Healthcare of Ontario Pension Plan Trust Fund Makes New Investment in KeyCorp (NYSE:KEY)

Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of KeyCorp (NYSE:KEY) during the second quarter, HoldingsChannel.com reports. The fund acquired 276,100 shares of the financial services provider’s stock, valued at approximately $3,923,000.

Other hedge funds have also made changes to their positions in the company. Ceredex Value Advisors LLC boosted its position in KeyCorp by 112.4% during the second quarter. Ceredex Value Advisors LLC now owns 6,647,393 shares of the financial services provider’s stock worth $94,459,000 after purchasing an additional 3,517,755 shares during the period. Westfield Capital Management Co. LP bought a new stake in shares of KeyCorp during the 1st quarter worth $42,857,000. Balyasny Asset Management L.P. grew its stake in KeyCorp by 26,297.7% in the 4th 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 buying an additional 2,698,403 shares during the last quarter. National Bank of Canada FI raised its holdings in KeyCorp by 1,051.3% in the 1st quarter. National Bank of Canada FI now owns 2,569,771 shares of the financial services provider’s stock worth $38,752,000 after acquiring an additional 2,346,565 shares during the period. Finally, Point72 Asset Management L.P. bought a new position in KeyCorp in the 2nd quarter worth $33,273,000. Institutional investors and hedge funds own 79.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Jefferies Financial Group upped their price target on shares of KeyCorp from $18.00 to $19.00 and gave the company a “buy” rating in a report on Monday, August 19th. Evercore ISI raised their target price on KeyCorp from $18.50 to $20.00 and gave the company an “outperform” rating in a report on Wednesday. DA Davidson lifted their price target on KeyCorp from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. Citigroup increased their price objective on KeyCorp from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. Finally, Wedbush boosted their target price on shares of KeyCorp from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 24th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, KeyCorp has a consensus rating of “Moderate Buy” and a consensus price target of $16.91.

Insider Activity at KeyCorp

In other KeyCorp news, Director Carlton L. Highsmith sold 10,000 shares of the 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 directly owns 46,864 shares in the company, valued at $759,665.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.61% of the stock is owned by insiders.

KeyCorp Price Performance

NYSE:KEY opened at $16.78 on Friday. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.85 and a current ratio of 0.85. The company has a 50-day moving average of $16.18 and a 200-day moving average of $15.23. KeyCorp has a 52 week low of $9.50 and a 52 week high of $17.39. The company has a market capitalization of $15.82 billion, a price-to-earnings ratio of 21.24, a PEG ratio of 0.90 and a beta of 1.25.

KeyCorp (NYSE:KEY) last posted its quarterly earnings results on Thursday, July 18th. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.01. The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.52 billion. KeyCorp had a net margin of 7.35% and a return on equity of 8.64%. The company’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.27 earnings per share. As a group, equities research analysts anticipate that KeyCorp will post 1.1 earnings per share for the current fiscal year.

KeyCorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Tuesday, August 27th were given a dividend of $0.205 per share. The ex-dividend date was Tuesday, August 27th. This represents a $0.82 annualized dividend and a dividend yield of 4.89%. KeyCorp’s dividend payout ratio (DPR) is presently 103.80%.

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.