KeyCorp (NYSE:KEY) General Counsel Paul N. Harris sold 205,024 shares of the company’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $18.56, for a total transaction of $3,805,245.44. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Shares of KeyCorp (NYSE:KEY) traded up 0.16% during trading on Tuesday, hitting $18.35. 8,699,534 shares of the stock were exchanged. The stock’s 50 day moving average is $18.58 and its 200-day moving average is $18.26. KeyCorp has a 12-month low of $11.89 and a 12-month high of $19.53. The stock has a market cap of $20.05 billion, a price-to-earnings ratio of 18.22 and a beta of 1.11.

KeyCorp (NYSE:KEY) last issued its quarterly earnings data on Thursday, July 20th. The financial services provider reported $0.34 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.34. KeyCorp had a net margin of 16.62% and a return on equity of 9.88%. The business had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same period in the previous year, the company earned $0.27 earnings per share. KeyCorp’s revenue for the quarter was up 52.1% on a year-over-year basis. Equities research analysts anticipate that KeyCorp will post $1.36 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Tuesday, August 29th will be paid a $0.095 dividend. This represents a $0.38 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date is Friday, August 25th. KeyCorp’s payout ratio is 38.78%.

KeyCorp declared that its board has approved a stock buyback plan on Wednesday, June 28th that authorizes the company to buyback $800.00 million in shares. This buyback authorization authorizes the financial services provider to purchase up to 4% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board of directors believes its shares are undervalued.

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Several research analysts have weighed in on the stock. DA Davidson upgraded shares of KeyCorp from a “neutral” rating to a “buy” rating and upped their target price for the stock from $20.00 to $21.00 in a research report on Thursday, July 20th. Keefe, Bruyette & Woods set a $20.00 target price on shares of KeyCorp and gave the stock a “hold” rating in a research report on Saturday, June 24th. Morgan Stanley restated an “overweight” rating and set a $22.00 target price (up from $21.00) on shares of KeyCorp in a research report on Friday, July 7th. Jefferies Group LLC restated a “buy” rating and set a $21.00 target price on shares of KeyCorp in a research report on Friday, July 14th. Finally, BidaskClub upgraded shares of KeyCorp from a “hold” rating to a “buy” rating in a research report on Saturday, June 10th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and fifteen have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $19.78.

A number of institutional investors have recently added to or reduced their stakes in the stock. Macquarie Group Ltd. boosted its position in KeyCorp by 31.7% in the fourth quarter. Macquarie Group Ltd. now owns 869,496 shares of the financial services provider’s stock valued at $15,885,000 after buying an additional 209,075 shares during the last quarter. Chevy Chase Trust Holdings Inc. boosted its position in KeyCorp by 2.4% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 924,505 shares of the financial services provider’s stock valued at $16,438,000 after buying an additional 21,454 shares during the last quarter. Raymond James Trust N.A. boosted its position in KeyCorp by 5.5% in the first quarter. Raymond James Trust N.A. now owns 14,906 shares of the financial services provider’s stock valued at $265,000 after buying an additional 774 shares during the last quarter. Gulf International Bank UK Ltd boosted its position in KeyCorp by 1.3% in the first quarter. Gulf International Bank UK Ltd now owns 332,047 shares of the financial services provider’s stock valued at $5,903,000 after buying an additional 4,400 shares during the last quarter. Finally, National Pension Service boosted its position in KeyCorp by 9.3% in the first quarter. National Pension Service now owns 899,234 shares of the financial services provider’s stock valued at $16,177,000 after buying an additional 76,297 shares during the last quarter. Hedge funds and other institutional investors own 81.27% of the company’s stock.

About KeyCorp

KeyCorp is a bank holding company. The Company is a bank-based financial services company. The Company operates through its subsidiary, KeyBank National Association (KeyBank), which is engaged in providing banking services. Through KeyBank and other subsidiaries, it provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, and investment banking products and services to individual, corporate and institutional clients.

Insider Buying and Selling by Quarter for KeyCorp (NYSE:KEY)

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