Dean Investment Associates LLC Takes Position in KeyCorp (KEY)

Dean Investment Associates LLC bought a new stake in shares of KeyCorp (NYSE:KEY) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 175,140 shares of the financial services provider’s stock, valued at approximately $3,424,000.

Other hedge funds have also added to or reduced their stakes in the company. M&T Bank Corp lifted its holdings in shares of KeyCorp by 5.6% during the fourth quarter. M&T Bank Corp now owns 86,925 shares of the financial services provider’s stock valued at $1,754,000 after purchasing an additional 4,576 shares during the last quarter. Xact Kapitalforvaltning AB lifted its holdings in shares of KeyCorp by 4.8% during the fourth quarter. Xact Kapitalforvaltning AB now owns 240,699 shares of the financial services provider’s stock valued at $4,855,000 after purchasing an additional 10,948 shares during the last quarter. SeaCrest Wealth Management LLC purchased a new position in shares of KeyCorp during the fourth quarter valued at approximately $971,000. Patten & Patten Inc. TN lifted its holdings in shares of KeyCorp by 125.9% during the fourth quarter. Patten & Patten Inc. TN now owns 606,197 shares of the financial services provider’s stock valued at $12,227,000 after purchasing an additional 337,842 shares during the last quarter. Finally, SG Americas Securities LLC lifted its holdings in shares of KeyCorp by 351.9% during the fourth quarter. SG Americas Securities LLC now owns 231,408 shares of the financial services provider’s stock valued at $4,667,000 after purchasing an additional 180,200 shares during the last quarter. Hedge funds and other institutional investors own 80.06% of the company’s stock.

In other news, insider Robert A. Deangelis sold 25,000 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $21.11, for a total transaction of $527,750.00. Following the completion of the sale, the insider now owns 175,053 shares of the company’s stock, valued at approximately $3,695,368.83. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Edward J. Burke sold 10,000 shares of the business’s stock in a transaction on Tuesday, May 8th. The shares were sold at an average price of $19.83, for a total transaction of $198,300.00. Following the sale, the insider now directly owns 126,526 shares of the company’s stock, valued at approximately $2,509,010.58. The disclosure for this sale can be found here. Insiders own 0.67% of the company’s stock.

NYSE:KEY opened at $20.41 on Tuesday. The company has a quick ratio of 0.87, a current ratio of 0.89 and a debt-to-equity ratio of 0.99. KeyCorp has a 12 month low of $16.28 and a 12 month high of $22.40. The company has a market capitalization of $21.50 billion, a price-to-earnings ratio of 14.16, a P/E/G ratio of 1.26 and a beta of 1.05.

KeyCorp (NYSE:KEY) last posted its earnings results on Thursday, April 19th. The financial services provider reported $0.38 EPS for the quarter, hitting analysts’ consensus estimates of $0.38. KeyCorp had a net margin of 19.32% and a return on equity of 11.03%. The business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter in the previous year, the firm posted $0.32 EPS. The firm’s revenue was up 3.1% on a year-over-year basis. sell-side analysts forecast that KeyCorp will post 1.7 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 15th. Shareholders of record on Tuesday, May 29th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend is Friday, May 25th. This is an increase from KeyCorp’s previous quarterly dividend of $0.11. KeyCorp’s payout ratio is 30.88%.

Several equities research analysts recently weighed in on the stock. Deutsche Bank raised shares of KeyCorp from a “hold” rating to a “buy” rating and raised their price target for the company from $23.00 to $24.00 in a research report on Thursday, January 25th. Oppenheimer reissued a “hold” rating on shares of KeyCorp in a research report on Monday, January 22nd. Zacks Investment Research downgraded shares of KeyCorp from a “buy” rating to a “hold” rating in a research report on Tuesday, February 13th. Morgan Stanley raised their price target on shares of KeyCorp from $24.50 to $25.00 and gave the company an “overweight” rating in a research report on Tuesday, April 24th. Finally, BMO Capital Markets reduced their price target on shares of KeyCorp from $25.00 to $24.00 and set an “outperform” rating for the company in a research report on Friday, April 20th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $22.45.

About KeyCorp

KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking services in the United States. The company's Key Community Bank segment offers various deposit and investment products, personal finance services, residential mortgages, home equity loans, credit cards, and installment loans, as well as personal property and casualty insurance, such as home, auto, renters, watercraft, and umbrella insurance for individuals.

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Institutional Ownership by Quarter for KeyCorp (NYSE:KEY)

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