UBS Asset Management Americas Inc. Sells 1,097,669 Shares of KeyCorp (KEY)

UBS Asset Management Americas Inc. cut its holdings in shares of KeyCorp (NYSE:KEY) by 23.7% during the fourth quarter, HoldingsChannel reports. The firm owned 3,542,485 shares of the financial services provider’s stock after selling 1,097,669 shares during the period. UBS Asset Management Americas Inc.’s holdings in KeyCorp were worth $71,452,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in KEY. Ameritas Investment Partners Inc. boosted its stake in shares of KeyCorp by 0.9% during the second quarter. Ameritas Investment Partners Inc. now owns 24,886 shares of the financial services provider’s stock valued at $466,000 after purchasing an additional 216 shares in the last quarter. Eqis Capital Management Inc. boosted its stake in shares of KeyCorp by 31.0% during the third quarter. Eqis Capital Management Inc. now owns 15,199 shares of the financial services provider’s stock valued at $286,000 after purchasing an additional 3,600 shares in the last quarter. Shell Asset Management Co. boosted its stake in KeyCorp by 122.3% in the third quarter. Shell Asset Management Co. now owns 141,462 shares of the financial services provider’s stock valued at $1,886,000 after acquiring an additional 77,830 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in KeyCorp in the third quarter valued at approximately $919,000. Finally, Meeder Asset Management Inc. boosted its stake in KeyCorp by 78.0% in the third quarter. Meeder Asset Management Inc. now owns 56,046 shares of the financial services provider’s stock valued at $1,055,000 after acquiring an additional 24,554 shares in the last quarter. Hedge funds and other institutional investors own 81.08% of the company’s stock.

KeyCorp (NYSE KEY) opened at $20.53 on Friday. The stock has a market cap of $22,504.22, a price-to-earnings ratio of 18.33, a price-to-earnings-growth ratio of 1.33 and a beta of 1.04. KeyCorp has a fifty-two week low of $16.28 and a fifty-two week high of $22.22. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 1.02.

KeyCorp (NYSE:KEY) last posted its quarterly earnings results on Thursday, January 18th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.36. The business had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.58 billion. KeyCorp had a net margin of 18.06% and a return on equity of 10.66%. During the same quarter last year, the company posted $0.31 earnings per share. sell-side analysts expect that KeyCorp will post 1.67 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Tuesday, February 27th will be issued a $0.105 dividend. The ex-dividend date is Monday, February 26th. This represents a $0.42 dividend on an annualized basis and a dividend yield of 2.05%. KeyCorp’s dividend payout ratio is currently 37.50%.

In other KeyCorp news, insider Christopher M. Gorman sold 56,038 shares of the firm’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $20.97, for a total value of $1,175,116.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Craig A. Buffie sold 11,819 shares of the firm’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $21.21, for a total transaction of $250,680.99. Following the transaction, the insider now directly owns 51,791 shares of the company’s stock, valued at approximately $1,098,487.11. The disclosure for this sale can be found here. Company insiders own 0.65% of the company’s stock.

Several brokerages have weighed in on KEY. CIBC restated a “buy” rating on shares of KeyCorp in a research note on Friday, December 8th. Stephens upgraded shares of KeyCorp from an “equal weight” rating to an “overweight” rating and set a $23.00 target price for the company in a research note on Thursday, December 14th. Vining Sparks restated a “buy” rating and issued a $25.00 target price on shares of KeyCorp in a research note on Thursday, January 18th. Zacks Investment Research upgraded shares of KeyCorp from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a research note on Tuesday, December 26th. Finally, Oppenheimer restated a “hold” rating on shares of KeyCorp in a research note on Monday, January 22nd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and eighteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $22.07.

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KeyCorp Profile

KeyCorp is a bank holding company. The Company is a bank-based financial services company. The Company operates through its subsidiary, KeyBank National Association (KeyBank), which is engaged in providing banking services. Through KeyBank and other subsidiaries, it provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, and investment banking products and services to individual, corporate and institutional clients.

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Institutional Ownership by Quarter for KeyCorp (NYSE:KEY)

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