Headlands Technologies LLC Buys 15,913 Shares of KeyCorp (NYSE:KEY)

Headlands Technologies LLC grew its stake in shares of KeyCorp (NYSE:KEY) by 235.9% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 22,658 shares of the financial services provider’s stock after purchasing an additional 15,913 shares during the quarter. Headlands Technologies LLC’s holdings in KeyCorp were worth $322,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new stake in KeyCorp during the fourth quarter valued at $128,203,000. Ceredex Value Advisors LLC raised its stake 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 valued at $94,459,000 after purchasing an additional 3,517,755 shares in the last quarter. Westfield Capital Management Co. LP purchased a new stake in KeyCorp during the first quarter valued at $42,857,000. Balyasny Asset Management L.P. raised its stake in KeyCorp by 26,297.7% during the fourth 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 purchasing an additional 2,698,403 shares in the last quarter. Finally, National Bank of Canada FI raised its stake in KeyCorp by 1,051.3% during the first quarter. National Bank of Canada FI now owns 2,569,771 shares of the financial services provider’s stock valued at $38,752,000 after purchasing an additional 2,346,565 shares in the last quarter. Institutional investors own 79.69% of the company’s stock.

Insider Activity

In other news, Director Carlton L. Highsmith sold 10,000 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $16.21, for a total value of $162,100.00. Following the sale, the director now directly owns 46,864 shares in the company, valued at approximately $759,665.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

KEY has been the topic of a number of recent research reports. Morgan Stanley upped their price target on shares of KeyCorp from $18.00 to $20.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 14th. Jefferies Financial Group increased their target price on shares of KeyCorp from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Monday, August 19th. JPMorgan Chase & Co. reduced their target price on shares of KeyCorp from $17.50 to $16.50 and set a “neutral” rating on the stock in a research note on Thursday, June 27th. Wedbush increased their target price on shares of KeyCorp from $16.00 to $17.00 and gave the company a “neutral” rating in a research note on Tuesday, August 13th. Finally, Evercore ISI reduced their target price on shares of KeyCorp from $17.50 to $16.50 and set an “outperform” rating on the stock in a research note on Tuesday, June 25th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $16.65.

KeyCorp Stock Down 0.1 %

Shares of KeyCorp stock opened at $16.09 on Friday. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.85 and a quick ratio of 0.85. KeyCorp has a 1 year low of $9.50 and a 1 year high of $17.20. The firm’s 50-day moving average is $15.84 and its two-hundred day moving average is $15.01. The stock has a market cap of $15.17 billion, a price-to-earnings ratio of 20.37, a PEG ratio of 0.88 and a beta of 1.25.

KeyCorp (NYSE:KEY) last issued its 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. KeyCorp had a net margin of 7.35% and a return on equity of 8.64%. The company had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.52 billion. During the same period in the prior year, the business earned $0.27 EPS. The firm’s quarterly revenue was down 4.3% on a year-over-year basis. As a group, research analysts expect that KeyCorp will post 1.09 earnings per share for the current fiscal year.

KeyCorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Tuesday, August 27th were issued a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 5.10%. The ex-dividend date of this dividend was Tuesday, August 27th. KeyCorp’s dividend payout ratio is currently 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.