CX Institutional Sells 796 Shares of KeyCorp (NYSE:KEY)

CX Institutional reduced its position in KeyCorp (NYSE:KEY) by 7.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,489 shares of the financial services provider’s stock after selling 796 shares during the quarter. CX Institutional’s holdings in KeyCorp were worth $168,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Whittier Trust Co. boosted its stake in shares of KeyCorp by 110.3% in the 4th quarter. Whittier Trust Co. now owns 1,525 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 800 shares during the last quarter. Ethos Financial Group LLC bought a new stake in shares of KeyCorp in the 4th quarter valued at $27,000. Fourth Dimension Wealth LLC bought a new position in KeyCorp during the fourth quarter worth $28,000. SBI Securities Co. Ltd. bought a new position in KeyCorp during the fourth quarter worth $34,000. Finally, TCTC Holdings LLC boosted its stake in KeyCorp by 38.6% during the fourth quarter. TCTC Holdings LLC now owns 2,195 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 611 shares in the last quarter. 79.69% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Royal Bank of Canada reissued an “outperform” rating on shares of KeyCorp in a research note on Thursday, April 17th. TD Cowen assumed coverage on shares of KeyCorp in a research note on Thursday, May 15th. They set a “hold” rating and a $18.00 target price on the stock. Evercore ISI set a $17.00 target price on shares of KeyCorp in a research note on Monday, April 28th. Wall Street Zen raised shares of KeyCorp from a “sell” rating to a “hold” rating in a research note on Monday, April 21st. Finally, Barclays cut their target price on shares of KeyCorp from $21.00 to $20.00 and set an “equal weight” rating on the stock in a research note on Monday, April 21st. Eleven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.86.

KeyCorp Stock Performance

Shares of KEY stock opened at $15.63 on Monday. The firm has a 50-day moving average of $15.34 and a 200-day moving average of $16.46. The company has a market cap of $17.12 billion, a P/E ratio of -52.08, a P/E/G ratio of 0.65 and a beta of 1.09. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.85 and a quick ratio of 0.84. KeyCorp has a one year low of $12.73 and a one year high of $20.04.

KeyCorp (NYSE:KEY) last announced its earnings results on Thursday, April 17th. The financial services provider reported $0.33 EPS for the quarter, beating the consensus estimate of $0.32 by $0.01. The company had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.77 billion. KeyCorp had a negative net margin of 2.52% and a positive return on equity of 8.73%. During the same quarter in the prior year, the company posted $0.20 earnings per share. Equities research analysts forecast that KeyCorp will post 1.5 EPS for the current fiscal year.

KeyCorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Tuesday, May 27th were issued a dividend of $0.205 per share. The ex-dividend date was Tuesday, May 27th. This represents a $0.82 dividend on an annualized basis and a yield of 5.25%. KeyCorp’s dividend payout ratio (DPR) is presently -482.35%.

KeyCorp declared that its board has authorized a stock repurchase program on Thursday, March 13th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the financial services provider to buy up to 6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In related news, insider Amy G. Brady sold 19,000 shares of the firm’s stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $16.09, for a total transaction of $305,710.00. Following the completion of the sale, the insider now owns 82,523 shares in the company, valued at approximately $1,327,795.07. This trade represents a 18.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Carlton L. Highsmith sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $16.60, for a total transaction of $83,000.00. Following the sale, the director now owns 37,177 shares of the company’s stock, valued at $617,138.20. This trade represents a 11.85% decrease in their position. The disclosure for this sale can be found here. 0.52% of the stock is currently owned by corporate insiders.

KeyCorp Company Profile

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.