Pzena Investment Management LLC Buys 34,433 Shares of KeyCorp (NYSE:KEY)

Pzena Investment Management LLC grew its holdings in shares of KeyCorp (NYSE:KEY) by 2.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,764,419 shares of the financial services provider’s stock after purchasing an additional 34,433 shares during the period. Pzena Investment Management LLC’s holdings in KeyCorp were worth $25,408,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Aigen Investment Management LP bought a new stake in KeyCorp during the 4th quarter worth about $1,556,000. BNP Paribas Asset Management Holding S.A. lifted its position in KeyCorp by 22.9% during the 4th quarter. BNP Paribas Asset Management Holding S.A. now owns 1,692,683 shares of the financial services provider’s stock worth $24,375,000 after buying an additional 315,022 shares in the last quarter. Quest Partners LLC bought a new stake in KeyCorp during the 4th quarter worth about $98,000. BI Asset Management Fondsmaeglerselskab A S lifted its position in KeyCorp by 81.5% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 21,684 shares of the financial services provider’s stock worth $312,000 after buying an additional 9,737 shares in the last quarter. Finally, Norges Bank bought a new stake in KeyCorp during the 4th quarter worth about $128,203,000. 79.69% of the stock is owned by institutional investors.

KeyCorp Stock Performance

Shares of NYSE:KEY traded down $0.24 on Thursday, reaching $14.79. 3,528,212 shares of the company’s stock were exchanged, compared to its average volume of 15,057,957. The company has a fifty day moving average of $14.97 and a 200-day moving average of $14.15. KeyCorp has a twelve month low of $9.10 and a twelve month high of $15.86. The company has a market capitalization of $13.94 billion, a price-to-earnings ratio of 19.02, a PEG ratio of 0.74 and a beta of 1.28. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.72.

KeyCorp (NYSE:KEY) last announced its earnings results 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 return on equity of 8.89% and a net margin of 7.53%. The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same quarter in the previous year, the company earned $0.44 EPS. The business’s revenue for the quarter was down 10.6% on a year-over-year basis. On average, research analysts predict that KeyCorp will post 1.14 EPS for the current fiscal year.

KeyCorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Tuesday, May 28th will be issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 5.54%. The ex-dividend date of this dividend is Friday, May 24th. KeyCorp’s dividend payout ratio (DPR) is presently 103.80%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on KEY shares. Jefferies Financial Group boosted their price target on shares of KeyCorp from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Keefe, Bruyette & Woods upped their target price on shares of KeyCorp from $16.00 to $18.00 and gave the company an “outperform” rating in a report on Friday, April 5th. Evercore ISI upped their target price on shares of KeyCorp from $17.00 to $18.00 and gave the company an “outperform” rating in a report on Thursday, March 28th. Royal Bank of Canada upped their target price on shares of KeyCorp from $15.00 to $16.00 and gave the company an “outperform” rating in a report on Friday, April 19th. Finally, Morgan Stanley upped their target price on shares of KeyCorp from $12.00 to $16.00 and gave the company an “equal weight” rating in a report on Wednesday, February 7th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.00.

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.