Insider Selling: KeyCorp (NYSE:KEY) Director Sells $710,789.30 in Stock

KeyCorp (NYSE:KEY) Director Trina Evans sold 32,695 shares of the firm’s stock in a transaction that occurred on Thursday, January 22nd. The stock was sold at an average price of $21.74, for a total transaction of $710,789.30. Following the completion of the transaction, the director owned 58,719 shares in the company, valued at $1,276,551.06. This represents a 35.77% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

KeyCorp Trading Down 2.2%

Shares of KEY opened at $21.09 on Monday. The stock has a market capitalization of $23.05 billion, a P/E ratio of 13.88, a PEG ratio of 0.51 and a beta of 1.09. KeyCorp has a twelve month low of $12.73 and a twelve month high of $22.07. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.55. The firm has a fifty day simple moving average of $20.11 and a two-hundred day simple moving average of $18.91.

KeyCorp (NYSE:KEY) last issued its quarterly earnings data on Tuesday, January 20th. The financial services provider reported $0.41 EPS for the quarter, beating the consensus estimate of $0.39 by $0.02. The firm had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.95 billion. KeyCorp had a net margin of 15.97% and a return on equity of 10.28%. The company’s quarterly revenue was up 131.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.30 earnings per share. On average, research analysts anticipate that KeyCorp will post 1.5 EPS for the current year.

KeyCorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Tuesday, March 3rd will be paid a dividend of $0.205 per share. The ex-dividend date of this dividend is Tuesday, March 3rd. This represents a $0.82 annualized dividend and a dividend yield of 3.9%. KeyCorp’s payout ratio is 53.95%.

Institutional Trading of KeyCorp

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Activest Wealth Management raised its stake in KeyCorp by 8,775.0% during the second quarter. Activest Wealth Management now owns 1,420 shares of the financial services provider’s stock valued at $25,000 after buying an additional 1,404 shares during the last quarter. United Community Bank bought a new position in shares of KeyCorp during the third quarter valued at $27,000. Maseco LLP purchased a new position in shares of KeyCorp in the 4th quarter worth about $27,000. GoalVest Advisory LLC purchased a new position in shares of KeyCorp in the 4th quarter worth about $30,000. Finally, Sachetta LLC boosted its stake in KeyCorp by 1,246.1% in the 3rd quarter. Sachetta LLC now owns 1,723 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 1,595 shares in the last quarter. Hedge funds and other institutional investors own 79.69% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on KEY. DA Davidson set a $25.00 price objective on shares of KeyCorp in a research report on Wednesday. Barclays lifted their target price on shares of KeyCorp from $20.00 to $24.00 and gave the company an “equal weight” rating in a research note on Monday, January 5th. Jefferies Financial Group boosted their price target on shares of KeyCorp from $19.00 to $22.00 and gave the company a “hold” rating in a research report on Wednesday, December 10th. Keefe, Bruyette & Woods raised their price objective on shares of KeyCorp from $21.00 to $24.00 and gave the stock an “outperform” rating in a report on Wednesday, December 17th. Finally, Stephens lifted their price objective on KeyCorp from $21.00 to $23.00 and gave the company an “overweight” rating in a research report on Thursday, December 18th. Eleven investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, KeyCorp presently has a consensus rating of “Hold” and a consensus target price of $22.63.

KeyCorp Company Profile

KeyCorp is a bank holding company headquartered in Cleveland, Ohio, that operates through its primary banking subsidiary, KeyBank. It provides a broad range of banking and financial services to individual consumers, small businesses, middle-market companies and large corporations. KeyBank’s offerings span traditional deposit and lending products as well as more specialized financial solutions designed for commercial and institutional clients.

The company’s product and service mix includes retail banking products such as checking and savings accounts, consumer and residential mortgage lending, and auto financing.