KeyCorp (NYSE:KEY) Shares Bought by Pacer Advisors Inc.

Pacer Advisors Inc. grew its holdings in KeyCorp (NYSE:KEY) by 4.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,218 shares of the financial services provider’s stock after purchasing an additional 2,985 shares during the quarter. Pacer Advisors Inc.’s holdings in KeyCorp were worth $955,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. AE Wealth Management LLC boosted its stake in KeyCorp by 4.6% during the second quarter. AE Wealth Management LLC now owns 1,197,392 shares of the financial services provider’s stock worth $17,015,000 after buying an additional 52,191 shares during the last quarter. Intech Investment Management LLC raised its holdings in shares of KeyCorp by 4,423.1% during the 2nd quarter. Intech Investment Management LLC now owns 592,893 shares of the financial services provider’s stock worth $8,425,000 after acquiring an additional 579,785 shares during the period. MQS Management LLC acquired a new position in shares of KeyCorp during the 2nd quarter valued at about $145,000. Seven Eight Capital LP grew its holdings in shares of KeyCorp by 56.5% in the second quarter. Seven Eight Capital LP now owns 147,549 shares of the financial services provider’s stock valued at $2,097,000 after purchasing an additional 53,244 shares during the period. Finally, Hsbc Holdings PLC increased its position in KeyCorp by 20.9% during the second quarter. Hsbc Holdings PLC now owns 2,669,749 shares of the financial services provider’s stock worth $37,750,000 after purchasing an additional 460,924 shares during the last quarter. 79.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on KEY. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $18.00 price target on shares of KeyCorp in a research note on Tuesday, September 10th. UBS Group lowered KeyCorp from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $16.00 to $15.00 in a research report on Monday, July 8th. DA Davidson raised their target price on KeyCorp from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. Morgan Stanley upped their price target on KeyCorp from $18.00 to $20.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 14th. Finally, Citigroup raised their price objective on KeyCorp from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Tuesday, August 13th. One equities 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 company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.71.

KeyCorp Price Performance

Shares of KEY opened at $16.61 on Friday. The company has a market cap of $15.66 billion, a P/E ratio of 21.03, a PEG ratio of 0.92 and a beta of 1.25. KeyCorp has a fifty-two week low of $9.50 and a fifty-two week high of $17.39. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.37. The firm’s 50 day moving average price is $16.11 and its 200 day moving average price is $15.15.

KeyCorp (NYSE:KEY) last posted its quarterly earnings data on Thursday, July 18th. The financial services provider reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.52 billion. KeyCorp had a return on equity of 8.64% and a net margin of 7.35%. The company’s revenue was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.27 earnings per share. On average, research analysts forecast 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 was paid on Friday, September 13th. Stockholders of record on Tuesday, August 27th were paid a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 4.94%. The ex-dividend date of this dividend was Tuesday, August 27th. KeyCorp’s payout ratio is presently 103.80%.

Insider Transactions at KeyCorp

In related news, Director Carlton L. Highsmith sold 10,000 shares of KeyCorp stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $16.21, for a total value 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.61% of the company’s stock.

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.