Mitsubishi UFJ Asset Management Co. Ltd. Raises Stock Position in KeyCorp (NYSE:KEY)

Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of KeyCorp (NYSE:KEY - Free Report) by 5.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 941,755 shares of the financial services provider's stock after purchasing an additional 52,293 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.10% of KeyCorp worth $13,354,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in KEY. Nisa Investment Advisors LLC grew its stake in KeyCorp by 8.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 273,010 shares of the financial services provider's stock valued at $3,931,000 after acquiring an additional 21,395 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in KeyCorp by 35.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 329,655 shares of the financial services provider's stock worth $4,747,000 after buying an additional 86,579 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in KeyCorp by 1.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 23,416,018 shares of the financial services provider's stock worth $337,191,000 after buying an additional 289,258 shares during the last quarter. Miller Howard Investments Inc. NY purchased a new stake in KeyCorp in the 4th quarter valued at $7,200,000. Finally, Fifth Third Bancorp increased its stake in shares of KeyCorp by 1.0% in the 4th quarter. Fifth Third Bancorp now owns 237,934 shares of the financial services provider's stock worth $3,426,000 after acquiring an additional 2,344 shares during the last quarter. 79.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on KEY shares. JPMorgan Chase & Co. upped their price objective on shares of KeyCorp from $16.00 to $18.00 and gave the company a "neutral" rating in a report on Thursday, April 4th. Wells Fargo & Company increased their price target on shares of KeyCorp from $16.00 to $18.00 and gave the company an "overweight" rating in a research note on Thursday, March 28th. Keefe, Bruyette & Woods lifted their price target on shares of KeyCorp from $16.00 to $18.00 and gave the company an "outperform" rating in a research report on Friday, April 5th. Evercore ISI upped their price objective on KeyCorp from $17.00 to $18.00 and gave the company an "outperform" rating in a report on Thursday, March 28th. Finally, Royal Bank of Canada lifted their target price on KeyCorp from $15.00 to $16.00 and gave the company an "outperform" rating in a research report on Friday, April 19th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, KeyCorp presently has a consensus rating of "Moderate Buy" and a consensus price target of $15.71.

KeyCorp Stock Up 0.5 %

Shares of KeyCorp stock traded up $0.07 during trading hours on Friday, reaching $15.40. 6,225,581 shares of the company were exchanged, compared to its average volume of 12,906,451. The firm has a market cap of $14.52 billion, a PE ratio of 19.49 and a beta of 1.28. The stock's fifty day moving average is $14.95 and its 200 day moving average is $14.03. KeyCorp has a 1 year low of $9.10 and a 1 year high of $15.86. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.87 and a current ratio of 0.87.

KeyCorp (NYSE:KEY - Get Free Report) last released its earnings results on Thursday, April 18th. The financial services provider reported $0.22 earnings per share for the quarter, missing analysts' consensus estimates of $0.23 by ($0.01). KeyCorp had a return on equity of 8.89% and a net margin of 7.53%. The firm had revenue of $1.53 billion for the quarter, compared to analysts' expectations of $1.51 billion. During the same quarter in the previous year, the company posted $0.44 earnings per share. The firm's quarterly revenue was down 10.6% on a year-over-year basis. As a group, equities research analysts forecast that KeyCorp will post 1.14 earnings per share for the current year.

KeyCorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Tuesday, May 28th will be paid a dividend of $0.205 per share. The ex-dividend date is Friday, May 24th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 5.32%. KeyCorp's payout ratio is currently 103.80%.

About KeyCorp

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.