Nordea Investment Management AB Has $1.42 Million Stock Holdings in KeyCorp (NYSE:KEY)

Nordea Investment Management AB decreased its holdings in shares of KeyCorp (NYSE:KEY) by 2.7% in the 1st quarter, HoldingsChannel reports. The firm owned 90,504 shares of the financial services provider’s stock after selling 2,464 shares during the period. Nordea Investment Management AB’s holdings in KeyCorp were worth $1,424,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also added to or reduced their stakes in the business. Fidelis Capital Partners LLC acquired a new stake in KeyCorp during the 1st quarter valued at $39,000. StoneX Group Inc. lifted its holdings in KeyCorp by 12.6% during the 1st quarter. StoneX Group Inc. now owns 84,471 shares of the financial services provider’s stock valued at $1,335,000 after purchasing an additional 9,485 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in KeyCorp by 42.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 470,315 shares of the financial services provider’s stock valued at $7,115,000 after purchasing an additional 140,660 shares during the last quarter. Private Advisor Group LLC lifted its holdings in KeyCorp by 29.0% during the 1st quarter. Private Advisor Group LLC now owns 128,622 shares of the financial services provider’s stock valued at $2,034,000 after purchasing an additional 28,907 shares during the last quarter. Finally, HB Wealth Management LLC lifted its holdings in KeyCorp by 10.4% during the 1st quarter. HB Wealth Management LLC now owns 34,340 shares of the financial services provider’s stock valued at $543,000 after purchasing an additional 3,233 shares during the last quarter. Institutional investors and hedge funds own 79.69% of the company’s stock.

KeyCorp Stock Performance

KeyCorp stock opened at $15.13 on Friday. KeyCorp has a 12-month low of $9.50 and a 12-month high of $15.86. 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 business’s 50-day moving average price is $14.31 and its two-hundred day moving average price is $14.47. The stock has a market cap of $14.27 billion, a PE ratio of 19.15, a P/E/G ratio of 0.76 and a beta of 1.26.

KeyCorp (NYSE:KEY) last released its earnings results on Thursday, April 18th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). KeyCorp had a net margin of 7.53% and a return on equity of 8.89%. The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter in the prior year, the firm earned $0.44 EPS. The business’s revenue was down 10.6% on a year-over-year basis. As a group, analysts expect that KeyCorp will post 1.12 earnings per share for the current fiscal year.

KeyCorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Tuesday, August 27th will be given a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 5.42%. The ex-dividend date is Tuesday, August 27th. KeyCorp’s dividend payout ratio is presently 103.80%.

Analyst Ratings Changes

Several equities research analysts have issued reports on KEY shares. JPMorgan Chase & Co. cut their price target on KeyCorp from $17.50 to $16.50 and set a “neutral” rating for the company in a report on Thursday, June 27th. UBS Group downgraded 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 report on Monday. Jefferies Financial Group lifted their target price on KeyCorp from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Keefe, Bruyette & Woods lifted their target price on KeyCorp from $16.00 to $18.00 and gave the stock an “outperform” rating in a report on Friday, April 5th. Finally, Evercore ISI dropped their target price on KeyCorp from $17.50 to $16.50 and set an “outperform” rating for the company in a report on Tuesday, June 25th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $17.24.

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.