KeyCorp (KEY) Shares Sold by BlackRock Advisors LLC
BlackRock Advisors LLC cut its stake in shares of KeyCorp (NYSE:KEY) by 0.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,610,648 shares of the financial services provider’s stock after selling 21,076 shares during the period. BlackRock Advisors LLC owned about 0.43% of KeyCorp worth $39,898,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the stock. Bank of Montreal Can bought a new position in KeyCorp during the second quarter valued at approximately $185,766,000. Norges Bank bought a new position in KeyCorp during the fourth quarter valued at approximately $97,075,000. Barrow Hanley Mewhinney & Strauss LLC raised its position in KeyCorp by 225.0% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 10,372,753 shares of the financial services provider’s stock valued at $114,619,000 after buying an additional 7,181,216 shares during the period. Samlyn Capital LLC raised its position in KeyCorp by 69.5% in the first quarter. Samlyn Capital LLC now owns 14,217,900 shares of the financial services provider’s stock valued at $156,966,000 after buying an additional 5,830,900 shares during the period. Finally, Renaissance Technologies LLC bought a new position in KeyCorp during the first quarter valued at approximately $30,658,000. 66.30% of the stock is currently owned by institutional investors and hedge funds.
Shares of KeyCorp (NYSE:KEY) opened at 12.26 on Tuesday. KeyCorp has a one year low of $9.88 and a one year high of $14.01. The stock has a 50 day moving average price of $12.20 and a 200 day moving average price of $11.83. The firm has a market cap of $13.27 billion, a price-to-earnings ratio of 12.68 and a beta of 1.23.
KeyCorp (NYSE:KEY) last issued its earnings results on Tuesday, July 26th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.27. KeyCorp had a return on equity of 8.46% and a net margin of 17.81%. The business earned $1.07 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same period in the prior year, the firm posted $0.27 EPS. KeyCorp’s quarterly revenue was down .1% compared to the same quarter last year. On average, equities research analysts forecast that KeyCorp will post $1.06 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Friday, July 29th were issued a dividend of $0.085 per share. The ex-dividend date of this dividend was Wednesday, July 27th. This represents a $0.34 dividend on an annualized basis and a yield of 2.77%. KeyCorp’s dividend payout ratio is 35.42%.
Several equities analysts recently commented on the company. Piper Jaffray Cos. lowered KeyCorp from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $14.50 to $13.00 in a research report on Monday, August 29th. Citigroup Inc. boosted their price target on KeyCorp from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Monday, August 22nd. Zacks Investment Research raised KeyCorp from a “strong sell” rating to a “hold” rating in a research report on Monday, August 1st. BMO Capital Markets reissued a “buy” rating and set a $15.00 price target on shares of KeyCorp in a research report on Wednesday, July 27th. Finally, Jefferies Group reissued a “buy” rating and set a $14.00 price target (down from $14.50) on shares of KeyCorp in a research report on Wednesday, July 27th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. KeyCorp presently has a consensus rating of “Buy” and an average price target of $14.37.
KeyCorp Company Profile
KeyCorp is a bank holding company. The Bank operates through its subsidiary, KeyBank National Association (KeyBank), which is engaged in providing banking services. Through KeyBank and other subsidiaries, the Company provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, commercial mortgage servicing and special servicing, and investment banking products and services to individual, corporate and institutional clients.
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