Park Place Capital Corp Has $26,000 Stake in KeyCorp (NYSE:KEY)

Park Place Capital Corp decreased its stake in shares of KeyCorp (NYSE:KEY) by 33.3% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 1,856 shares of the financial services provider’s stock after selling 926 shares during the period. Park Place Capital Corp’s holdings in KeyCorp were worth $26,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Nisa Investment Advisors LLC increased its holdings in shares of KeyCorp by 8.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 273,010 shares of the financial services provider’s stock valued at $3,931,000 after acquiring an additional 21,395 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in KeyCorp by 35.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 329,655 shares of the financial services provider’s stock valued at $4,747,000 after buying an additional 86,579 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in KeyCorp by 1.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 23,416,018 shares of the financial services provider’s stock valued at $337,191,000 after buying an additional 289,258 shares during the last quarter. Aigen Investment Management LP acquired a new stake in KeyCorp in the 4th quarter valued at approximately $1,556,000. Finally, Miller Howard Investments Inc. NY acquired a new stake in KeyCorp in the 4th quarter valued at approximately $7,200,000. Institutional investors and hedge funds own 79.69% of the company’s stock.

KeyCorp Price Performance

KEY traded down $0.28 during trading on Monday, hitting $14.17. The company’s stock had a trading volume of 13,602,343 shares, compared to its average volume of 14,901,639. The firm’s 50 day moving average price is $14.54 and its two-hundred day moving average price is $14.63. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.37. KeyCorp has a 12 month low of $9.50 and a 12 month high of $16.50. The stock has a market capitalization of $13.37 billion, a price-to-earnings ratio of 17.95, a price-to-earnings-growth ratio of 0.78 and a beta of 1.26.

KeyCorp (NYSE:KEY) last released its earnings results on Thursday, July 18th. The financial services provider reported $0.25 EPS 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 analysts’ expectations of $1.52 billion. KeyCorp had a return on equity of 8.64% and a net margin of 7.35%. The business’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same period last year, the firm earned $0.27 EPS. Sell-side analysts forecast that KeyCorp will post 1.12 earnings per share for the current fiscal year.

KeyCorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Tuesday, August 27th will be paid a $0.205 dividend. The ex-dividend date of this dividend is Tuesday, August 27th. This represents a $0.82 annualized dividend and a dividend yield of 5.79%. KeyCorp’s dividend payout ratio (DPR) is currently 103.80%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Morgan Stanley raised their target price on KeyCorp from $16.00 to $18.00 and gave the company an “equal weight” rating in a report on Monday. UBS Group lowered KeyCorp from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $16.00 to $15.00 in a report on Monday, July 8th. Evercore ISI decreased their price objective on KeyCorp from $17.50 to $16.50 and set an “outperform” rating on the stock in a report on Tuesday, June 25th. DA Davidson lifted their price objective on KeyCorp from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Friday, July 19th. Finally, Wedbush lifted their price objective on KeyCorp from $15.00 to $16.00 and gave the stock a “neutral” rating in a report on Friday, July 19th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $16.25.

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.