Primecap Management Co. CA Has $33.53 Million Stake in KeyCorp (NYSE:KEY)

Primecap Management Co. CA grew its position in shares of KeyCorp (NYSE:KEYFree Report) by 6.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,328,500 shares of the financial services provider’s stock after purchasing an additional 140,900 shares during the quarter. Primecap Management Co. CA owned approximately 0.25% of KeyCorp worth $33,530,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC increased its position in KeyCorp by 23.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 64,529 shares of the financial services provider’s stock valued at $694,000 after purchasing an additional 12,206 shares during the period. Teacher Retirement System of Texas increased its position in shares of KeyCorp by 3.6% during the third quarter. Teacher Retirement System of Texas now owns 72,460 shares of the financial services provider’s stock valued at $780,000 after acquiring an additional 2,501 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of KeyCorp by 2.2% during the 3rd quarter. Principal Financial Group Inc. now owns 1,110,192 shares of the financial services provider’s stock worth $11,946,000 after purchasing an additional 23,986 shares during the period. Nomura Asset Management Co. Ltd. boosted its stake in KeyCorp by 11.9% in the third quarter. Nomura Asset Management Co. Ltd. now owns 264,889 shares of the financial services provider’s stock valued at $2,850,000 after acquiring an additional 28,228 shares during the last quarter. Finally, NBC Securities Inc. purchased a new position in shares of KeyCorp during the 3rd quarter valued at $67,000. 79.69% of the stock is owned by institutional investors.

KeyCorp Trading Up 1.6 %

Shares of NYSE:KEY traded up $0.22 during trading hours on Friday, hitting $14.48. 7,253,374 shares of the company’s stock traded hands, compared to its average volume of 9,891,670. The firm has a market capitalization of $13.65 billion, a P/E ratio of 18.33, a price-to-earnings-growth ratio of 0.70 and a beta of 1.28. The business has a fifty day moving average price of $14.97 and a 200-day moving average price of $14.19. KeyCorp has a 1 year low of $9.10 and a 1 year high of $15.86. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.87 and a quick ratio of 0.87.

KeyCorp (NYSE:KEYGet Free Report) last posted its quarterly earnings data on Thursday, April 18th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). KeyCorp had a net margin of 7.53% and a return on equity of 8.89%. The business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.51 billion. During the same quarter in the previous year, the firm earned $0.44 EPS. KeyCorp’s revenue was down 10.6% compared to the same quarter last year. Equities analysts expect that KeyCorp will post 1.14 earnings per share for the current year.

KeyCorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Tuesday, May 28th will be given a $0.205 dividend. The ex-dividend date is Friday, May 24th. This represents a $0.82 annualized dividend and a dividend yield of 5.66%. KeyCorp’s payout ratio is presently 103.80%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on KEY shares. JPMorgan Chase & Co. increased their price objective on KeyCorp from $16.00 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday, April 4th. Keefe, Bruyette & Woods increased their price target on shares of KeyCorp from $16.00 to $18.00 and gave the company an “outperform” rating in a research report on Friday, April 5th. Argus raised their target price on KeyCorp from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. Evercore ISI upped their price objective on shares of KeyCorp from $17.00 to $18.00 and gave the stock an “outperform” rating in a report on Thursday, March 28th. Finally, Royal Bank of Canada raised their price objective on KeyCorp from $15.00 to $16.00 and gave the company an “outperform” rating in a research report on Friday, April 19th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, KeyCorp has a consensus rating of “Moderate Buy” and a consensus price target of $16.00.

Get Our Latest Analysis on KEY

About KeyCorp

(Free Report)

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.

Featured Stories

Institutional Ownership by Quarter for KeyCorp (NYSE:KEY)

Receive News & Ratings for KeyCorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KeyCorp and related companies with MarketBeat.com's FREE daily email newsletter.