WINTON GROUP Ltd Purchases 231,035 Shares of KeyCorp $KEY

WINTON GROUP Ltd increased its holdings in shares of KeyCorp (NYSE:KEY) by 1,691.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 244,695 shares of the financial services provider’s stock after acquiring an additional 231,035 shares during the quarter. WINTON GROUP Ltd’s holdings in KeyCorp were worth $5,640,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. SVB Wealth LLC purchased a new position in shares of KeyCorp in the 2nd quarter worth about $2,162,000. Pinnacle Wealth Management Advisory Group LLC bought a new stake in KeyCorp in the second quarter worth about $238,000. Integrated Wealth Concepts LLC raised its position in KeyCorp by 11.0% in the second quarter. Integrated Wealth Concepts LLC now owns 38,702 shares of the financial services provider’s stock worth $892,000 after acquiring an additional 3,845 shares during the period. NewEdge Advisors LLC boosted its stake in KeyCorp by 5.3% in the second quarter. NewEdge Advisors LLC now owns 75,430 shares of the financial services provider’s stock valued at $1,739,000 after acquiring an additional 3,815 shares during the last quarter. Finally, Arizona State Retirement System grew its position in shares of KeyCorp by 4.2% during the 2nd quarter. Arizona State Retirement System now owns 261,421 shares of the financial services provider’s stock valued at $6,026,000 after acquiring an additional 10,500 shares during the period. 79.69% of the stock is currently owned by institutional investors.

KeyCorp Trading Down 0.0%

NYSE KEY opened at $21.72 on Friday. The firm’s fifty day moving average is $22.61 and its two-hundred day moving average is $21.75. KeyCorp has a one year low of $16.47 and a one year high of $24.07. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.83 and a current ratio of 0.84. The firm has a market cap of $23.18 billion, a PE ratio of 12.63, a P/E/G ratio of 0.82 and a beta of 1.02.

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

KeyCorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be paid a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Tuesday, September 1st. KeyCorp’s dividend payout ratio (DPR) is 47.67%.

Analysts Set New Price Targets

A number of research firms recently commented on KEY. JPMorgan Chase & Co. lifted their price target on shares of KeyCorp from $22.50 to $24.50 and gave the stock a “neutral” rating in a report on Monday, July 6th. TD Cowen restated a “buy” rating and issued a $68.00 target price on shares of KeyCorp in a research note on Tuesday, June 23rd. Morgan Stanley upped their price target on KeyCorp from $24.00 to $25.00 and gave the company an “equal weight” rating in a research report on Monday, June 29th. Weiss Ratings reiterated a “buy (b)” rating on shares of KeyCorp in a research note on Friday, August 7th. Finally, Keefe, Bruyette & Woods boosted their price objective on KeyCorp from $25.00 to $26.00 and gave the company an “outperform” rating in a research note on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $49.14.

About KeyCorp

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.