Mutual of America Capital Management LLC Decreases Stock Position in KeyCorp (NYSE:KEY)

Mutual of America Capital Management LLC decreased its stake in shares of KeyCorp (NYSE:KEY) by 4.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 168,926 shares of the financial services provider’s stock after selling 7,525 shares during the quarter. Mutual of America Capital Management LLC’s holdings in KeyCorp were worth $2,400,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Quest Partners LLC acquired a new position in KeyCorp during the 4th quarter worth approximately $98,000. Cambridge Investment Research Advisors Inc. lifted its position in shares of KeyCorp by 15.5% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 123,736 shares of the financial services provider’s stock worth $1,782,000 after purchasing an additional 16,625 shares during the last quarter. US Bancorp DE grew its stake in shares of KeyCorp by 4.2% during the fourth quarter. US Bancorp DE now owns 396,336 shares of the financial services provider’s stock worth $5,707,000 after purchasing an additional 16,147 shares in the last quarter. Commerce Bank increased its holdings in KeyCorp by 2.1% in the fourth quarter. Commerce Bank now owns 91,286 shares of the financial services provider’s stock valued at $1,315,000 after buying an additional 1,890 shares during the last quarter. Finally, TD Asset Management Inc raised its stake in KeyCorp by 7.8% in the fourth quarter. TD Asset Management Inc now owns 385,341 shares of the financial services provider’s stock valued at $5,549,000 after buying an additional 27,815 shares in the last quarter. Institutional investors and hedge funds own 79.69% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on KEY. JPMorgan Chase & Co. cut their target price on KeyCorp from $17.50 to $16.50 and set a “neutral” rating on the stock in a research report on Thursday, June 27th. UBS Group downgraded shares of KeyCorp from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $16.00 to $15.00 in a research report on Monday, July 8th. Wedbush increased their target price on shares of KeyCorp from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Tuesday. Morgan Stanley boosted their price target on shares of KeyCorp from $18.00 to $20.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 14th. Finally, 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. One 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 company currently has an average rating of “Moderate Buy” and an average price target of $16.71.

Insider Activity at KeyCorp

In other KeyCorp news, Director Carlton L. Highsmith sold 10,000 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $16.21, for a total value of $162,100.00. Following the completion of the sale, the director now owns 46,864 shares of the company’s stock, valued at $759,665.44. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.61% of the company’s stock.

KeyCorp Stock Down 1.1 %

Shares of KeyCorp stock opened at $16.62 on Wednesday. KeyCorp has a one year low of $9.50 and a one year high of $17.39. The company has a market cap of $15.67 billion, a P/E ratio of 21.04, a PEG ratio of 0.90 and a beta of 1.25. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a fifty day moving average of $16.09 and a two-hundred day moving average of $15.13.

KeyCorp (NYSE:KEY) last posted its quarterly 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 firm had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same period in the prior year, the company posted $0.27 earnings per share. The firm’s revenue for the quarter was down 4.3% on a year-over-year basis. On average, analysts forecast that KeyCorp will post 1.09 earnings per share for the current year.

KeyCorp Announces Dividend

The firm 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. The ex-dividend date was Tuesday, August 27th. This represents a $0.82 annualized dividend and a dividend yield of 4.93%. KeyCorp’s dividend payout ratio is currently 103.80%.

KeyCorp Company 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.