10,724 Shares in KeyCorp (NYSE:KEY) Bought by Magnetar Financial LLC

Magnetar Financial LLC purchased a new position in shares of KeyCorp (NYSE:KEY) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 10,724 shares of the financial services provider’s stock, valued at approximately $170,000.

Several other hedge funds have also recently modified their holdings of KEY. Raymond James & Associates lifted its holdings in shares of KeyCorp by 44.1% during the fourth quarter. Raymond James & Associates now owns 1,610,148 shares of the financial services provider’s stock worth $23,186,000 after purchasing an additional 492,584 shares during the period. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of KeyCorp by 3.4% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 181,902 shares of the financial services provider’s stock worth $2,619,000 after purchasing an additional 6,002 shares during the period. Blue Trust Inc. lifted its holdings in shares of KeyCorp by 20.1% during the fourth quarter. Blue Trust Inc. now owns 12,030 shares of the financial services provider’s stock worth $173,000 after purchasing an additional 2,016 shares during the period. Global Retirement Partners LLC lifted its holdings in shares of KeyCorp by 15.8% during the fourth quarter. Global Retirement Partners LLC now owns 6,592 shares of the financial services provider’s stock worth $92,000 after purchasing an additional 901 shares during the period. Finally, Washington Capital Management Inc. raised its position in KeyCorp by 162.1% in the fourth quarter. Washington Capital Management Inc. now owns 88,705 shares of the financial services provider’s stock worth $1,277,000 after acquiring an additional 54,855 shares in the last quarter. 79.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on KEY. Keefe, Bruyette & Woods increased their price objective on KeyCorp from $16.00 to $18.00 and gave the stock an “outperform” rating in a research report on Friday, April 5th. Jefferies Financial Group increased their price objective on KeyCorp from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. DA Davidson increased their price objective on KeyCorp from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. Evercore ISI cut their price objective on KeyCorp from $17.50 to $16.50 and set an “outperform” rating for the company in a research report on Tuesday, June 25th. Finally, UBS Group cut KeyCorp from a “buy” rating to a “neutral” rating and dropped their price target for the company from $16.00 to $15.00 in a research report on Monday, July 8th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $16.13.

KeyCorp Price Performance

Shares of KEY traded down $0.16 during trading hours on Monday, reaching $16.30. 1,009,053 shares of the company traded hands, compared to its average volume of 14,795,055. 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 stock has a market capitalization of $15.37 billion, a PE ratio of 20.84, a price-to-earnings-growth ratio of 0.89 and a beta of 1.26. KeyCorp has a fifty-two week low of $9.50 and a fifty-two week high of $16.48. The stock has a fifty day simple moving average of $14.46 and a 200 day simple moving average of $14.57.

KeyCorp (NYSE:KEY) last issued its quarterly earnings results on Thursday, July 18th. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $1.52 billion. During the same period last year, the company earned $0.27 EPS. The firm’s quarterly revenue was down 4.3% on a year-over-year basis. As a group, research analysts predict that KeyCorp will post 1.12 EPS for the current fiscal year.

KeyCorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Tuesday, August 27th will be paid a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 5.03%. The ex-dividend date of this dividend is Tuesday, August 27th. KeyCorp’s dividend payout ratio is currently 103.80%.

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.