Fjarde AP Fonden Fourth Swedish National Pension Fund Has $1.91 Million Stock Position in KeyCorp $KEY

Key Points

• The Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its holdings in KeyCorp by 19.9%, owning 119,113 shares valued at approximately $1.91 million after selling 29,600 shares in the first quarter.
• KeyCorp recently announced a quarterly dividend of $0.205 to be paid on September 15, representing a 4.5% dividend yield.
• The company reported earnings of $0.35 per share for the last quarter, exceeding analysts' expectations and marking a 20.6% year-over-year revenue increase.

Fjarde AP Fonden Fourth Swedish National Pension Fund lowered its stake in shares of KeyCorp (NYSE:KEY - Free Report) by 19.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 119,113 shares of the financial services provider's stock after selling 29,600 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in KeyCorp were worth $1,905,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in shares of KeyCorp by 7.2% in the 1st quarter. Vanguard Group Inc. now owns 125,345,385 shares of the financial services provider's stock valued at $2,004,273,000 after acquiring an additional 8,412,625 shares during the period. Freestone Grove Partners LP acquired a new stake in shares of KeyCorp in the 4th quarter valued at approximately $63,540,000. Invesco Ltd. raised its position in shares of KeyCorp by 19.5% in the 1st quarter. Invesco Ltd. now owns 20,623,929 shares of the financial services provider's stock valued at $329,777,000 after acquiring an additional 3,363,421 shares during the period. Nuveen LLC acquired a new stake in shares of KeyCorp in the 1st quarter valued at approximately $44,889,000. Finally, Price T Rowe Associates Inc. MD raised its position in shares of KeyCorp by 4.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 36,302,732 shares of the financial services provider's stock valued at $622,229,000 after acquiring an additional 1,645,296 shares during the period. Institutional investors own 79.69% of the company's stock.

Insiders Place Their Bets

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

KeyCorp Stock Up 4.8%

Shares of NYSE:KEY traded up $0.8790 during midday trading on Friday, hitting $19.0290. The stock had a trading volume of 28,535,868 shares, compared to its average volume of 17,336,672. KeyCorp has a 12 month low of $12.73 and a 12 month high of $20.04. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.71. The business's 50-day simple moving average is $17.75 and its 200-day simple moving average is $16.50. The company has a market cap of $20.87 billion, a P/E ratio of -272.21, a PEG ratio of 0.64 and a beta of 1.13.

KeyCorp (NYSE:KEY - Get Free Report) last released its earnings results on Tuesday, July 22nd. The financial services provider reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.01. KeyCorp had a net margin of 1.49% and a return on equity of 9.65%. The business had revenue of $1.84 billion during the quarter, compared to analysts' expectations of $1.81 billion. During the same period last year, the business earned $0.25 earnings per share. The firm's revenue was up 20.6% on a year-over-year basis. On average, sell-side analysts forecast that KeyCorp will post 1.5 earnings per share for the current fiscal year.

KeyCorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors 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%.

Analyst Ratings Changes

A number of analysts recently weighed in on KEY shares. Wells Fargo & Company increased their price target on shares of KeyCorp from $18.00 to $20.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. Jefferies Financial Group started coverage on shares of KeyCorp in a report on Wednesday, May 21st. They set a "hold" rating and a $18.00 target price on the stock. Evercore ISI set a $17.00 target price on shares of KeyCorp in a report on Monday, April 28th. Robert W. Baird downgraded shares of KeyCorp from an "outperform" rating to a "neutral" rating and set a $18.00 target price on the stock. in a report on Wednesday, July 2nd. Finally, Bank of America raised their target price on shares of KeyCorp from $18.00 to $20.00 and gave the stock a "buy" rating in a report on Monday, June 16th. Ten equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat.com, KeyCorp has a consensus rating of "Hold" and an average price target of $19.39.

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.