Clearstead Advisors LLC Sells 92,525 Shares of KeyCorp $KEY

Clearstead Advisors LLC decreased its position in shares of KeyCorp (NYSE:KEY) by 8.1% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,053,754 shares of the financial services provider’s stock after selling 92,525 shares during the period. Clearstead Advisors LLC’s holdings in KeyCorp were worth $19,695,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of KEY. Bleakley Financial Group LLC grew its position in KeyCorp by 22.0% during the 3rd quarter. Bleakley Financial Group LLC now owns 15,656 shares of the financial services provider’s stock worth $293,000 after acquiring an additional 2,828 shares during the last quarter. Tredje AP fonden raised its position in KeyCorp by 20.4% in the 3rd quarter. Tredje AP fonden now owns 164,542 shares of the financial services provider’s stock valued at $3,075,000 after purchasing an additional 27,845 shares during the last quarter. Stevens Capital Management LP acquired a new position in KeyCorp in the third quarter worth $213,000. AMG National Trust Bank grew its holdings in shares of KeyCorp by 2.7% during the third quarter. AMG National Trust Bank now owns 89,142 shares of the financial services provider’s stock worth $1,666,000 after purchasing an additional 2,380 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of KeyCorp by 2.7% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,013,977 shares of the financial services provider’s stock valued at $37,641,000 after buying an additional 53,682 shares in the last quarter. Institutional investors own 79.69% of the company’s stock.

KeyCorp Trading Up 1.7%

Shares of NYSE KEY opened at $22.17 on Monday. KeyCorp has a fifty-two week low of $12.73 and a fifty-two week high of $23.34. The firm has a market capitalization of $24.23 billion, a P/E ratio of 14.58, a P/E/G ratio of 0.66 and a beta of 1.10. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.83 and a quick ratio of 0.82. The company’s 50 day simple moving average is $21.47 and its 200 day simple moving average is $19.45.

KeyCorp (NYSE:KEY) last released its earnings results on Tuesday, January 20th. The financial services provider reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. The firm had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.95 billion. KeyCorp had a net margin of 15.97% and a return on equity of 10.28%. The business’s quarterly revenue was up 131.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.30 EPS. On average, analysts predict that KeyCorp will post 1.5 EPS for the current year.

KeyCorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Tuesday, March 3rd will be paid a $0.205 dividend. The ex-dividend date of this dividend is Tuesday, March 3rd. This represents a $0.82 annualized dividend and a yield of 3.7%. KeyCorp’s dividend payout ratio is presently 53.95%.

Insiders Place Their Bets

In related news, insider Andrew J. Paine III sold 65,961 shares of the 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 sale, the insider directly owned 166,583 shares in the company, valued at $3,869,723.09. This trade represents a 28.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Angela G. Mago sold 62,850 shares of the business’s stock in a transaction that occurred on Thursday, January 29th. The shares were sold at an average price of $21.55, for a total transaction of $1,354,417.50. Following the transaction, the insider owned 261,415 shares of the company’s stock, valued at approximately $5,633,493.25. This represents a 19.38% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 161,506 shares of company stock worth $3,597,481. Insiders own 0.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Barclays upped their price target on shares of KeyCorp from $20.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Monday, January 5th. The Goldman Sachs Group boosted their target price on shares of KeyCorp from $25.00 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday, January 21st. Weiss Ratings reissued a “hold (c+)” rating on shares of KeyCorp in a research note on Monday, December 29th. Jefferies Financial Group raised their price target on shares of KeyCorp from $19.00 to $22.00 and gave the company a “hold” rating in a report on Wednesday, December 10th. Finally, Argus upped their price objective on KeyCorp from $21.00 to $25.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. Eleven research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, KeyCorp presently has an average rating of “Hold” and an average target price of $22.87.

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.