Investment Centers of America Inc. Sells 25 Shares of KeyCorp (KEY)

Investment Centers of America Inc. lowered its stake in KeyCorp (NYSE:KEY) by 0.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 140,388 shares of the financial services provider’s stock after selling 25 shares during the quarter. Investment Centers of America Inc.’s holdings in KeyCorp were worth $2,631,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in shares of KeyCorp by 3.4% in the first quarter. Vanguard Group Inc. now owns 107,188,420 shares of the financial services provider’s stock valued at $1,905,811,000 after acquiring an additional 3,502,973 shares during the last quarter. BlackRock Inc. increased its position in shares of KeyCorp by 2.7% in the second quarter. BlackRock Inc. now owns 86,694,342 shares of the financial services provider’s stock valued at $1,624,654,000 after acquiring an additional 2,280,450 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of KeyCorp by 5.9% in the first quarter. JPMorgan Chase & Co. now owns 42,783,161 shares of the financial services provider’s stock valued at $760,682,000 after acquiring an additional 2,386,757 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its position in shares of KeyCorp by 3.9% in the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 17,011,141 shares of the financial services provider’s stock valued at $302,458,000 after acquiring an additional 636,778 shares during the last quarter. Finally, Bessemer Group Inc. increased its position in shares of KeyCorp by 0.7% in the second quarter. Bessemer Group Inc. now owns 12,000,915 shares of the financial services provider’s stock valued at $224,897,000 after acquiring an additional 87,019 shares during the last quarter. 80.79% of the stock is currently owned by institutional investors and hedge funds.

In other KeyCorp news, Director Ruth Ann M. Gillis bought 3,000 shares of the stock in a transaction dated Thursday, August 3rd. The shares were acquired at an average cost of $18.00 per share, for a total transaction of $54,000.00. Following the completion of the transaction, the director now owns 10,551 shares in the company, valued at approximately $189,918. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director David K. Wilson bought 3,500 shares of the stock in a transaction dated Friday, July 28th. The shares were acquired at an average price of $17.87 per share, for a total transaction of $62,545.00. Following the completion of the transaction, the director now owns 15,000 shares of the company’s stock, valued at approximately $268,050. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 16,000 shares of company stock worth $290,540 and have sold 259,409 shares worth $4,794,449. Company insiders own 0.65% of the company’s stock.

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Shares of KeyCorp (KEY) traded down 0.62% during midday trading on Friday, hitting $17.77. The stock had a trading volume of 4,772,414 shares. The company has a market cap of $19.33 billion, a price-to-earnings ratio of 17.65 and a beta of 1.12. The stock’s 50-day moving average price is $17.63 and its 200 day moving average price is $18.10. KeyCorp has a 52 week low of $11.89 and a 52 week high of $19.53.

KeyCorp (NYSE:KEY) last announced its earnings results on Thursday, July 20th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.34. The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.53 billion. KeyCorp had a net margin of 16.62% and a return on equity of 9.88%. The company’s revenue for the quarter was up 52.1% compared to the same quarter last year. During the same period last year, the firm posted $0.27 earnings per share. On average, equities analysts forecast that KeyCorp will post $1.36 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Tuesday, August 29th will be given a dividend of $0.095 per share. The ex-dividend date of this dividend is Friday, August 25th. This represents a $0.38 dividend on an annualized basis and a dividend yield of 2.12%. KeyCorp’s dividend payout ratio (DPR) is presently 38.78%.

KeyCorp declared that its Board of Directors has initiated a share repurchase program on Wednesday, June 28th that allows the company to buyback $800.00 million in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

A number of analysts recently issued reports on KEY shares. Keefe, Bruyette & Woods raised KeyCorp from a “market perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a research report on Monday, July 10th. BMO Capital Markets reaffirmed a “buy” rating and issued a $22.00 target price on shares of KeyCorp in a research report on Thursday, July 27th. Zacks Investment Research raised KeyCorp from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a research report on Wednesday, June 21st. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $21.00 target price on shares of KeyCorp in a research report on Friday, July 28th. Finally, Instinet reaffirmed a “buy” rating and issued a $23.00 target price on shares of KeyCorp in a research report on Wednesday, July 12th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and sixteen have assigned a buy rating to the company. KeyCorp has a consensus rating of “Hold” and a consensus target price of $20.13.

KeyCorp Company Profile

KeyCorp is a bank holding company. The Company is a bank-based financial services company. The Company operates through its subsidiary, KeyBank National Association (KeyBank), which is engaged in providing banking services. Through KeyBank and other subsidiaries, it provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, and investment banking products and services to individual, corporate and institutional clients.

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Institutional Ownership by Quarter for KeyCorp (NYSE:KEY)

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