Cantor Fitzgerald Investment Advisors L.P. Invests $3.34 Million in KeyCorp (NYSE:KEY)

Cantor Fitzgerald Investment Advisors L.P. acquired a new stake in shares of KeyCorp (NYSE:KEY) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 232,010 shares of the financial services provider’s stock, valued at approximately $3,341,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Bruce G. Allen Investments LLC bought a new position in KeyCorp in the fourth quarter worth approximately $26,000. Sound Income Strategies LLC lifted its stake in KeyCorp by 3,600.0% in the fourth quarter. Sound Income Strategies LLC now owns 1,887 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 1,836 shares during the period. Cary Street Partners Investment Advisory LLC bought a new position in KeyCorp during the 3rd quarter worth about $28,000. First United Bank & Trust bought a new stake in shares of KeyCorp in the 4th quarter valued at about $29,000. Finally, Baldwin Brothers LLC MA purchased a new stake in shares of KeyCorp in the 4th quarter worth approximately $35,000. 79.69% of the stock is currently owned by institutional investors.

KeyCorp Stock Performance

KEY traded up $0.22 on Friday, reaching $14.48. 7,253,374 shares of the stock were exchanged, compared to its average volume of 9,891,670. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.87 and a quick ratio of 0.87. The company’s 50-day moving average price is $14.97 and its 200 day moving average price is $14.21. The firm has a market capitalization of $13.65 billion, a PE ratio of 18.33, a PEG ratio of 0.70 and a beta of 1.28. KeyCorp has a fifty-two week low of $9.10 and a fifty-two week high of $15.86.

KeyCorp (NYSE:KEY) last released its quarterly earnings data on Thursday, April 18th. The financial services provider reported $0.22 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.01). The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.51 billion. KeyCorp had a net margin of 7.53% and a return on equity of 8.89%. The firm’s revenue was down 10.6% on a year-over-year basis. During the same period last year, the company earned $0.44 earnings per share. As a group, sell-side analysts forecast that KeyCorp will post 1.14 EPS for the current fiscal year.

KeyCorp Announces Dividend

The company also recently announced 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 annualized dividend and a dividend yield of 5.66%. The ex-dividend date is Friday, May 24th. KeyCorp’s dividend payout ratio (DPR) is 103.80%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Wells Fargo & Company boosted their price objective on shares of KeyCorp from $16.00 to $18.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. Jefferies Financial Group upped their price objective on KeyCorp from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. JPMorgan Chase & Co. lifted their target price on KeyCorp from $16.00 to $18.00 and gave the company a “neutral” rating in a research note on Thursday, April 4th. Royal Bank of Canada increased their price target on shares of KeyCorp from $15.00 to $16.00 and gave the company an “outperform” rating in a research report on Friday, April 19th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of KeyCorp from $16.00 to $18.00 and gave the stock an “outperform” rating in a research report on Friday, April 5th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, KeyCorp has a consensus rating of “Moderate Buy” and a consensus target price 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.