PGGM Investments Purchases New Shares in KeyCorp (NYSE:KEY)

PGGM Investments acquired a new position in shares of KeyCorp (NYSE:KEY) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 11,308 shares of the financial services provider’s stock, valued at approximately $179,000.

Other institutional investors also recently bought and sold shares of the company. First United Bank & Trust acquired a new position in shares of KeyCorp during the fourth quarter worth about $29,000. Crewe Advisors LLC acquired a new stake in KeyCorp in the 1st quarter valued at about $32,000. Quarry LP acquired a new position in shares of KeyCorp during the 4th quarter worth approximately $38,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of KeyCorp in the fourth quarter valued at $39,000. Finally, Criterion Capital Advisors LLC purchased a new position in KeyCorp in the 4th quarter valued at about $39,000. 79.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on KEY shares. Jefferies Financial Group lifted their price objective on KeyCorp from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Monday, April 8th. UBS Group cut KeyCorp from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $16.00 to $15.00 in a report on Monday, July 8th. DA Davidson lifted their target price on KeyCorp from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. Argus raised their price target on shares of KeyCorp from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. Finally, JPMorgan Chase & Co. cut their price target on shares of KeyCorp from $17.50 to $16.50 and set a “neutral” rating on the stock in a report on Thursday, June 27th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $16.13.

KeyCorp Stock Down 5.1 %

NYSE:KEY opened at $14.45 on Friday. The firm has a market capitalization of $13.63 billion, a PE ratio of 18.29, a price-to-earnings-growth ratio of 0.78 and a beta of 1.26. KeyCorp has a 52 week low of $9.50 and a 52 week high of $16.50. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.37. The stock has a 50 day moving average of $14.54 and a 200-day moving average of $14.62.

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

KeyCorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Tuesday, August 27th will be paid a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 5.67%. The ex-dividend date is Tuesday, August 27th. KeyCorp’s payout ratio is 103.80%.

KeyCorp 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.