TD Asset Management Inc Has $6 Million Stake in KeyCorp (NYSE:KEY)

Key Points

• TD Asset Management Inc has increased its stake in KeyCorp by 4.3% during the first quarter, now owning 375,395 shares valued at approximately $6 million.
• Insider activity included notable sales, with Director Carlton L. Highsmith selling 5,000 shares and insider Amy G. Brady selling 19,000 shares in recent months, indicating a shift in ownership dynamics.
• KeyCorp plans to pay a quarterly dividend of $0.205 on September 15, reflecting an annualized yield of 4.7% despite a significant payouts ratio of -1,171.43%.

TD Asset Management Inc boosted its holdings in KeyCorp (NYSE:KEY - Free Report) by 4.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 375,395 shares of the financial services provider's stock after purchasing an additional 15,563 shares during the period. TD Asset Management Inc's holdings in KeyCorp were worth $6,003,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. FMR LLC lifted its position in shares of KeyCorp by 7.1% during the fourth quarter. FMR LLC now owns 44,431,526 shares of the financial services provider's stock worth $761,556,000 after purchasing an additional 2,938,405 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in KeyCorp by 4.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 36,302,732 shares of the financial services provider's stock worth $622,229,000 after buying an additional 1,645,296 shares during the last quarter. Fuller & Thaler Asset Management Inc. lifted its holdings in KeyCorp by 4.1% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 27,183,748 shares of the financial services provider's stock worth $465,929,000 after buying an additional 1,062,615 shares during the last quarter. Geode Capital Management LLC lifted its holdings in KeyCorp by 7.6% during the 4th quarter. Geode Capital Management LLC now owns 23,349,979 shares of the financial services provider's stock worth $399,169,000 after buying an additional 1,647,332 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in KeyCorp by 2.9% during the fourth quarter. Invesco Ltd. now owns 17,260,508 shares of the financial services provider's stock worth $295,845,000 after purchasing an additional 479,604 shares during the last quarter. 79.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

KEY has been the topic of a number of recent research reports. Citigroup restated a "neutral" rating and issued a $20.00 price target (up from $19.00) on shares of KeyCorp in a research report on Thursday, July 24th. Royal Bank Of Canada reissued an "outperform" rating on shares of KeyCorp in a report on Thursday, April 17th. UBS Group raised shares of KeyCorp from a "neutral" rating to a "buy" rating and raised their target price for the stock from $16.00 to $22.00 in a report on Tuesday, July 8th. TD Cowen began coverage on shares of KeyCorp in a report on Thursday, May 15th. They issued a "hold" rating and a $18.00 target price on the stock. Finally, Morgan Stanley reissued an "equal weight" rating on shares of KeyCorp in a report on Thursday, April 17th. Twelve investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $19.39.

KeyCorp Stock Up 1.0%

Shares of KEY traded up $0.18 during trading hours on Monday, reaching $17.83. The company's stock had a trading volume of 34,804,241 shares, compared to its average volume of 31,114,096. The firm has a market cap of $19.54 billion, a price-to-earnings ratio of 12.98, a P/E/G ratio of 0.62 and a beta of 1.13. KeyCorp has a 1-year low of $12.73 and a 1-year 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 company has a 50 day moving average of $17.22 and a two-hundred day moving average of $16.47.

KeyCorp (NYSE:KEY - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $0.35 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $1.81 billion. During the same period in the prior year, the business posted $0.25 earnings per share. KeyCorp's revenue for the quarter was up 20.6% compared to the same quarter last year. As a group, research analysts predict that KeyCorp will post 1.5 EPS for the current fiscal year.

KeyCorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be given a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 4.6%. The ex-dividend date of this dividend is Tuesday, September 2nd. KeyCorp's dividend payout ratio (DPR) is currently -1,171.43%.

Insiders Place Their Bets

In other news, insider Amy G. Brady sold 19,000 shares of KeyCorp stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $16.09, for a total transaction of $305,710.00. Following the sale, the insider directly owned 82,523 shares in the company, valued at approximately $1,327,795.07. The trade was a 18.71% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Carlton L. Highsmith sold 5,000 shares of the business's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $16.60, for a total value of $83,000.00. Following the completion of the sale, the director directly owned 37,177 shares in the company, valued at approximately $617,138.20. This represents a 11.85% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 153,149 shares of company stock valued at $2,821,230. 0.52% of the stock is owned by company insiders.

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.