GSA Capital Partners LLP Raises Stock Holdings in KeyCorp (NYSE:KEY)

GSA Capital Partners LLP grew its stake in KeyCorp (NYSE:KEY) by 315.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,153 shares of the financial services provider’s stock after buying an additional 36,556 shares during the quarter. GSA Capital Partners LLP’s holdings in KeyCorp were worth $761,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of KEY. Nisa Investment Advisors LLC boosted its stake in shares of KeyCorp by 8.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 273,010 shares of the financial services provider’s stock worth $3,931,000 after acquiring an additional 21,395 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of KeyCorp by 35.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 329,655 shares of the financial services provider’s stock worth $4,747,000 after acquiring an additional 86,579 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of KeyCorp by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 23,416,018 shares of the financial services provider’s stock worth $337,191,000 after acquiring an additional 289,258 shares during the period. Aigen Investment Management LP bought a new position in shares of KeyCorp in the fourth quarter worth about $1,556,000. Finally, Miller Howard Investments Inc. NY bought a new position in shares of KeyCorp in the fourth quarter worth about $7,200,000. Hedge funds and other institutional investors own 79.69% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on KEY shares. Evercore ISI dropped their price target on KeyCorp from $17.50 to $16.50 and set an “outperform” rating for the company in a research note on Tuesday, June 25th. Wells Fargo & Company increased their price target on KeyCorp from $16.00 to $18.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. UBS Group lowered KeyCorp from a “buy” rating to a “neutral” rating and dropped their price target for the company from $16.00 to $15.00 in a research note on Monday, July 8th. Jefferies Financial Group increased their price target on KeyCorp from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $41.00 price target on shares of KeyCorp in a research note on Tuesday, June 25th. One equities research 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’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.24.

KeyCorp Trading Up 0.5 %

Shares of NYSE KEY opened at $15.21 on Friday. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.87 and a current ratio of 0.87. The business’s 50 day moving average price is $14.32 and its 200-day moving average price is $14.47. KeyCorp has a fifty-two week low of $9.50 and a fifty-two week high of $15.86. The company has a market cap of $14.34 billion, a price-to-earnings ratio of 19.25, a PEG ratio of 0.78 and a beta of 1.26.

KeyCorp (NYSE:KEY) last issued its quarterly earnings results on Thursday, April 18th. The financial services provider reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.01). KeyCorp had a return on equity of 8.89% and a net margin of 7.53%. The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.51 billion. During the same quarter in the previous year, the company posted $0.44 earnings per share. The company’s quarterly revenue was down 10.6% compared to the same quarter last year. On average, sell-side analysts expect that KeyCorp will post 1.12 earnings per share for the current year.

KeyCorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Tuesday, August 27th will be issued a $0.205 dividend. The ex-dividend date of this dividend is Tuesday, August 27th. This represents a $0.82 annualized dividend and a dividend yield of 5.39%. KeyCorp’s payout ratio is 103.80%.

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.