17.00 price target on shares of KeyCorp in a research report on Tuesday, August 13th. Morgan Stanley upped their price target on shares of KeyCorp from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 14th. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $18.00 price target on shares of KeyCorp in a research report on Tuesday, September 10th. Finally, Citigroup upped their target price on shares of KeyCorp from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, KeyCorp currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.71.

KeyCorp Stock Up 1.1 %

Shares of KeyCorp stock opened at $16.56 on Friday. The company has a market capitalization of $15.61 billion, a P/E ratio of 20.96, a price-to-earnings-growth ratio of 0.92 and a beta of 1.25. 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 business has a 50-day moving average of $16.09 and a two-hundred day moving average of $15.14. KeyCorp has a 1 year low of $9.50 and a 1 year high of $17.39.

KeyCorp (NYSE:KEY) last announced its earnings results on Thursday, July 18th. The financial services provider reported $0.25 EPS for the quarter, topping the consensus estimate of $0.24 by $0.01. The firm had revenue of $1.53 billion for 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%. The business’s quarterly revenue was down 4.3% on a year-over-year basis. During the same period last year, the company posted $0.27 EPS. As a group, equities analysts predict that KeyCorp will post 1.09 EPS for the current year.

KeyCorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Tuesday, August 27th were paid a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 4.95%. The ex-dividend date was Tuesday, August 27th. KeyCorp’s payout ratio is presently 103.80%.

Insiders Place Their Bets

In other news, Director Carlton L. Highsmith sold 10,000 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $16.21, for a total value of $162,100.00. Following the sale, the director now directly owns 46,864 shares in the company, valued at $759,665.44. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.61% of the company’s stock.

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.