KeyCorp (NYSE:KEY) Shares Purchased by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S grew its stake in shares of KeyCorp (NYSE:KEY) by 93.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 41,992 shares of the financial services provider’s stock after buying an additional 20,308 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in KeyCorp were worth $664,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in KEY. Bruce G. Allen Investments LLC acquired a new stake in KeyCorp during the fourth quarter worth about $26,000. Sound Income Strategies LLC lifted its position in KeyCorp by 3,600.0% during the fourth quarter. Sound Income Strategies LLC now owns 1,887 shares of the financial services provider’s stock valued at $27,000 after buying an additional 1,836 shares in the last quarter. First United Bank & Trust purchased a new stake in KeyCorp during the fourth quarter worth approximately $29,000. Baldwin Brothers LLC MA purchased a new position in shares of KeyCorp in the 4th quarter valued at $35,000. Finally, Creative Financial Designs Inc. ADV lifted its holdings in shares of KeyCorp by 195.2% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 2,666 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 1,763 shares in the last quarter. 79.69% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on KEY. UBS Group downgraded KeyCorp from a “buy” rating to a “neutral” rating and lowered their price target for the company from $16.00 to $15.00 in a report on Monday. Keefe, Bruyette & Woods boosted their price target on KeyCorp from $16.00 to $18.00 and gave the stock an “outperform” rating in a research report on Friday, April 5th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $41.00 price objective on shares of KeyCorp in a research report on Tuesday, June 25th. Jefferies Financial Group boosted their target price on shares of KeyCorp from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Finally, Argus raised their price target on shares of KeyCorp from $15.00 to $16.00 and gave the company a “buy” rating in a report on Friday, April 19th. One investment 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $17.24.

KeyCorp Price Performance

KEY opened at $14.68 on Thursday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.72. The company’s 50-day moving average price is $14.31 and its 200 day moving average price is $14.46. KeyCorp has a fifty-two week low of $9.50 and a fifty-two week high of $15.86. The firm has a market cap of $13.84 billion, a price-to-earnings ratio of 18.58, a price-to-earnings-growth ratio of 0.71 and a beta of 1.26.

KeyCorp (NYSE:KEY) last announced its quarterly earnings results on Thursday, April 18th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.01). KeyCorp had a net margin of 7.53% and a return on equity of 8.89%. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same period last year, the firm posted $0.44 EPS. The business’s revenue was down 10.6% compared to the same quarter last year. As a group, sell-side analysts expect that KeyCorp will post 1.13 earnings per share for the current year.

KeyCorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Tuesday, August 27th will be given a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 5.59%. KeyCorp’s dividend payout ratio is presently 103.80%.

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.