MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Sells 44,238 Shares of KeyCorp (NYSE:KEY)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH cut its stake in shares of KeyCorp (NYSE:KEYGet Rating) by 25.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 132,827 shares of the financial services provider’s stock after selling 44,238 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in KeyCorp were worth $3,010,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of the business. BlackRock Inc. raised its stake in shares of KeyCorp by 2.1% during the 4th quarter. BlackRock Inc. now owns 83,634,140 shares of the financial services provider’s stock worth $1,934,456,000 after purchasing an additional 1,682,794 shares in the last quarter. Capital International Investors raised its position in KeyCorp by 8.6% during the fourth quarter. Capital International Investors now owns 83,201,801 shares of the financial services provider’s stock worth $1,924,458,000 after acquiring an additional 6,586,364 shares in the last quarter. Geode Capital Management LLC lifted its stake in KeyCorp by 3.8% in the fourth quarter. Geode Capital Management LLC now owns 17,992,418 shares of the financial services provider’s stock valued at $415,188,000 after acquiring an additional 662,049 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of KeyCorp by 2.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 14,293,209 shares of the financial services provider’s stock valued at $330,603,000 after acquiring an additional 304,266 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of KeyCorp by 1.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 10,146,401 shares of the financial services provider’s stock valued at $234,686,000 after acquiring an additional 102,185 shares during the period. Hedge funds and other institutional investors own 83.24% of the company’s stock.

Shares of NYSE:KEY opened at $17.41 on Thursday. The company’s 50 day moving average price is $19.25 and its two-hundred day moving average price is $22.42. KeyCorp has a 12-month low of $16.95 and a 12-month high of $27.17. The firm has a market cap of $16.23 billion, a PE ratio of 7.05, a PEG ratio of 0.44 and a beta of 1.33. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.81.

KeyCorp (NYSE:KEYGet Rating) last issued its quarterly earnings results on Thursday, April 21st. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.03). The company had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.74 billion. KeyCorp had a net margin of 31.30% and a return on equity of 15.42%. The company’s quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.61 earnings per share. On average, research analysts expect that KeyCorp will post 2.2 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 15th. Stockholders of record on Tuesday, May 31st were given a dividend of $0.195 per share. The ex-dividend date was Friday, May 27th. This represents a $0.78 dividend on an annualized basis and a dividend yield of 4.48%. KeyCorp’s payout ratio is 31.58%.

Several equities research analysts recently issued reports on the stock. Piper Sandler set a $19.00 target price on shares of KeyCorp in a research note on Monday. StockNews.com assumed coverage on KeyCorp in a research note on Thursday, March 31st. They set a “hold” rating for the company. Wells Fargo & Company upgraded KeyCorp from an “underweight” rating to an “overweight” rating and increased their price target for the company from $23.00 to $27.00 in a research note on Monday, April 11th. The Goldman Sachs Group cut their price target on KeyCorp from $27.00 to $23.00 and set a “buy” rating for the company in a report on Tuesday, May 31st. Finally, Jefferies Financial Group downgraded shares of KeyCorp from a “buy” rating to a “hold” rating in a report on Monday, April 11th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $25.14.

KeyCorp Profile (Get Rating)

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; and personal finance and financial wellness, student loan refinancing, mortgage and home equity, lending, credit card, treasury, business advisory, wealth management, asset management, investment, cash management, portfolio management, and trust and related services to individuals and small and medium-sized businesses.

See Also

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Institutional Ownership by Quarter for KeyCorp (NYSE:KEY)

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