Mercer Global Advisors Inc. ADV Decreases Stock Position in KeyCorp (NYSE:KEY)

Mercer Global Advisors Inc. ADV trimmed its position in shares of KeyCorp (NYSE:KEY) by 6.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 41,983 shares of the financial services provider’s stock after selling 3,044 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in KeyCorp were worth $597,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in KEY. Ontario Teachers Pension Plan Board boosted its stake in KeyCorp by 8.8% during the 1st quarter. Ontario Teachers Pension Plan Board now owns 21,690,319 shares of the financial services provider’s stock worth $342,924,000 after purchasing an additional 1,748,633 shares during the last quarter. Diamond Hill Capital Management Inc. lifted its stake in shares of KeyCorp by 12.2% in the second quarter. Diamond Hill Capital Management Inc. now owns 20,295,788 shares of the financial services provider’s stock worth $288,403,000 after buying an additional 2,213,872 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in KeyCorp by 2.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 10,508,853 shares of the financial services provider’s stock valued at $149,299,000 after acquiring an additional 300,339 shares in the last quarter. Earnest Partners LLC raised its holdings in KeyCorp by 12.7% in the 1st quarter. Earnest Partners LLC now owns 10,090,594 shares of the financial services provider’s stock valued at $159,532,000 after acquiring an additional 1,137,374 shares during the last quarter. Finally, Ceredex Value Advisors LLC raised its holdings in KeyCorp by 112.4% in the 2nd quarter. Ceredex Value Advisors LLC now owns 6,647,393 shares of the financial services provider’s stock valued at $94,459,000 after acquiring an additional 3,517,755 shares during the last quarter. 79.69% of the stock is owned by institutional investors and hedge funds.

KeyCorp Stock Up 0.4 %

Shares of NYSE KEY opened at $16.61 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.37. The business’s 50 day moving average is $16.11 and its two-hundred day moving average is $15.15. KeyCorp has a 52-week low of $9.50 and a 52-week high of $17.39. The firm has a market cap of $15.66 billion, a price-to-earnings ratio of 21.03, a PEG ratio of 0.92 and a beta of 1.25.

KeyCorp (NYSE:KEY) last posted its quarterly earnings data on Thursday, July 18th. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.01. KeyCorp had a return on equity of 8.64% and a net margin of 7.35%. The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter in the previous year, the business earned $0.27 EPS. The company’s quarterly revenue was down 4.3% compared to the same quarter last year. Research analysts predict that KeyCorp will post 1.09 EPS 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 given a dividend of $0.205 per share. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $0.82 annualized dividend and a dividend yield of 4.94%. KeyCorp’s dividend payout ratio is presently 103.80%.

Insider Activity

In related news, Director Carlton L. Highsmith sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $16.21, for a total transaction of $162,100.00. Following the sale, the director now directly owns 46,864 shares of the company’s stock, valued at approximately $759,665.44. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

KEY has been the subject of several recent research reports. UBS Group cut KeyCorp from a “buy” rating to a “neutral” rating and cut their price target for the company from $16.00 to $15.00 in a report on Monday, July 8th. JPMorgan Chase & Co. cut their target price on KeyCorp from $17.50 to $16.50 and set a “neutral” rating for the company in a research note on Thursday, June 27th. Royal Bank of Canada reiterated an “outperform” rating and set a $17.00 price target on shares of KeyCorp in a report on Tuesday, August 13th. DA Davidson upped their price objective on shares of KeyCorp from $16.00 to $18.00 and gave the company a “buy” rating in a report on Friday, July 19th. Finally, Morgan Stanley raised their price objective on shares of KeyCorp from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 14th. One equities research 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. Based on data from MarketBeat.com, KeyCorp currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.71.

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.