Fuller & Thaler Asset Management Inc. Has $487.88 Million Position in KeyCorp $KEY

Key Points

• Fuller & Thaler Asset Management Inc. increased its stake in KeyCorp by 12.2% in Q1, making it the largest position in their portfolio with approximately $487.88 million in shares.
• Recent earnings data revealed that KeyCorp beat analyst expectations with a reported EPS of $0.35 and revenue of $1.84 billion, marking a 20.6% increase year-over-year.
• The company announced a quarterly dividend of $0.205 per share, representing an annualized yield of 4.5% and a notable payout ratio of -1,171.43%.

Fuller & Thaler Asset Management Inc. raised its holdings in KeyCorp (NYSE:KEY - Free Report) by 12.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,511,720 shares of the financial services provider's stock after purchasing an additional 3,327,972 shares during the period. KeyCorp makes up about 1.9% of Fuller & Thaler Asset Management Inc.'s portfolio, making the stock its largest holding. Fuller & Thaler Asset Management Inc. owned approximately 2.78% of KeyCorp worth $487,882,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP raised its stake in shares of KeyCorp by 1,142.4% during the first quarter. Wellington Management Group LLP now owns 5,001,779 shares of the financial services provider's stock valued at $79,978,000 after acquiring an additional 4,599,197 shares during the last quarter. Brooklyn Investment Group grew its holdings in shares of KeyCorp by 31.3% during the first quarter. Brooklyn Investment Group now owns 7,636 shares of the financial services provider's stock valued at $122,000 after buying an additional 1,822 shares during the last quarter. Prospector Partners LLC lifted its position in shares of KeyCorp by 20.5% during the first quarter. Prospector Partners LLC now owns 957,409 shares of the financial services provider's stock valued at $15,309,000 after purchasing an additional 162,769 shares in the last quarter. Tyler Stone Wealth Management grew its stake in KeyCorp by 0.9% in the 1st quarter. Tyler Stone Wealth Management now owns 177,861 shares of the financial services provider's stock valued at $2,844,000 after purchasing an additional 1,624 shares during the period. Finally, Ethic Inc. boosted its stake in KeyCorp by 12.7% in the first quarter. Ethic Inc. now owns 246,720 shares of the financial services provider's stock valued at $3,898,000 after acquiring an additional 27,855 shares during the last quarter. Institutional investors own 79.69% of the company's stock.

KeyCorp Stock Performance

NYSE KEY traded up $0.8430 during trading hours on Friday, hitting $18.9930. 37,059,878 shares of the company's stock traded hands, compared to its average volume of 30,055,172. The business's fifty day moving average price is $17.82 and its two-hundred day moving average price is $16.51. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $20.83 billion, a P/E ratio of -271.33, a P/E/G ratio of 0.64 and a beta of 1.13. KeyCorp has a 52 week low of $12.73 and a 52 week high of $20.04.

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

KeyCorp Announces Dividend

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 given a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date is Tuesday, September 2nd. KeyCorp's dividend payout ratio is presently -1,171.43%.

Insiders Place Their Bets

In other KeyCorp news, CEO Christopher M. Gorman sold 112,149 shares of the company's stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $18.86, for a total value of $2,115,130.14. Following the completion of the transaction, the chief executive officer directly owned 619,895 shares in the company, valued at $11,691,219.70. This represents a 15.32% 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 the company's 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 owned 82,719 shares of the company's stock, valued at approximately $1,544,363.73. This represents a 17.05% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 148,149 shares of company stock worth $2,738,230 over the last three months. 0.52% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Baird R W cut shares of KeyCorp from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 2nd. DA Davidson increased their price target on shares of KeyCorp from $19.00 to $21.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Jefferies Financial Group initiated 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. UBS Group raised shares of 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, Citigroup reaffirmed a "neutral" rating and issued a $20.00 target price (up from $19.00) on shares of KeyCorp in a research report on Thursday, July 24th. Ten investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus 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.