Alps Advisors Inc. Sells 214,354 Shares of KeyCorp $KEY

Alps Advisors Inc. lowered its stake in KeyCorp (NYSE:KEY) by 14.3% in the 3rd quarter, HoldingsChannel reports. The fund owned 1,287,172 shares of the financial services provider’s stock after selling 214,354 shares during the period. Alps Advisors Inc.’s holdings in KeyCorp were worth $24,057,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Bryn Mawr Trust Advisors LLC increased its position in shares of KeyCorp by 4.8% during the 2nd quarter. Bryn Mawr Trust Advisors LLC now owns 13,363 shares of the financial services provider’s stock valued at $233,000 after purchasing an additional 608 shares during the last quarter. NorthCrest Asset Manangement LLC boosted its stake in KeyCorp by 4.1% during the third quarter. NorthCrest Asset Manangement LLC now owns 15,912 shares of the financial services provider’s stock worth $293,000 after buying an additional 627 shares during the period. Vanguard Personalized Indexing Management LLC increased its position in KeyCorp by 0.4% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 154,818 shares of the financial services provider’s stock valued at $2,894,000 after acquiring an additional 660 shares during the last quarter. Amalgamated Bank increased its position in KeyCorp by 0.4% during the second quarter. Amalgamated Bank now owns 187,940 shares of the financial services provider’s stock valued at $3,274,000 after acquiring an additional 683 shares during the last quarter. Finally, Sequoia Financial Advisors LLC raised its stake in shares of KeyCorp by 0.9% in the third quarter. Sequoia Financial Advisors LLC now owns 81,236 shares of the financial services provider’s stock valued at $1,518,000 after acquiring an additional 694 shares during the period. 79.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at KeyCorp

In other KeyCorp news, Director Trina M. Evans sold 32,695 shares of the stock in a transaction 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 sale, the director owned 58,719 shares of the company’s stock, valued at approximately $1,276,551.06. This trade represents a 35.77% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Angela G. Mago sold 62,850 shares of KeyCorp stock in a transaction on Thursday, January 29th. The shares were sold at an average price of $21.55, for a total value of $1,354,417.50. Following the completion of the transaction, the insider owned 261,415 shares in the company, valued at $5,633,493.25. This represents a 19.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.52% of the stock is currently owned by corporate insiders.

KeyCorp Trading Up 2.4%

Shares of NYSE KEY opened at $23.24 on Friday. KeyCorp has a twelve month low of $12.73 and a twelve month high of $23.29. The firm has a market cap of $25.40 billion, a PE ratio of 15.29, a price-to-earnings-growth ratio of 0.56 and a beta of 1.10. The business has a fifty day simple moving average of $20.95 and a two-hundred day simple moving average of $19.17. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.55.

KeyCorp (NYSE:KEY) last announced its quarterly earnings results 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 for the quarter, compared to analyst estimates of $1.95 billion. KeyCorp had a return on equity of 10.28% and a net margin of 15.97%.The business’s revenue for the quarter was up 131.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.30 earnings per share. Analysts expect that KeyCorp will post 1.5 earnings per share for the current fiscal year.

KeyCorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Tuesday, March 3rd will be issued a $0.205 dividend. The ex-dividend date is Tuesday, March 3rd. This represents a $0.82 annualized dividend and a dividend yield of 3.5%. KeyCorp’s payout ratio is currently 53.95%.

Analyst Ratings Changes

Several equities analysts recently commented on KEY shares. Wells Fargo & Company set a $18.00 price target on shares of KeyCorp and gave the company an “underperform” rating in a report on Tuesday, January 6th. Stephens boosted their target price on KeyCorp from $21.00 to $23.00 and gave the company an “overweight” rating in a research report on Thursday, December 18th. Citigroup reiterated a “neutral” rating on shares of KeyCorp in a report on Wednesday, December 31st. Truist Financial boosted their price objective on KeyCorp from $22.00 to $23.00 and gave the company a “hold” rating in a report on Monday, January 26th. Finally, Jefferies Financial Group upped their price objective on KeyCorp from $19.00 to $22.00 and gave the company a “hold” rating in a research report on Wednesday, December 10th. Twelve investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $22.90.

About KeyCorp

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.