Nykredit A S Invests $3.79 Million in KeyCorp $KEY

Nykredit A S purchased a new stake in shares of KeyCorp (NYSE:KEY - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 164,370 shares of the financial services provider's stock, valued at approximately $3,789,000.

Several other institutional investors also recently bought and sold shares of the business. Bank of Nova Scotia purchased a new position in shares of KeyCorp in the 2nd quarter valued at $3,636,436,000. BlackRock Inc. acquired a new stake in KeyCorp in the 2nd quarter valued at $2,039,113,000. Deutsche Bank AG acquired a new stake in KeyCorp in the 2nd quarter valued at $380,244,000. Norges Bank purchased a new position in KeyCorp in the fourth quarter valued at about $262,688,000. Finally, North Reef Capital Management LP purchased a new position in KeyCorp in the first quarter valued at about $253,632,000. 79.69% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

KEY has been the subject of several analyst reports. Truist Financial upped their target price on KeyCorp from $23.00 to $24.00 and gave the stock a "hold" rating in a research report on Wednesday, June 24th. Argus upgraded KeyCorp to a "strong-buy" rating in a report on Wednesday, July 29th. Weiss Ratings restated a "buy (b)" rating on shares of KeyCorp in a report on Friday, August 7th. Keefe, Bruyette & Woods upped their target price on shares of KeyCorp from $25.00 to $26.00 and gave the company an "outperform" rating in a research note on Wednesday, July 22nd. Finally, Stephens reaffirmed an "overweight" rating and set a $26.00 price target on shares of KeyCorp in a research note on Tuesday, September 15th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $49.14.

KeyCorp Price Performance

Shares of KEY opened at $20.47 on Wednesday. KeyCorp has a 52 week low of $16.47 and a 52 week high of $24.07. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.63. The firm has a market cap of $21.85 billion, a price-to-earnings ratio of 11.90, a PEG ratio of 0.79 and a beta of 1.02. The stock has a 50 day moving average of $22.29 and a 200-day moving average of $21.76.

KeyCorp (NYSE:KEY - Get Free Report) last released its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $0.44 EPS for the quarter, topping analysts' consensus estimates of $0.42 by $0.02. KeyCorp had a net margin of 17.83% and a return on equity of 11.23%. The firm had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.97 billion. During the same quarter in the previous year, the company posted $0.35 earnings per share. The firm's revenue was up 6.7% on a year-over-year basis. As a group, analysts forecast that KeyCorp will post 1.83 EPS for the current year.

KeyCorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were issued a $0.205 dividend. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $0.82 dividend on an annualized basis and a yield of 4.0%. KeyCorp's dividend payout ratio (DPR) is currently 47.67%.

KeyCorp Profile

KeyCorp is a financial services company headquartered in Cleveland, Ohio, and the parent company of KeyBank National Association. Founded in 1825, KeyBank is one of the largest regional banks in the United States and provides banking and financial services to individuals, businesses, institutions and government entities.

KeyBank's consumer banking activities include checking and savings accounts, residential mortgages, home equity lending, personal loans, credit cards and financial planning.

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