3,764,450 Shares in KeyCorp $KEY Purchased by Alyeska Investment Group L.P.

Key Points

• Alyeska Investment Group L.P. has acquired 3,764,450 shares of KeyCorp, representing a new investment worth approximately $60.2 million, amounting to 0.34% of KeyCorp's shares.
• Multiple institutional investors, including Price T Rowe Associates and Vanguard Group, recently boosted their stakes in KeyCorp, indicating strong institutional interest in the financial services provider.
• KeyCorp has announced a quarterly dividend of $0.205 per share, which will yield 4.3%, while the company reported a net margin of 1.49% and a 20.6% increase in quarterly revenue from the previous year.

Alyeska Investment Group L.P. bought a new position in shares of KeyCorp (NYSE:KEY - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 3,764,450 shares of the financial services provider's stock, valued at approximately $60,194,000. Alyeska Investment Group L.P. owned about 0.34% of KeyCorp as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of KEY. AlphaCore Capital LLC lifted its position in shares of KeyCorp by 5.2% in the 1st quarter. AlphaCore Capital LLC now owns 13,238 shares of the financial services provider's stock worth $212,000 after acquiring an additional 651 shares during the period. SBI Securities Co. Ltd. raised its holdings in shares of KeyCorp by 34.0% in the 1st quarter. SBI Securities Co. Ltd. now owns 2,644 shares of the financial services provider's stock worth $42,000 after buying an additional 671 shares in the last quarter. Centaurus Financial Inc. increased its holdings in KeyCorp by 11.2% during the 4th quarter. Centaurus Financial Inc. now owns 7,218 shares of the financial services provider's stock valued at $124,000 after purchasing an additional 728 shares in the last quarter. Capital Advisors Ltd. LLC raised its position in KeyCorp by 44.1% in the 1st quarter. Capital Advisors Ltd. LLC now owns 2,504 shares of the financial services provider's stock valued at $40,000 after purchasing an additional 766 shares during the last quarter. Finally, Banco Bilbao Vizcaya Argentaria S.A. boosted its stake in KeyCorp by 3.5% in the first quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 23,732 shares of the financial services provider's stock worth $379,000 after purchasing an additional 805 shares in the last quarter. Hedge funds and other institutional investors own 79.69% of the company's stock.

Insider Buying and Selling at KeyCorp

In other KeyCorp news, Director Trina M. Evans sold 17,000 shares of KeyCorp stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $18.67, for a total value of $317,390.00. Following the sale, the director owned 82,719 shares of the company's stock, valued at $1,544,363.73. This trade represents a 17.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Amy G. Brady sold 19,000 shares of KeyCorp stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $16.09, for a total value of $305,710.00. Following the completion of the sale, the insider directly owned 82,523 shares in the company, valued at $1,327,795.07. This represents a 18.71% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 148,149 shares of company stock valued at $2,738,230 in the last 90 days. 0.52% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on KEY shares. Wells Fargo & Company boosted their price objective on KeyCorp from $18.00 to $20.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Robert W. Baird lowered KeyCorp from an "outperform" rating to a "neutral" rating and set a $18.00 price objective on the stock. in a research note on Wednesday, July 2nd. Bank of America boosted their price objective on KeyCorp from $18.00 to $20.00 and gave the stock a "buy" rating in a research note on Monday, June 16th. Baird R W lowered KeyCorp from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 2nd. Finally, UBS Group raised KeyCorp from a "neutral" rating to a "buy" rating and lifted their target price for the company from $16.00 to $22.00 in a research note on Tuesday, July 8th. Ten research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $19.39.

KeyCorp Trading Up 1.2%

KEY stock traded up $0.23 during midday trading on Monday, hitting $19.17. 53,080,320 shares of the company's stock were exchanged, compared to its average volume of 18,044,271. The stock's fifty day moving average price is $18.37 and its 200-day moving average price is $16.59. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.83 and a current ratio of 0.84. The company has a market cap of $21.01 billion, a PE ratio of -273.79, a price-to-earnings-growth ratio of 0.67 and a beta of 1.15. KeyCorp has a one year low of $12.73 and a one year high of $20.04.

KeyCorp (NYSE:KEY - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The financial services provider reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.01. KeyCorp had a return on equity of 9.65% and a net margin of 1.49%.The firm had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.81 billion. During the same period in the previous year, the company posted $0.25 earnings per share. The company's revenue for the quarter was up 20.6% on a year-over-year basis. Research analysts predict that KeyCorp will post 1.5 earnings per share for the current fiscal year.

KeyCorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be paid a $0.205 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $0.82 annualized dividend and a dividend yield of 4.3%. KeyCorp's dividend payout ratio (DPR) is currently -1,171.43%.

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.