KeyCorp (NYSE:KEY) Shares Acquired by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC lifted its holdings in shares of KeyCorp (NYSE:KEY) by 174.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,704,596 shares of the financial services provider’s stock after buying an additional 1,083,614 shares during the period. Cubist Systematic Strategies LLC owned approximately 0.18% of KeyCorp worth $24,222,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Valeo Financial Advisors LLC lifted its position in KeyCorp by 1.0% in the first quarter. Valeo Financial Advisors LLC now owns 69,213 shares of the financial services provider’s stock valued at $1,094,000 after purchasing an additional 704 shares during the period. Raymond James Trust N.A. lifted its position in KeyCorp by 2.5% in the second quarter. Raymond James Trust N.A. now owns 30,155 shares of the financial services provider’s stock valued at $429,000 after purchasing an additional 724 shares during the period. Caldwell Sutter Capital Inc. lifted its position in KeyCorp by 3.7% in the first quarter. Caldwell Sutter Capital Inc. now owns 20,927 shares of the financial services provider’s stock valued at $331,000 after purchasing an additional 742 shares during the period. Czech National Bank lifted its position in KeyCorp by 0.5% in the first quarter. Czech National Bank now owns 164,768 shares of the financial services provider’s stock valued at $2,605,000 after purchasing an additional 788 shares during the period. Finally, CWM LLC lifted its position in KeyCorp by 1.7% in the first quarter. CWM LLC now owns 50,656 shares of the financial services provider’s stock valued at $801,000 after purchasing an additional 837 shares during the period. Institutional investors and hedge funds own 79.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on KEY shares. Wedbush raised their price objective on shares of KeyCorp from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Tuesday. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $18.00 price target on shares of KeyCorp in a research report on Tuesday, September 10th. Jefferies Financial Group lifted their price target on shares of KeyCorp from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Monday, August 19th. UBS Group downgraded shares of KeyCorp from a “buy” rating to a “neutral” rating and reduced their price target for the company from $16.00 to $15.00 in a research report on Monday, July 8th. Finally, Citigroup lifted their price target on shares of KeyCorp from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $16.71.

KeyCorp Trading Down 1.1 %

Shares of KEY opened at $16.62 on Wednesday. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a 50 day simple moving average of $16.09 and a 200-day simple moving average of $15.13. KeyCorp has a 1-year low of $9.50 and a 1-year high of $17.39. The stock has a market cap of $15.68 billion, a price-to-earnings ratio of 21.04, a price-to-earnings-growth ratio of 0.93 and a beta of 1.25.

KeyCorp (NYSE:KEY) last issued its quarterly earnings data on Thursday, July 18th. The financial services provider reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. KeyCorp had a net margin of 7.35% and a return on equity of 8.64%. The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same period last year, the company posted $0.27 EPS. The company’s revenue was down 4.3% on a year-over-year basis. Equities analysts forecast that KeyCorp will post 1.1 EPS for the current fiscal year.

KeyCorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Tuesday, August 27th were paid a $0.205 dividend. The ex-dividend date was Tuesday, August 27th. This represents a $0.82 annualized dividend and a yield of 4.93%. KeyCorp’s payout ratio is currently 103.80%.

Insiders Place Their Bets

In other KeyCorp news, Director Carlton L. Highsmith sold 10,000 shares of KeyCorp stock in a transaction that occurred on Friday, August 16th. The shares were 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 directly owns 46,864 shares of the company’s stock, valued at approximately $759,665.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.61% of the stock is owned by corporate insiders.

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.