Chevy Chase Trust Holdings LLC Sells 4,415 Shares of KeyCorp (NYSE:KEY)

Chevy Chase Trust Holdings LLC trimmed its holdings in shares of KeyCorp (NYSE:KEY) by 0.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 519,589 shares of the financial services provider’s stock after selling 4,415 shares during the quarter. Chevy Chase Trust Holdings LLC owned 0.06% of KeyCorp worth $8,215,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Bruce G. Allen Investments LLC acquired a new position in shares of KeyCorp during the fourth quarter valued at about $26,000. Sound Income Strategies LLC increased its holdings in KeyCorp by 3,600.0% in the 4th quarter. Sound Income Strategies LLC now owns 1,887 shares of the financial services provider’s stock worth $27,000 after buying an additional 1,836 shares during the period. First United Bank & Trust acquired a new position in KeyCorp in the 4th quarter worth approximately $29,000. Baldwin Brothers LLC MA acquired a new position in KeyCorp in the 4th quarter worth approximately $35,000. Finally, Fidelis Capital Partners LLC purchased a new stake in KeyCorp in the 1st quarter worth approximately $39,000. Hedge funds and other institutional investors own 79.69% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on KEY shares. Keefe, Bruyette & Woods increased their target price on KeyCorp from $16.00 to $18.00 and gave the company an “outperform” rating in a research report on Friday, April 5th. Argus increased their price objective on KeyCorp from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Friday, April 19th. Jefferies Financial Group increased their price objective on KeyCorp from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Monday, April 8th. JPMorgan Chase & Co. reduced their price objective on KeyCorp from $17.50 to $16.50 and set a “neutral” rating for the company in a research note on Thursday, June 27th. Finally, Evercore ISI reduced their price objective on KeyCorp from $17.50 to $16.50 and set an “outperform” rating for the company in a research note on Tuesday, June 25th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $17.24.

KeyCorp Price Performance

Shares of KEY traded up $0.31 during trading hours on Thursday, reaching $14.98. 899,121 shares of the company traded hands, compared to its average volume of 14,530,020. The stock has a fifty day simple moving average of $14.31 and a 200 day simple moving average of $14.46. The stock has a market capitalization of $14.12 billion, a PE ratio of 18.58, a price-to-earnings-growth ratio of 0.71 and a beta of 1.26. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.72. KeyCorp has a fifty-two week low of $9.50 and a fifty-two week high of $15.86.

KeyCorp (NYSE:KEY) last released its quarterly earnings data on Thursday, April 18th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). KeyCorp had a net margin of 7.53% and a return on equity of 8.89%. The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same quarter in the prior year, the firm earned $0.44 EPS. The company’s revenue for the quarter was down 10.6% compared to the same quarter last year. As a group, research analysts predict that KeyCorp will post 1.13 EPS for the current fiscal year.

KeyCorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Tuesday, August 27th will be given a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 5.47%. KeyCorp’s dividend payout ratio is presently 103.80%.

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.