KeyCorp (NYSE:KEY) Insider Sells $1,532,274.03 in Stock

KeyCorp (NYSE:KEY) insider Andrew Paine III sold 65,961 shares of the business’s stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $23.23, for a total value of $1,532,274.03. Following the completion of the sale, the insider owned 166,583 shares of the company’s stock, valued at $3,869,723.09. The trade was a 28.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

KeyCorp Trading Down 3.5%

KEY opened at $21.75 on Friday. 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 stock’s fifty day moving average is $21.26 and its two-hundred day moving average is $19.27. The company has a market capitalization of $23.77 billion, a P/E ratio of 14.31, a PEG ratio of 0.55 and a beta of 1.10. KeyCorp has a 52 week low of $12.73 and a 52 week high of $23.34.

KeyCorp (NYSE:KEY) last issued its earnings results on Tuesday, January 20th. The financial services provider reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.02. The business had revenue of $2.01 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the prior year, the business earned $0.30 EPS. Analysts forecast that KeyCorp will post 1.5 earnings per share for the current year.

KeyCorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Tuesday, March 3rd will be issued a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 3.8%. The ex-dividend date is Tuesday, March 3rd. KeyCorp’s dividend payout ratio is presently 53.95%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on KEY shares. Stephens increased their price objective on shares of KeyCorp from $21.00 to $23.00 and gave the company an “overweight” rating in a research note on Thursday, December 18th. DA Davidson set a $25.00 target price on KeyCorp in a report on Wednesday, January 21st. Royal Bank Of Canada increased their target price on KeyCorp from $20.00 to $22.00 and gave the company an “outperform” rating in a research report on Friday, December 12th. Weiss Ratings reissued a “hold (c+)” rating on shares of KeyCorp in a research report on Monday, December 29th. Finally, Keefe, Bruyette & Woods upped their price objective on KeyCorp from $21.00 to $24.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 17th. Twelve research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $23.03.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Marshall Wace LLP raised its stake in KeyCorp by 2,258.4% in the 2nd quarter. Marshall Wace LLP now owns 2,572,980 shares of the financial services provider’s stock valued at $44,821,000 after purchasing an additional 2,463,880 shares during the last quarter. Nordea Investment Management AB grew its holdings in shares of KeyCorp by 23.2% during the second quarter. Nordea Investment Management AB now owns 107,565 shares of the financial services provider’s stock worth $1,867,000 after buying an additional 20,228 shares in the last quarter. Prudential Financial Inc. grew its holdings in shares of KeyCorp by 9.9% during the second quarter. Prudential Financial Inc. now owns 575,108 shares of the financial services provider’s stock worth $10,018,000 after buying an additional 51,705 shares in the last quarter. Korea Investment CORP raised its position in shares of KeyCorp by 175.5% in the second quarter. Korea Investment CORP now owns 447,252 shares of the financial services provider’s stock valued at $7,791,000 after buying an additional 284,928 shares during the last quarter. Finally, HoldCo Asset Management LP purchased a new position in shares of KeyCorp in the second quarter worth about $86,995,000. 79.69% of the stock is currently owned by hedge funds and other institutional investors.

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.