O Shaughnessy Asset Management LLC Boosts Holdings in KeyCorp (NYSE:KEY)

O Shaughnessy Asset Management LLC raised its holdings in KeyCorp (NYSE:KEY) by 368.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 214,145 shares of the financial services provider’s stock after purchasing an additional 168,411 shares during the period. O Shaughnessy Asset Management LLC’s holdings in KeyCorp were worth $3,386,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Ontario Teachers Pension Plan Board grew its holdings in KeyCorp by 8.8% during the 1st quarter. Ontario Teachers Pension Plan Board now owns 21,690,319 shares of the financial services provider’s stock valued at $342,924,000 after buying an additional 1,748,633 shares during the last quarter. Westfield Capital Management Co. LP acquired a new stake in shares of KeyCorp during the first quarter valued at $42,857,000. Intech Investment Management LLC purchased a new stake in KeyCorp during the 1st quarter worth about $207,000. Picton Mahoney Asset Management raised its stake in KeyCorp by 2.9% in the 1st quarter. Picton Mahoney Asset Management now owns 575,401 shares of the financial services provider’s stock valued at $9,098,000 after purchasing an additional 16,415 shares during the last quarter. Finally, HBK Sorce Advisory LLC purchased a new position in KeyCorp in the 1st quarter valued at about $167,000. 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 the stock. JPMorgan Chase & Co. lowered their price target on shares of KeyCorp from $17.50 to $16.50 and set a “neutral” rating for the company in a report on Thursday, June 27th. Royal Bank of Canada lifted their target price on shares of KeyCorp from $16.00 to $17.00 and gave the stock an “outperform” rating in a research note on Friday, July 19th. DA Davidson increased their price target on KeyCorp from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. Wells Fargo & Company lifted their price objective on KeyCorp from $16.00 to $18.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Finally, Wedbush increased their target price on KeyCorp from $15.00 to $16.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $16.06.

KeyCorp Trading Down 0.4 %

KEY traded down $0.07 during trading on Wednesday, hitting $15.79. 13,538,654 shares of the company’s stock were exchanged, compared to its average volume of 14,909,701. The stock has a 50 day moving average price of $14.42 and a 200 day moving average price of $14.54. KeyCorp has a 1 year low of $9.50 and a 1 year high of $16.47. 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 firm has a market cap of $14.89 billion, a P/E ratio of 20.37, a price-to-earnings-growth ratio of 0.85 and a beta of 1.26.

KeyCorp (NYSE:KEY) last announced its quarterly earnings results on Thursday, July 18th. The financial services provider reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. The firm had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.52 billion. KeyCorp had a net margin of 7.35% and a return on equity of 8.64%. The firm’s revenue was down 4.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.27 EPS. As a group, analysts expect that KeyCorp will post 1.12 EPS for the current fiscal year.

KeyCorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Tuesday, August 27th will be given a dividend of $0.205 per share. The ex-dividend date of this dividend is Tuesday, August 27th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 5.19%. KeyCorp’s payout ratio is currently 103.80%.

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.