KeyCorp (NYSE:KEY) Shares Purchased by Marshall Wace LLP

Marshall Wace LLP boosted its stake in KeyCorp (NYSE:KEY) by 4,518.6% in the 2nd quarter, Holdings Channel reports. The firm owned 845,211 shares of the financial services provider’s stock after purchasing an additional 826,911 shares during the period. Marshall Wace LLP’s holdings in KeyCorp were worth $12,010,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Freestone Capital Holdings LLC purchased a new stake in shares of KeyCorp in the 1st quarter valued at $561,000. Assenagon Asset Management S.A. increased its stake in KeyCorp by 87.5% during the second quarter. Assenagon Asset Management S.A. now owns 1,308,797 shares of the financial services provider’s stock worth $18,598,000 after purchasing an additional 610,688 shares during the period. Commerce Bank lifted its position in shares of KeyCorp by 399.7% during the first quarter. Commerce Bank now owns 456,136 shares of the financial services provider’s stock worth $7,212,000 after purchasing an additional 364,850 shares in the last quarter. Cibc World Markets Corp boosted its stake in shares of KeyCorp by 44.4% in the fourth quarter. Cibc World Markets Corp now owns 217,122 shares of the financial services provider’s stock valued at $3,127,000 after purchasing an additional 66,806 shares during the period. Finally, Seven Eight Capital LP acquired a new position in shares of KeyCorp in the fourth quarter valued at approximately $801,000. Hedge funds and other institutional investors own 79.69% of the company’s stock.

KeyCorp Stock Performance

Shares of KEY stock opened at $16.61 on Friday. The stock’s 50-day moving average is $16.13 and its two-hundred day moving average is $15.16. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.85 and a current ratio of 0.85. KeyCorp has a 1 year low of $9.50 and a 1 year high of $17.39. The firm has a market cap of $15.66 billion, a price-to-earnings ratio of 21.03, a PEG ratio of 0.92 and a beta of 1.25.

KeyCorp (NYSE:KEY) last released its quarterly earnings results on Thursday, July 18th. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 8.64% and a net margin of 7.35%. The firm’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.27 EPS. Analysts predict that KeyCorp will post 1.09 earnings per share for the current year.

KeyCorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors 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 annualized dividend and a yield of 4.94%. KeyCorp’s dividend payout ratio (DPR) is 103.80%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $17.00 price target on shares of KeyCorp in a research report on Tuesday, August 13th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $18.00 target price on shares of KeyCorp in a report on Tuesday, September 10th. Wedbush upped their price target on KeyCorp from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Tuesday, September 24th. Morgan Stanley lifted their price objective 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 upped their target price on shares of KeyCorp from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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 shares were sold at an average price of $16.21, for a total value of $162,100.00. Following the transaction, the director now directly owns 46,864 shares in the company, valued at $759,665.44. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.61% of the stock is owned by company insiders.

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.