Morningstar Investment Services LLC Purchases 20,110 Shares of KeyCorp (NYSE:KEY)

Morningstar Investment Services LLC raised its position in KeyCorp (NYSE:KEY) by 134.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 35,022 shares of the financial services provider’s stock after purchasing an additional 20,110 shares during the period. Morningstar Investment Services LLC’s holdings in KeyCorp were worth $622,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. IFG Advisory LLC acquired a new stake in KeyCorp during the 2nd quarter valued at approximately $235,000. Charles Schwab Investment Management Inc. raised its stake in KeyCorp by 3.2% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 7,685,052 shares of the financial services provider’s stock valued at $136,410,000 after buying an additional 241,553 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its stake in KeyCorp by 1.6% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 823,679 shares of the financial services provider’s stock valued at $14,283,000 after buying an additional 13,274 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of KeyCorp by 4.5% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 58,976 shares of the financial services provider’s stock valued at $929,000 after buying an additional 2,538 shares during the period. Finally, Winslow Evans & Crocker Inc. lifted its holdings in shares of KeyCorp by 106.7% during the 2nd quarter. Winslow Evans & Crocker Inc. now owns 7,604 shares of the financial services provider’s stock valued at $136,000 after buying an additional 3,926 shares during the period. Institutional investors own 80.10% of the company’s stock.

KEY stock traded down $0.14 during midday trading on Wednesday, hitting $17.98. The company’s stock had a trading volume of 7,854,969 shares, compared to its average volume of 8,515,877. The company has a quick ratio of 0.89, a current ratio of 0.91 and a debt-to-equity ratio of 0.95. KeyCorp has a 12 month low of $13.65 and a 12 month high of $21.37. The company has a 50 day moving average of $16.87 and a two-hundred day moving average of $16.96. The firm has a market capitalization of $17.73 billion, a price-to-earnings ratio of 10.39, a price-to-earnings-growth ratio of 3.03 and a beta of 1.28.

KeyCorp (NYSE:KEY) last announced its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $0.44 EPS for the quarter, meeting analysts’ consensus estimates of $0.44. The company had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.62 billion. KeyCorp had a return on equity of 12.82% and a net margin of 23.15%. The firm’s revenue was down 2.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.44 earnings per share. On average, analysts anticipate that KeyCorp will post 1.79 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Tuesday, August 27th will be issued a $0.185 dividend. The ex-dividend date of this dividend is Monday, August 26th. This is an increase from KeyCorp’s previous quarterly dividend of $0.17. This represents a $0.74 dividend on an annualized basis and a dividend yield of 4.12%. KeyCorp’s dividend payout ratio (DPR) is currently 42.77%.

In other news, insider Andrew J. Paine III sold 99,999 shares of the business’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $18.26, for a total value of $1,825,981.74. Following the completion of the transaction, the insider now directly owns 85,469 shares of the company’s stock, valued at approximately $1,560,663.94. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.08% of the company’s stock.

Several equities analysts have recently weighed in on the stock. GMP Securities reiterated an “average” rating and issued a $34.50 price objective on shares of KeyCorp in a research note on Friday, May 17th. Piper Jaffray Companies set a $19.00 price objective on KeyCorp and gave the company a “buy” rating in a research report on Wednesday, September 4th. Robert W. Baird upgraded KeyCorp from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $18.00 to $19.00 in a research note on Friday, June 21st. Wood & Company reissued an “average” rating and issued a $38.00 target price on shares of KeyCorp in a report on Thursday, May 16th. Finally, BMO Capital Markets raised their target price on shares of KeyCorp from $19.00 to $20.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 24th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and ten have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $23.78.

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.

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Institutional Ownership by Quarter for KeyCorp (NYSE:KEY)

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