Candriam S.C.A. Has $441,000 Position in KeyCorp $KEY

Key Points

• Candriam S.C.A. reduced its holdings in KeyCorp by 60.7%, selling 42,576 shares and ending the first quarter with 27,594 shares valued at approximately $441,000.
• Several analysts set new price targets for KeyCorp, with TD Cowen and Jefferies Financial Group maintaining a "hold" rating at $18.00, while UBS Group upgraded their rating to "buy" and increased the target price from $16.00 to $22.00.
• KeyCorp reported earnings of $0.35 per share, beating estimates, with revenue of $1.84 billion, showing a year-over-year increase of 20.6%.

Candriam S.C.A. reduced its holdings in shares of KeyCorp (NYSE:KEY - Free Report) by 60.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 27,594 shares of the financial services provider's stock after selling 42,576 shares during the quarter. Candriam S.C.A.'s holdings in KeyCorp were worth $441,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Fourth Dimension Wealth LLC purchased a new position in KeyCorp in the fourth quarter valued at approximately $28,000. Zions Bancorporation National Association UT acquired a new position in shares of KeyCorp in the 1st quarter valued at $28,000. Allworth Financial LP grew its position in shares of KeyCorp by 246.9% in the 1st quarter. Allworth Financial LP now owns 2,168 shares of the financial services provider's stock valued at $32,000 after buying an additional 1,543 shares during the last quarter. FSC Wealth Advisors LLC acquired a new stake in KeyCorp during the 1st quarter worth $34,000. Finally, NBC Securities Inc. raised its stake in KeyCorp by 123,900.0% during the 1st quarter. NBC Securities Inc. now owns 2,480 shares of the financial services provider's stock worth $39,000 after acquiring an additional 2,478 shares in the last quarter. Institutional investors and hedge funds own 79.69% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently commented on KEY. Wells Fargo & Company lifted their target price on shares of KeyCorp from $18.00 to $20.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Jefferies Financial Group assumed coverage on shares of KeyCorp in a research note on Wednesday, May 21st. They issued a "hold" rating and a $18.00 price objective on the stock. Cowen started coverage on shares of KeyCorp in a report on Wednesday, May 14th. They issued a "hold" rating for the company. UBS Group raised KeyCorp from a "neutral" rating to a "buy" rating and raised their price target for the stock from $16.00 to $22.00 in a report on Tuesday, July 8th. Finally, Baird R W downgraded KeyCorp from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 2nd. Ten research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $19.39.

Insider Buying and Selling at KeyCorp

In other KeyCorp news, Director Trina M. Evans sold 17,000 shares of the company's stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $18.67, for a total value of $317,390.00. Following the transaction, the director owned 82,719 shares in the company, valued at approximately $1,544,363.73. This represents a 17.05% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Amy G. Brady sold 19,000 shares of the business's stock in a transaction that occurred on 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 of the company's stock, valued at approximately $1,327,795.07. The trade was a 18.71% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 148,149 shares of company stock valued at $2,738,230. Company insiders own 0.52% of the company's stock.

KeyCorp Trading Up 0.1%

Shares of KEY traded up $0.02 during trading hours on Friday, hitting $19.37. The stock had a trading volume of 16,237,733 shares, compared to its average volume of 17,575,467. The firm has a market cap of $21.24 billion, a P/E ratio of -277.07, a P/E/G ratio of 0.69 and a beta of 1.13. KeyCorp has a 12-month low of $12.73 and a 12-month high of $20.04. 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's fifty day simple moving average is $18.09 and its 200 day simple moving average is $16.55.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.34 by $0.01. KeyCorp had a return on equity of 9.65% and a net margin of 1.49%.The business had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.81 billion. During the same quarter last year, the firm earned $0.25 earnings per share. The company's revenue for the quarter was up 20.6% compared to the same quarter last year. Equities research analysts forecast that KeyCorp will post 1.5 EPS for the current fiscal year.

KeyCorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be given a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date is Tuesday, September 2nd. KeyCorp's payout ratio is -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.