Mason Street Advisors LLC Invests $1,254,000 in KeyCorp (KEY)
Mason Street Advisors LLC bought a new stake in KeyCorp (NYSE:KEY) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 113,463 shares of the financial services provider’s stock, valued at approximately $1,254,000.
Other large investors have also bought and sold shares of the company. Norges Bank acquired a new stake in KeyCorp during the fourth quarter valued at $97,075,000. Chevy Chase Trust Holdings Inc. boosted its stake in KeyCorp by 2.4% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 705,066 shares of the financial services provider’s stock valued at $7,784,000 after buying an additional 16,309 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in KeyCorp by 14.9% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 196,440 shares of the financial services provider’s stock valued at $2,169,000 after buying an additional 25,534 shares during the last quarter. Exxonmobil Investment Management Inc. TX boosted its stake in KeyCorp by 8.7% in the first quarter. Exxonmobil Investment Management Inc. TX now owns 203,450 shares of the financial services provider’s stock valued at $2,246,000 after buying an additional 16,209 shares during the last quarter. Finally, Fox Run Management L.L.C. acquired a new stake in KeyCorp during the first quarter valued at $275,000. Hedge funds and other institutional investors own 66.25% of the company’s stock.
Shares of KeyCorp (NYSE:KEY) opened at 12.24 on Thursday. The firm has a market cap of $13.25 billion, a price-to-earnings ratio of 12.66 and a beta of 1.23. KeyCorp has a 12-month low of $9.88 and a 12-month high of $14.01. The firm has a 50-day moving average price of $12.24 and a 200 day moving average price of $11.83.
KeyCorp (NYSE:KEY) last posted its quarterly earnings data on Tuesday, July 26th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.27. KeyCorp had a return on equity of 8.46% and a net margin of 17.81%. The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the prior year, the business earned $0.27 EPS. The business’s revenue for the quarter was down .1% compared to the same quarter last year. On average, equities research analysts anticipate that KeyCorp will post $1.06 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Friday, July 29th were issued a dividend of $0.085 per share. This represents a $0.34 annualized dividend and a yield of 2.78%. The ex-dividend date was Wednesday, July 27th. KeyCorp’s dividend payout ratio is 35.42%.
A number of equities research analysts have weighed in on the company. Nomura upgraded KeyCorp from a “neutral” rating to a “buy” rating in a research note on Wednesday, June 1st. Vetr upgraded KeyCorp from a “buy” rating to a “strong-buy” rating and set a $13.77 price objective for the company in a research note on Monday, June 13th. Deutsche Bank AG reiterated a “hold” rating and issued a $13.00 price objective on shares of KeyCorp in a research note on Wednesday, June 15th. Zacks Investment Research cut KeyCorp from a “hold” rating to a “sell” rating in a research note on Tuesday, June 28th. Finally, Jefferies Group reiterated a “buy” rating on shares of KeyCorp in a research note on Wednesday, June 29th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $14.37.
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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