KeyCorp (KEY) Holdings Decreased by JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered its holdings in KeyCorp (NYSE:KEY) by 3.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 26,919,742 shares of the financial services provider’s stock after selling 928,448 shares during the period. JPMorgan Chase & Co. owned approximately 2.54% of KeyCorp worth $526,281,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in KEY. We Are One Seven LLC purchased a new stake in shares of KeyCorp in the 4th quarter valued at about $183,000. Meridian Wealth Management LLC purchased a new stake in shares of KeyCorp in the 1st quarter valued at about $196,000. Whittier Trust Co. raised its holdings in shares of KeyCorp by 881.1% in the 1st quarter. Whittier Trust Co. now owns 11,135 shares of the financial services provider’s stock valued at $218,000 after acquiring an additional 10,000 shares in the last quarter. Jump Trading LLC purchased a new stake in shares of KeyCorp in the 4th quarter valued at about $219,000. Finally, CIBC World Markets Inc. purchased a new stake in shares of KeyCorp in the 4th quarter valued at about $224,000. 80.06% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE KEY opened at $20.04 on Friday. The stock has a market cap of $21.70 billion, a P/E ratio of 14.29, a PEG ratio of 1.27 and a beta of 1.05. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.87 and a current ratio of 0.89. KeyCorp has a 1-year low of $16.28 and a 1-year high of $22.40.

KeyCorp (NYSE:KEY) last posted its quarterly earnings results on Thursday, April 19th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.38. KeyCorp had a return on equity of 11.03% and a net margin of 19.32%. The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.56 billion. During the same period last year, the company earned $0.32 EPS. KeyCorp’s revenue for the quarter was up 3.1% compared to the same quarter last year. equities analysts expect that KeyCorp will post 1.7 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 15th. Investors of record on Tuesday, May 29th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 2.40%. This is a positive change from KeyCorp’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend is Friday, May 25th. KeyCorp’s dividend payout ratio (DPR) is presently 30.88%.

In related news, insider Edward J. Burke sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 8th. The stock was sold at an average price of $19.83, for a total transaction of $198,300.00. Following the transaction, the insider now directly owns 126,526 shares in the company, valued at approximately $2,509,010.58. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.65% of the stock is owned by company insiders.

Several analysts have weighed in on KEY shares. Susquehanna Bancshares raised KeyCorp from a “neutral” rating to a “positive” rating and raised their price target for the company from $24.00 to $25.00 in a report on Tuesday, April 24th. Zacks Investment Research cut KeyCorp from a “buy” rating to a “hold” rating in a report on Tuesday, February 13th. BMO Capital Markets lowered their price target on KeyCorp from $25.00 to $24.00 and set an “outperform” rating on the stock in a report on Friday, April 20th. UBS raised KeyCorp from a “neutral” rating to a “positive” rating in a report on Tuesday, April 24th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $23.00 price target on shares of KeyCorp in a report on Thursday, April 5th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $22.45.

KeyCorp Company Profile

KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking services in the United States. The company's Key Community Bank segment offers various deposit and investment products, personal finance services, residential mortgages, home equity loans, credit cards, and installment loans, as well as personal property and casualty insurance, such as home, auto, renters, watercraft, and umbrella insurance for individuals.

Institutional Ownership by Quarter for KeyCorp (NYSE:KEY)

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