MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Takes Position in KeyCorp (NYSE:KEY)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH purchased a new position in shares of KeyCorp (NYSE:KEY - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 126,346 shares of the financial services provider's stock, valued at approximately $1,795,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Valeo Financial Advisors LLC increased its holdings in shares of KeyCorp by 1.0% during the 1st quarter. Valeo Financial Advisors LLC now owns 69,213 shares of the financial services provider's stock worth $1,094,000 after buying an additional 704 shares during the last quarter. Raymond James Trust N.A. increased its stake in KeyCorp by 2.5% during the second quarter. Raymond James Trust N.A. now owns 30,155 shares of the financial services provider's stock worth $429,000 after acquiring an additional 724 shares during the last quarter. Caldwell Sutter Capital Inc. raised its position in KeyCorp by 3.7% in the first quarter. Caldwell Sutter Capital Inc. now owns 20,927 shares of the financial services provider's stock valued at $331,000 after purchasing an additional 742 shares during the period. Czech National Bank raised its position in KeyCorp by 0.5% in the first quarter. Czech National Bank now owns 164,768 shares of the financial services provider's stock valued at $2,605,000 after purchasing an additional 788 shares during the period. Finally, CWM LLC lifted its stake in shares of KeyCorp by 1.7% in the 1st quarter. CWM LLC now owns 50,656 shares of the financial services provider's stock valued at $801,000 after purchasing an additional 837 shares during the last quarter. Institutional investors and hedge funds own 79.69% of the company's stock.

Insider Transactions at KeyCorp

In other news, Director Carlton L. Highsmith sold 10,000 shares of the company's stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $16.21, for a total transaction of $162,100.00. Following the completion of the sale, the director now owns 46,864 shares in the company, valued at approximately $759,665.44. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.61% of the stock is owned by insiders.

KeyCorp Trading Up 1.1 %

NYSE KEY traded up $0.18 during mid-day trading on Friday, reaching $17.06. 12,129,062 shares of the stock were exchanged, compared to its average volume of 16,299,387. KeyCorp has a 1-year low of $9.50 and a 1-year high of $17.20. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.85 and a current ratio of 0.85. The business's fifty day simple moving average is $15.39 and its 200 day simple moving average is $14.87. The stock has a market capitalization of $16.09 billion, a PE ratio of 21.60, a PEG ratio of 0.95 and a beta of 1.26.

KeyCorp (NYSE:KEY - Get Free Report) last announced its earnings results on Thursday, July 18th. The financial services provider reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.01. The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.52 billion. KeyCorp had a return on equity of 8.64% and a net margin of 7.35%. The company's revenue was down 4.3% on a year-over-year basis. During the same period last year, the firm earned $0.27 earnings per share. On average, research analysts anticipate that KeyCorp will post 1.09 earnings per share for the current fiscal year.

KeyCorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Tuesday, August 27th will be given a dividend of $0.205 per share. The ex-dividend date of this dividend is Tuesday, August 27th. This represents a $0.82 annualized dividend and a dividend yield of 4.81%. KeyCorp's dividend payout ratio (DPR) is 103.80%.

Analyst Ratings Changes

KEY has been the topic of a number of recent analyst reports. DA Davidson upped their target price on shares of KeyCorp from $16.00 to $18.00 and gave the company a "buy" rating in a research report on Friday, July 19th. Jefferies Financial Group increased their price target on shares of KeyCorp from $18.00 to $19.00 and gave the stock a "buy" rating in a research report on Monday, August 19th. Morgan Stanley lifted their target price on KeyCorp from $18.00 to $20.00 and gave the company an "equal weight" rating in a report on Wednesday, August 14th. UBS Group cut shares of KeyCorp from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $16.00 to $15.00 in a report on Monday, July 8th. Finally, JPMorgan Chase & Co. cut their price target on KeyCorp from $17.50 to $16.50 and set a "neutral" rating on the stock in a research note on Thursday, June 27th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, KeyCorp presently has an average rating of "Moderate Buy" and an average price target of $16.65.

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.