B. Metzler seel. Sohn & Co. AG Buys 52,981 Shares of KeyCorp $KEY

B. Metzler seel. Sohn & Co. AG increased its stake in KeyCorp (NYSE:KEY - Free Report) by 69.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 129,751 shares of the financial services provider's stock after purchasing an additional 52,981 shares during the quarter. B. Metzler seel. Sohn & Co. AG's holdings in KeyCorp were worth $2,991,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Proficio Capital Partners LLC bought a new stake in KeyCorp in the 2nd quarter valued at $253,000. BTG Pactual Asset Management US LLC bought a new stake in KeyCorp in the 2nd quarter worth approximately $434,000. Headlands Technologies LLC purchased a new stake in shares of KeyCorp during the 2nd quarter worth approximately $981,000. Quantitative Investment Management LLC bought a new position in shares of KeyCorp during the 2nd quarter valued at approximately $2,337,000. Finally, Susquehanna Fundamental Investments LLC boosted its position in shares of KeyCorp by 16.3% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 1,810,968 shares of the financial services provider's stock valued at $41,743,000 after acquiring an additional 254,223 shares during the last quarter. Institutional investors own 79.69% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on KEY shares. Royal Bank Of Canada increased their price target on shares of KeyCorp from $24.00 to $25.00 and gave the company an "outperform" rating in a report on Wednesday, July 22nd. Argus raised KeyCorp to a "strong-buy" rating in a research report on Wednesday, July 29th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of KeyCorp in a research note on Friday, August 7th. Morgan Stanley raised their target price on shares of KeyCorp from $24.00 to $25.00 and gave the stock an "equal weight" rating in a report on Monday, June 29th. Finally, Susquehanna increased their price objective on shares of KeyCorp from $300.00 to $415.00 and gave the stock a "positive" rating in a research report on Monday, May 18th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, KeyCorp currently has an average rating of "Moderate Buy" and a consensus target price of $49.14.

KeyCorp Stock Up 0.4%

KeyCorp stock opened at $22.20 on Friday. KeyCorp has a 1-year low of $16.47 and a 1-year high of $24.07. The business has a fifty day moving average price of $22.71 and a 200-day moving average price of $21.75. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.84 and a quick ratio of 0.83. The stock has a market capitalization of $23.69 billion, a price-to-earnings ratio of 12.91, a PEG ratio of 0.84 and a beta of 1.02.

KeyCorp (NYSE:KEY - Get Free Report) last released its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $0.44 EPS for the quarter, beating analysts' consensus estimates of $0.42 by $0.02. KeyCorp had a return on equity of 11.23% and a net margin of 17.83%.The company had revenue of $1.96 billion during the quarter, compared to analysts' expectations of $1.97 billion. During the same period last year, the business posted $0.35 earnings per share. The firm's revenue was up 6.7% compared to the same quarter last year. Equities research analysts forecast that KeyCorp will post 1.83 EPS for the current fiscal year.

KeyCorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be paid a dividend of $0.205 per share. The ex-dividend date is Tuesday, September 1st. This represents a $0.82 dividend on an annualized basis and a yield of 3.7%. KeyCorp's dividend payout ratio is presently 47.67%.

KeyCorp announced that its board has approved a stock buyback program on Wednesday, May 13th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the financial services provider to purchase up to 13% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's management believes its stock is undervalued.

KeyCorp Company Profile

KeyCorp is a bank holding company headquartered in Cleveland, Ohio, that operates through its primary banking subsidiary, KeyBank. It provides a broad range of banking and financial services to individual consumers, small businesses, middle-market companies and large corporations. KeyBank's offerings span traditional deposit and lending products as well as more specialized financial solutions designed for commercial and institutional clients.

The company's product and service mix includes retail banking products such as checking and savings accounts, consumer and residential mortgage lending, and auto financing.

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