KeyCorp (NYSE:KEY) Shares Bought by Forsta AP Fonden

Forsta AP Fonden grew its position in shares of KeyCorp (NYSE:KEY) by 15.1% during the first quarter, Holdings Channel reports. The firm owned 251,600 shares of the financial services provider’s stock after acquiring an additional 33,000 shares during the quarter. Forsta AP Fonden’s holdings in KeyCorp were worth $3,978,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the company. Bruce G. Allen Investments LLC acquired a new stake in shares of KeyCorp in the fourth quarter valued at $26,000. Sound Income Strategies LLC increased its holdings in KeyCorp by 3,600.0% in 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 during the last quarter. First United Bank & Trust purchased a new position in KeyCorp in the fourth quarter valued at $29,000. Baldwin Brothers LLC MA purchased a new position in KeyCorp in the fourth quarter valued at $35,000. Finally, Creative Financial Designs Inc. ADV increased its holdings in KeyCorp by 195.2% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 2,666 shares of the financial services provider’s stock valued at $38,000 after buying an additional 1,763 shares during the last quarter. 79.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Jefferies Financial Group increased their target price on KeyCorp from $17.00 to $18.00 and gave the company a “buy” rating in a report on Monday, April 8th. Royal Bank of Canada reissued an “outperform” rating and issued a $41.00 target price on shares of KeyCorp in a report on Tuesday, June 25th. Evercore ISI dropped their price objective on KeyCorp from $17.50 to $16.50 and set an “outperform” rating on the stock in a report on Tuesday, June 25th. JPMorgan Chase & Co. dropped their price objective on KeyCorp from $17.50 to $16.50 and set a “neutral” rating on the stock in a report on Thursday, June 27th. Finally, Wells Fargo & Company raised their price objective on KeyCorp from $16.00 to $18.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $17.24.

KeyCorp Trading Up 1.5 %

Shares of KEY opened at $15.44 on Monday. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.87 and a quick ratio of 0.87. The firm has a 50 day simple moving average of $14.32 and a 200-day simple moving average of $14.47. KeyCorp has a 1-year low of $9.50 and a 1-year high of $15.86. The stock has a market cap of $14.56 billion, a price-to-earnings ratio of 19.25, a price-to-earnings-growth ratio of 0.79 and a beta of 1.26.

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

KeyCorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Tuesday, August 27th will be paid a $0.205 dividend. The ex-dividend date is Tuesday, August 27th. This represents a $0.82 annualized dividend and a yield of 5.31%. KeyCorp’s payout ratio is currently 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.