AustralianSuper Pty Ltd Has $7.10 Million Stock Holdings in KeyCorp (NYSE:KEY)

AustralianSuper Pty Ltd lifted its position in KeyCorp (NYSE:KEY) by 7.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 499,350 shares of the financial services provider’s stock after buying an additional 35,472 shares during the quarter. AustralianSuper Pty Ltd’s holdings in KeyCorp were worth $7,096,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Atomi Financial Group Inc. boosted its holdings in KeyCorp by 14.5% during the second quarter. Atomi Financial Group Inc. now owns 33,978 shares of the financial services provider’s stock valued at $483,000 after acquiring an additional 4,302 shares during the period. Summit Securities Group LLC increased its position in KeyCorp by 51.8% during the second quarter. Summit Securities Group LLC now owns 70,900 shares of the financial services provider’s stock worth $1,007,000 after acquiring an additional 24,200 shares during the period. Signature Estate & Investment Advisors LLC acquired a new position in KeyCorp during the 2nd quarter valued at $325,000. Raymond James Trust N.A. boosted its holdings in KeyCorp by 2.5% in the 2nd quarter. Raymond James Trust N.A. now owns 30,155 shares of the financial services provider’s stock valued at $429,000 after purchasing an additional 724 shares during the period. Finally, Ceredex Value Advisors LLC grew its position in KeyCorp by 112.4% in the 2nd quarter. Ceredex Value Advisors LLC now owns 6,647,393 shares of the financial services provider’s stock worth $94,459,000 after purchasing an additional 3,517,755 shares during the last quarter. 79.69% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Carlton L. Highsmith sold 10,000 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $16.21, for a total transaction of $162,100.00. Following the sale, the director now owns 46,864 shares in the company, valued at approximately $759,665.44. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the company. Evercore ISI reduced their price objective on KeyCorp from $17.50 to $16.50 and set an “outperform” rating for the company in a research report on Tuesday, June 25th. Morgan Stanley lifted their price target on shares of KeyCorp from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 14th. Royal Bank of Canada restated an “outperform” rating and issued a $17.00 price objective on shares of KeyCorp in a research note on Tuesday, August 13th. JPMorgan Chase & Co. lowered their price objective on KeyCorp from $17.50 to $16.50 and set a “neutral” rating on the stock in a research note on Thursday, June 27th. Finally, UBS Group cut KeyCorp from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $16.00 to $15.00 in a report on Monday, July 8th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, KeyCorp currently has an average rating of “Moderate Buy” and a consensus target price of $16.65.

KeyCorp Stock Performance

KeyCorp stock traded down $0.07 during mid-day trading on Tuesday, reaching $16.67. The company’s stock had a trading volume of 10,907,439 shares, compared to its average volume of 15,100,467. KeyCorp has a 12-month low of $9.50 and a 12-month high of $17.20. The firm’s fifty day moving average price is $15.20 and its two-hundred day moving average price is $14.81. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market capitalization of $15.72 billion, a P/E ratio of 21.10, a PEG ratio of 0.91 and a beta of 1.26.

KeyCorp (NYSE:KEY) last released its quarterly earnings data on Thursday, July 18th. The financial services provider reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. KeyCorp had a net margin of 7.35% and a return on equity of 8.64%. The company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same period last year, the business earned $0.27 earnings per share. KeyCorp’s revenue was down 4.3% compared to the same quarter last year. Sell-side analysts predict that KeyCorp will post 1.09 EPS for the current fiscal year.

KeyCorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Tuesday, August 27th will be given a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 4.92%. The ex-dividend date is Tuesday, August 27th. KeyCorp’s payout ratio is 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.