Magnetar Financial LLC Invests $170,000 in KeyCorp (NYSE:KEY)

Magnetar Financial LLC purchased a new position in KeyCorp (NYSE:KEY) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 10,724 shares of the financial services provider’s stock, valued at approximately $170,000.

Other large investors have also recently made changes to their positions in the company. First United Bank & Trust bought a new stake in shares of KeyCorp in the fourth quarter worth approximately $29,000. Crewe Advisors LLC purchased a new position in shares of KeyCorp in the first quarter worth approximately $32,000. Quarry LP purchased a new position in shares of KeyCorp in the fourth quarter worth approximately $38,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of KeyCorp in the fourth quarter worth approximately $39,000. Finally, Criterion Capital Advisors LLC purchased a new position in shares of KeyCorp in the fourth quarter worth approximately $39,000. 79.69% of the stock is currently owned by institutional investors.

KeyCorp Trading Down 1.0 %

KEY stock traded down $0.16 during mid-day trading on Monday, reaching $16.30. 1,009,053 shares of the stock traded hands, compared to its average volume of 14,795,055. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.85 and a current ratio of 0.85. KeyCorp has a one year low of $9.50 and a one year high of $16.48. The stock has a market capitalization of $15.37 billion, a PE ratio of 20.84, a PEG ratio of 0.89 and a beta of 1.26. The business has a 50-day moving average price of $14.46 and a two-hundred day moving average price of $14.57.

KeyCorp (NYSE:KEY) last posted its quarterly earnings data on Thursday, July 18th. The financial services provider reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. KeyCorp had a net margin of 7.35% and a return on equity of 8.64%. The business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter in the previous year, the business posted $0.27 earnings per share. The business’s revenue was down 4.3% compared to the same quarter last year. Equities research analysts expect that KeyCorp will post 1.12 EPS for the current year.

KeyCorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Tuesday, August 27th will be given a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 5.03%. The ex-dividend date of this dividend is Tuesday, August 27th. KeyCorp’s dividend payout ratio (DPR) is 103.80%.

Analysts Set New Price Targets

KEY has been the topic of several analyst reports. Royal Bank of Canada lifted their price target on shares of KeyCorp from $16.00 to $17.00 and gave the company an “outperform” rating in a report on Friday, July 19th. UBS Group downgraded shares of KeyCorp from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $16.00 to $15.00 in a report on Monday, July 8th. Argus boosted their target price on shares of KeyCorp from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Friday, April 19th. JPMorgan Chase & Co. lowered their target price on shares of KeyCorp from $17.50 to $16.50 and set a “neutral” rating on the stock in a report on Thursday, June 27th. Finally, DA Davidson boosted their target price on shares of KeyCorp from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Friday, July 19th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, KeyCorp presently has an average rating of “Moderate Buy” and an average target price of $16.13.

About KeyCorp

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.