Bluefin Capital Management LLC Acquires 52,300 Shares of KeyCorp (NYSE:KEY)

Bluefin Capital Management LLC increased its holdings in shares of KeyCorp (NYSE:KEY) by 201.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,300 shares of the financial services provider’s stock after acquiring an additional 52,300 shares during the period. KeyCorp makes up 0.3% of Bluefin Capital Management LLC’s investment portfolio, making the stock its 23rd largest holding. Bluefin Capital Management LLC’s holdings in KeyCorp were worth $1,113,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Freestone Capital Holdings LLC bought a new stake in KeyCorp during the first quarter worth about $561,000. Assenagon Asset Management S.A. lifted its stake in shares of KeyCorp by 87.5% in 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 buying an additional 610,688 shares in the last quarter. Commerce Bank lifted its stake in shares of KeyCorp by 399.7% in the first quarter. Commerce Bank now owns 456,136 shares of the financial services provider’s stock worth $7,212,000 after buying an additional 364,850 shares in the last quarter. Cibc World Markets Corp lifted 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 worth $3,127,000 after buying an additional 66,806 shares in the last quarter. Finally, Seven Eight Capital LP bought a new position in shares of KeyCorp in the fourth quarter worth approximately $801,000. Institutional investors own 79.69% of the company’s stock.

KeyCorp Stock Down 3.0 %

Shares of KEY stock opened at $16.24 on Wednesday. KeyCorp has a 12 month low of $9.50 and a 12 month high of $17.39. The stock has a market cap of $15.32 billion, a P/E ratio of 20.56, 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 company has a 50 day simple moving average of $16.16 and a two-hundred day simple moving average of $15.19.

KeyCorp (NYSE:KEY) last announced its earnings results on Thursday, July 18th. The financial services provider reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. The business 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%. The firm’s revenue was down 4.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.27 earnings per share. On average, research analysts expect that KeyCorp will post 1.09 earnings per share for the current year.

KeyCorp Announces Dividend

The company 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. 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 5.05%. KeyCorp’s dividend payout ratio (DPR) is presently 103.80%.

Insider Transactions at KeyCorp

In other news, Director Carlton L. Highsmith sold 10,000 shares of the 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 completion of the sale, the director now directly owns 46,864 shares of the company’s stock, 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.

Analysts Set New Price Targets

Several research analysts have recently issued reports on KEY shares. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $18.00 target price on shares of KeyCorp in a research note on Tuesday, September 10th. UBS Group downgraded shares of KeyCorp from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $16.00 to $15.00 in a research note on Monday, July 8th. Evercore ISI lowered their price objective on shares of KeyCorp from $17.50 to $16.50 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th. Jefferies Financial Group increased their price objective on shares of KeyCorp from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Monday, August 19th. Finally, DA Davidson increased their price objective on shares of KeyCorp from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Friday, July 19th. One 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. According to MarketBeat.com, KeyCorp currently has an average rating of “Moderate Buy” and an average price target of $16.71.

About KeyCorp

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.