Los Angeles Capital Management LLC Decreases Stake in KeyCorp (NYSE:KEY)

Los Angeles Capital Management LLC cut its position in KeyCorp (NYSE:KEY - Free Report) by 77.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 367,735 shares of the financial services provider's stock after selling 1,256,139 shares during the period. Los Angeles Capital Management LLC's holdings in KeyCorp were worth $5,880,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of KEY. Norges Bank purchased a new stake in shares of KeyCorp in the 4th quarter valued at approximately $153,235,000. Vanguard Group Inc. increased its position in shares of KeyCorp by 7.1% in the 4th quarter. Vanguard Group Inc. now owns 116,932,760 shares of the financial services provider's stock valued at $2,004,228,000 after purchasing an additional 7,754,576 shares during the last quarter. Freestone Grove Partners LP purchased a new stake in shares of KeyCorp in the 4th quarter valued at approximately $63,540,000. FMR LLC increased its position in shares of KeyCorp by 7.1% in the 4th quarter. FMR LLC now owns 44,431,526 shares of the financial services provider's stock valued at $761,556,000 after purchasing an additional 2,938,405 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of KeyCorp in the 4th quarter valued at $42,827,000. 79.69% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at KeyCorp

In other 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 sale, the director owned 37,177 shares in the company, valued at approximately $617,138.20. The trade was a 11.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Amy G. Brady sold 19,000 shares of the stock in a transaction on 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 sale, 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 position. The disclosure for this sale can be found here. Corporate insiders own 0.52% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently commented on KEY shares. UBS Group raised shares of KeyCorp from a "neutral" rating to a "buy" rating and increased their target price for the company from $16.00 to $22.00 in a research report on Tuesday, July 8th. Jefferies Financial Group started coverage on shares of KeyCorp in a research report on Wednesday, May 21st. They set a "hold" rating and a $18.00 price objective on the stock. Bank of America raised their price objective on shares of KeyCorp from $18.00 to $20.00 and gave the stock a "buy" rating in a research report on Monday, June 16th. Evercore ISI set a $17.00 target price on shares of KeyCorp in a report on Monday, April 28th. Finally, Wall Street Zen raised shares of KeyCorp from a "sell" rating to a "hold" rating in a report on Monday, April 21st. Twelve analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $19.24.

KeyCorp Trading Down 0.2%

Shares of NYSE:KEY traded down $0.04 during trading on Friday, reaching $18.46. The stock had a trading volume of 12,569,768 shares, compared to its average volume of 15,409,496. The business has a fifty day moving average price of $16.96 and a 200-day moving average price of $16.45. 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 stock has a market cap of $20.23 billion, a P/E ratio of -263.64, a PEG ratio of 0.66 and a beta of 1.11. KeyCorp has a fifty-two week low of $12.73 and a fifty-two week high of $20.04.

KeyCorp (NYSE:KEY - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $0.35 earnings per share for the quarter, beating analysts' consensus estimates 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 analyst estimates of $1.81 billion. During the same quarter in the previous year, the business posted $0.25 earnings per share. The company's revenue was up 20.6% on a year-over-year basis. As a group, analysts anticipate that KeyCorp will post 1.5 earnings per share for the current fiscal year.

KeyCorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be given a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 4.44%. The ex-dividend date of this dividend is Tuesday, September 2nd. KeyCorp's dividend payout ratio (DPR) is -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.