Tidal Investments LLC Sells 69,450 Shares of KeyCorp (NYSE:KEY)

Tidal Investments LLC reduced its holdings in shares of KeyCorp (NYSE:KEY) by 50.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 67,786 shares of the financial services provider’s stock after selling 69,450 shares during the quarter. Tidal Investments LLC’s holdings in KeyCorp were worth $1,135,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brookstone Capital Management bought a new position in shares of KeyCorp in the 2nd quarter valued at $145,000. Raymond James & Associates raised its position in KeyCorp by 9.5% in the second quarter. Raymond James & Associates now owns 1,457,354 shares of the financial services provider’s stock valued at $20,709,000 after purchasing an additional 126,404 shares during the last quarter. Retirement Systems of Alabama grew its holdings in shares of KeyCorp by 0.6% during the second quarter. Retirement Systems of Alabama now owns 207,983 shares of the financial services provider’s stock worth $2,955,000 after purchasing an additional 1,268 shares during the last quarter. Family Firm Inc. acquired a new position in shares of KeyCorp in the second quarter valued at approximately $63,000. Finally, LRI Investments LLC raised its holdings in KeyCorp by 10.1% in the 2nd quarter. LRI Investments LLC now owns 37,553 shares of the financial services provider’s stock valued at $534,000 after buying an additional 3,459 shares during the last quarter. Institutional investors own 79.69% of the company’s stock.

Insider Activity

In other KeyCorp news, insider Angela G. Mago sold 15,011 shares of KeyCorp stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $19.59, for a total transaction of $294,065.49. Following the transaction, the insider now directly owns 234,582 shares of the company’s stock, valued at $4,595,461.38. The trade was a 6.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Carlton L. Highsmith sold 9,000 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $17.14, for a total transaction of $154,260.00. Following the completion of the sale, the director now owns 37,864 shares of the company’s stock, valued at approximately $648,988.96. This represents a 19.20 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.67% of the company’s stock.

KeyCorp Stock Performance

Shares of KeyCorp stock opened at $16.81 on Friday. The business has a 50-day simple moving average of $18.29 and a 200 day simple moving average of $16.45. KeyCorp has a one year low of $12.94 and a one year high of $20.04. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a market capitalization of $16.66 billion, a price-to-earnings ratio of 1,681.00, a PEG ratio of 1.00 and a beta of 1.25.

KeyCorp (NYSE:KEY) last issued its earnings results on Thursday, October 17th. The financial services provider reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.03. KeyCorp had a return on equity of 8.24% and a net margin of 0.76%. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.59 billion. On average, research analysts anticipate that KeyCorp will post 1.09 earnings per share for the current fiscal year.

KeyCorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Tuesday, December 3rd were paid a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.88%. The ex-dividend date of this dividend was Tuesday, December 3rd. KeyCorp’s dividend payout ratio (DPR) is 8,200.00%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on KEY. Robert W. Baird downgraded shares of KeyCorp from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $18.00 to $17.00 in a research note on Monday, October 14th. Wells Fargo & Company lifted their target price on KeyCorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Baird R W lowered KeyCorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 14th. Evercore ISI raised their price objective on KeyCorp from $18.50 to $20.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Finally, DA Davidson upped their target price on KeyCorp from $19.00 to $20.00 and gave the company a “buy” rating in a report on Monday, October 21st. Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $19.16.

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.