Bank of New York Mellon Corp Has $87.14 Million Position in KeyCorp (NYSE:KEY)

Bank of New York Mellon Corp reduced its position in shares of KeyCorp (NYSE:KEY - Free Report) by 1.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,449,634 shares of the financial services provider's stock after selling 89,891 shares during the period. Bank of New York Mellon Corp owned approximately 0.50% of KeyCorp worth $87,140,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in KeyCorp by 7.1% in the 4th quarter. Vanguard Group Inc. now owns 116,932,760 shares of the financial services provider's stock worth $2,004,228,000 after purchasing an additional 7,754,576 shares in the last quarter. FMR LLC boosted its position in KeyCorp by 7.1% during the 4th quarter. FMR LLC now owns 44,431,526 shares of the financial services provider's stock worth $761,556,000 after acquiring an additional 2,938,405 shares during the period. Price T Rowe Associates Inc. MD boosted its position in KeyCorp by 4.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 36,302,732 shares of the financial services provider's stock worth $622,229,000 after acquiring an additional 1,645,296 shares during the period. Fuller & Thaler Asset Management Inc. boosted its position in KeyCorp by 4.1% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 27,183,748 shares of the financial services provider's stock worth $465,929,000 after acquiring an additional 1,062,615 shares during the period. Finally, Geode Capital Management LLC boosted its position in KeyCorp by 7.6% during the 4th quarter. Geode Capital Management LLC now owns 23,349,979 shares of the financial services provider's stock worth $399,169,000 after acquiring an additional 1,647,332 shares during the period. 79.69% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other KeyCorp news, insider Amy G. Brady sold 19,000 shares of the company's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $16.09, for a total value of $305,710.00. Following 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Carlton L. Highsmith sold 5,000 shares of the company's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $16.60, for a total value of $83,000.00. Following the completion of the sale, the director owned 37,177 shares in the company, valued at $617,138.20. This trade represents a 11.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.52% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

KEY has been the subject of a number of research reports. Barclays decreased their price objective on KeyCorp from $21.00 to $20.00 and set an "equal weight" rating for the company in a research report on Monday, April 21st. Citigroup restated a "buy" rating on shares of KeyCorp in a research report on Thursday, April 17th. JPMorgan Chase & Co. decreased their price objective on KeyCorp from $18.50 to $16.50 and set a "neutral" rating for the company in a research report on Thursday, April 3rd. Keefe, Bruyette & Woods decreased their price objective on KeyCorp from $20.00 to $18.00 and set an "outperform" rating for the company in a research report on Monday, April 21st. Finally, Morgan Stanley restated an "equal weight" rating on shares of KeyCorp in a research report on Thursday, April 17th. Eleven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $19.18.

KeyCorp Stock Performance

NYSE KEY traded up $0.04 during trading on Monday, hitting $18.37. The company's stock had a trading volume of 17,152,874 shares, compared to its average volume of 14,340,197. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.75. The firm has a 50 day moving average price of $16.52 and a 200 day moving average price of $16.36. The firm has a market cap of $20.13 billion, a P/E ratio of -108.03, a price-to-earnings-growth ratio of 0.68 and a beta of 1.11. KeyCorp has a 52 week low of $12.73 and a 52 week high of $20.04.

KeyCorp (NYSE:KEY - Get Free Report) last released its quarterly earnings data on Thursday, April 17th. The financial services provider reported $0.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.32 by $0.01. The business had revenue of $1.77 billion for the quarter, compared to analysts' expectations of $1.77 billion. KeyCorp had a positive return on equity of 9.43% and a negative net margin of 0.12%. During the same period in the previous year, the business posted $0.20 earnings per share. Equities research analysts forecast that KeyCorp will post 1.5 earnings per share for the current fiscal year.

KeyCorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Tuesday, May 27th were given a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.47%. The ex-dividend date of this dividend was Tuesday, May 27th. KeyCorp's dividend payout ratio is presently -482.35%.

KeyCorp 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.