Wellington Management Group LLP Purchases 208,077 Shares of KeyCorp (NYSE:KEY)

Wellington Management Group LLP lifted its holdings in shares of KeyCorp (NYSE:KEY - Free Report) by 104.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 407,448 shares of the financial services provider's stock after buying an additional 208,077 shares during the quarter. Wellington Management Group LLP's holdings in KeyCorp were worth $5,867,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Bruce G. Allen Investments LLC acquired a new position in KeyCorp during the 4th quarter worth about $26,000. Sound Income Strategies LLC raised its position 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 valued at $27,000 after purchasing an additional 1,836 shares in the last quarter. Cary Street Partners Investment Advisory LLC acquired a new stake in KeyCorp in the 3rd quarter valued at about $28,000. First United Bank & Trust acquired a new stake in KeyCorp in the 4th quarter valued at about $29,000. Finally, Baldwin Brothers LLC MA acquired a new stake in KeyCorp in the 4th quarter valued at about $35,000. 79.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Royal Bank of Canada restated an "outperform" rating and set a $41.00 price target on shares of KeyCorp in a research note on Tuesday. JPMorgan Chase & Co. lowered their target price on KeyCorp from $17.50 to $16.50 and set a "neutral" rating for the company in a research note on Thursday. Evercore ISI reduced their price target on KeyCorp from $17.50 to $16.50 and set an "outperform" rating for the company in a report on Tuesday. Jefferies Financial Group increased their price target on KeyCorp from $17.00 to $18.00 and gave the stock a "buy" rating in a research report on Monday, April 8th. Finally, Wells Fargo & Company lifted their price target on KeyCorp from $16.00 to $18.00 and gave the company an "overweight" rating in a research report on Thursday, March 28th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $17.38.

KeyCorp Stock Up 4.3 %

NYSE KEY traded up $0.59 during trading on Friday, hitting $14.21. 21,144,165 shares of the company traded hands, compared to its average volume of 12,835,844. KeyCorp has a 12 month low of $9.10 and a 12 month high of $15.86. The business has a fifty day simple moving average of $14.37 and a 200 day simple moving average of $14.46. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.72. The company has a market capitalization of $13.40 billion, a P/E ratio of 17.99, a PEG ratio of 0.69 and a beta of 1.28.

KeyCorp (NYSE:KEY - Get Free Report) last posted its earnings results on Thursday, April 18th. The financial services provider reported $0.22 earnings per share for the quarter, missing the consensus estimate 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 the consensus estimate of $1.51 billion. During the same quarter last year, the business earned $0.44 earnings per share. KeyCorp's quarterly revenue was down 10.6% on a year-over-year basis. As a group, sell-side analysts predict that KeyCorp will post 1.13 EPS for the current year.

KeyCorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Tuesday, May 28th were given a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 5.77%. The ex-dividend date was Friday, May 24th. KeyCorp's dividend payout ratio (DPR) is presently 103.80%.

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.