ETRADE Capital Management LLC Grows Stock Position in KeyCorp (NYSE:KEY)

ETRADE Capital Management LLC lifted its stake in KeyCorp (NYSE:KEY) by 641.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 86,139 shares of the financial services provider’s stock after buying an additional 74,522 shares during the period. ETRADE Capital Management LLC’s holdings in KeyCorp were worth $893,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in KEY. Norges Bank purchased a new position in shares of KeyCorp in the fourth quarter worth about $187,256,000. Prudential PLC purchased a new position in shares of KeyCorp in the first quarter worth about $48,023,000. Miller Howard Investments Inc. NY purchased a new position in shares of KeyCorp in the first quarter worth about $30,886,000. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of KeyCorp by 57.0% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,217,609 shares of the financial services provider’s stock worth $64,477,000 after purchasing an additional 2,258,410 shares during the last quarter. Finally, FMR LLC grew its stake in shares of KeyCorp by 11.0% in the fourth quarter. FMR LLC now owns 19,726,754 shares of the financial services provider’s stock worth $399,269,000 after purchasing an additional 1,959,420 shares during the last quarter. Hedge funds and other institutional investors own 80.63% of the company’s stock.

Several research firms recently issued reports on KEY. DA Davidson cut KeyCorp from a “buy” rating to a “neutral” rating and set a $10.00 target price on the stock. in a research note on Monday, March 23rd. Bank of America cut KeyCorp from a “buy” rating to a “neutral” rating and set a $10.00 target price on the stock. in a research note on Friday, April 17th. Morgan Stanley raised their target price on KeyCorp from $13.00 to $14.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 6th. Stifel Nicolaus cut their target price on KeyCorp from $29.00 to $27.00 and set a “buy” rating on the stock in a research note on Thursday, May 14th. Finally, Wells Fargo & Co cut their target price on KeyCorp from $12.00 to $11.00 and set an “underweight” rating on the stock in a research note on Monday, April 6th. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $19.50.

KEY stock opened at $10.71 on Friday. The firm has a 50 day moving average price of $10.68 and a 200-day moving average price of $16.14. KeyCorp has a 52-week low of $7.45 and a 52-week high of $20.52. The firm has a market capitalization of $10.45 billion, a price-to-earnings ratio of 7.05, a PEG ratio of 2.74 and a beta of 1.52. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.91 and a current ratio of 0.93.

KeyCorp (NYSE:KEY) last released its earnings results on Thursday, April 16th. The financial services provider reported $0.12 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.06). KeyCorp had a net margin of 18.85% and a return on equity of 10.43%. The business had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.55 billion. During the same quarter in the previous year, the business posted $0.38 earnings per share. KeyCorp’s revenue for the quarter was down 3.6% on a year-over-year basis. As a group, sell-side analysts forecast that KeyCorp will post 0.69 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Tuesday, June 2nd will be issued a dividend of $0.185 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $0.74 annualized dividend and a dividend yield of 6.91%. KeyCorp’s payout ratio is 41.11%.

In other news, Director Ruth Ann M. Gillis acquired 4,485 shares of the firm’s stock in a transaction that occurred on Monday, April 20th. The stock was bought at an average cost of $11.10 per share, for a total transaction of $49,783.50. Following the acquisition, the director now directly owns 19,911 shares in the company, valued at $221,012.10. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Christopher M. Gorman bought 100,000 shares of the firm’s stock in a transaction on Friday, April 17th. The shares were bought at an average price of $10.36 per share, with a total value of $1,036,000.00. The disclosure for this purchase can be found here. 0.70% of the stock is owned by insiders.

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.

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Institutional Ownership by Quarter for KeyCorp (NYSE:KEY)

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