Mirae Asset Global Investments Co. Ltd. Has $1.94 Million Position in KeyCorp (NYSE:KEY)

Mirae Asset Global Investments Co. Ltd. lowered its position in KeyCorp (NYSE:KEY - Free Report) by 84.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 122,925 shares of the financial services provider's stock after selling 659,668 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in KeyCorp were worth $1,942,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC acquired a new stake in KeyCorp in the 4th quarter valued at about $476,000. Proficio Capital Partners LLC acquired a new stake in shares of KeyCorp in the fourth quarter valued at approximately $1,519,000. QRG Capital Management Inc. bought a new position in shares of KeyCorp during the 4th quarter worth approximately $203,000. Mutual of America Capital Management LLC increased its holdings in shares of KeyCorp by 0.9% during the 4th quarter. Mutual of America Capital Management LLC now owns 159,496 shares of the financial services provider's stock worth $2,734,000 after acquiring an additional 1,448 shares during the last quarter. Finally, Metis Global Partners LLC raised its stake in KeyCorp by 8.2% in the 4th quarter. Metis Global Partners LLC now owns 32,447 shares of the financial services provider's stock valued at $556,000 after acquiring an additional 2,463 shares during the period. Institutional investors and hedge funds own 79.69% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Keefe, Bruyette & Woods reduced their price objective on shares of KeyCorp from $20.00 to $18.00 and set an "outperform" rating for the company in a research report on Monday, April 21st. TD Cowen initiated coverage on shares of KeyCorp in a research note on Thursday, May 15th. They issued a "hold" rating and a $18.00 price target on the stock. Bank of America upped their target price on KeyCorp from $18.00 to $20.00 and gave the company a "buy" rating in a research report on Monday, June 16th. Baird R W cut KeyCorp from a "strong-buy" rating to a "hold" rating in a report on Wednesday. Finally, Royal Bank Of Canada restated an "outperform" rating on shares of KeyCorp in a research note on Thursday, April 17th. Thirteen research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $18.97.

KeyCorp Price Performance

KEY traded up $0.26 on Friday, hitting $18.46. 13,695,000 shares of the stock were exchanged, compared to its average volume of 13,073,208. The firm has a market capitalization of $20.23 billion, a price-to-earnings ratio of -108.56, a PEG ratio of 0.68 and a beta of 1.11. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.84 and a quick ratio of 0.83. KeyCorp has a 12 month low of $12.73 and a 12 month high of $20.04. The business has a 50-day moving average of $16.10 and a two-hundred day moving average of $16.32.

KeyCorp (NYSE:KEY - Get Free Report) last issued its quarterly earnings results on Thursday, April 17th. The financial services provider reported $0.33 earnings per share for the quarter, topping analysts' consensus estimates of $0.32 by $0.01. The company had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.77 billion. KeyCorp had a negative net margin of 0.12% and a positive return on equity of 9.43%. During the same quarter in the prior year, the firm posted $0.20 EPS. Sell-side analysts forecast that KeyCorp will post 1.5 EPS for the current fiscal year.

KeyCorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Tuesday, May 27th were issued a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.44%. The ex-dividend date of this dividend was Tuesday, May 27th. KeyCorp's dividend payout ratio is presently -482.35%.

KeyCorp declared that its Board of Directors has approved a stock buyback plan on Thursday, March 13th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board of directors believes its shares are undervalued.

Insider Activity

In other KeyCorp news, Director Carlton L. Highsmith sold 5,000 shares of the business's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $16.60, for a total transaction of $83,000.00. Following the completion of the transaction, the director owned 37,177 shares of the company's stock, valued at approximately $617,138.20. The trade was a 11.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Amy G. Brady sold 19,000 shares of the stock in a transaction dated Thursday, June 12th. The stock was 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. This trade represents a 18.71% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.52% of the company's stock.

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.