Neuberger Berman Group LLC Has $2.32 Million Holdings in KeyCorp $KEY

Neuberger Berman Group LLC boosted its stake in KeyCorp (NYSE:KEY) by 10.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 132,893 shares of the financial services provider’s stock after purchasing an additional 12,467 shares during the quarter. Neuberger Berman Group LLC’s holdings in KeyCorp were worth $2,315,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Nordea Investment Management AB increased its stake in KeyCorp by 23.2% in the second quarter. Nordea Investment Management AB now owns 107,565 shares of the financial services provider’s stock valued at $1,867,000 after purchasing an additional 20,228 shares in the last quarter. Signal Advisors Wealth LLC bought a new stake in shares of KeyCorp in the 2nd quarter valued at $431,000. Gradient Investments LLC acquired a new stake in KeyCorp during the 2nd quarter worth $1,973,000. AQR Capital Management LLC lifted its holdings in KeyCorp by 5.1% during the first quarter. AQR Capital Management LLC now owns 417,667 shares of the financial services provider’s stock worth $6,495,000 after acquiring an additional 20,429 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of KeyCorp by 2.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,356,598 shares of the financial services provider’s stock worth $117,632,000 after acquiring an additional 172,151 shares in the last quarter. Institutional investors own 79.69% of the company’s stock.

KeyCorp Trading Down 0.1%

NYSE KEY opened at $18.38 on Friday. KeyCorp has a 12 month low of $12.73 and a 12 month high of $19.61. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The stock has a 50 day moving average of $17.91 and a 200-day moving average of $17.74. The company has a market cap of $20.09 billion, a PE ratio of 22.69, a PEG ratio of 0.52 and a beta of 1.18.

KeyCorp (NYSE:KEY) last issued its earnings results on Thursday, October 16th. The financial services provider reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.03. The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.87 billion. KeyCorp had a net margin of 10.08% and a return on equity of 10.14%. The firm’s revenue for the quarter was up 172.7% on a year-over-year basis. During the same period in the previous year, the company earned ($0.47) earnings per share. On average, equities research analysts anticipate that KeyCorp will post 1.5 EPS for the current fiscal year.

KeyCorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Tuesday, December 2nd will be paid a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 4.5%. The ex-dividend date is Tuesday, December 2nd. KeyCorp’s dividend payout ratio (DPR) is 101.23%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on KEY. Royal Bank Of Canada lifted their price target on shares of KeyCorp from $19.00 to $20.00 and gave the company an “outperform” rating in a research note on Wednesday, October 1st. UBS Group upped their target price on shares of KeyCorp from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. Evercore ISI upped their price objective on KeyCorp from $21.00 to $22.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 30th. Jefferies Financial Group cut their target price on KeyCorp from $20.00 to $18.00 and set a “hold” rating on the stock in a research note on Friday, October 17th. Finally, JPMorgan Chase & Co. raised their price target on shares of KeyCorp from $19.00 to $19.50 and gave the stock a “neutral” rating in a research note on Friday, October 10th. Nine equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, KeyCorp has a consensus rating of “Hold” and a consensus price target of $20.62.

Insiders Place Their Bets

In other KeyCorp news, insider Andrew J. Paine III sold 44,953 shares of the company’s stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $19.29, for a total value of $867,143.37. Following the sale, the insider owned 245,044 shares in the company, valued at $4,726,898.76. This represents a 15.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.52% of the stock is currently owned by company insiders.

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.