Truvestments Capital LLC Acquires Shares of 3,300 KeyCorp (NYSE:KEY)

Truvestments Capital LLC acquired a new stake in KeyCorp (NYSE:KEY) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 3,300 shares of the financial services provider’s stock, valued at approximately $55,000.

Other large investors have also recently added to or reduced their stakes in the company. Wolff Wiese Magana LLC increased its stake in KeyCorp by 285.5% in the 3rd quarter. Wolff Wiese Magana LLC now owns 1,542 shares of the financial services provider’s stock valued at $26,000 after buying an additional 1,142 shares during the period. Pathway Financial Advisers LLC acquired a new position in KeyCorp in the 1st quarter valued at approximately $25,000. American Capital Advisory LLC acquired a new position in KeyCorp in the 3rd quarter valued at approximately $28,000. Larson Financial Group LLC increased its stake in KeyCorp by 90.8% in the 3rd quarter. Larson Financial Group LLC now owns 1,929 shares of the financial services provider’s stock valued at $32,000 after buying an additional 918 shares during the period. Finally, Catalyst Capital Advisors LLC acquired a new position in KeyCorp in the 3rd quarter valued at approximately $35,000. Institutional investors and hedge funds own 79.69% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on KEY shares. Robert W. Baird lowered shares of KeyCorp from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $18.00 to $17.00 in a research note on Monday, October 14th. Barclays increased their price target on shares of KeyCorp from $16.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. DA Davidson increased their price target on shares of KeyCorp from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Baird R W lowered shares of KeyCorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 14th. Finally, Wedbush increased their price target on shares of KeyCorp from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 24th. Nine investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $18.26.

Insider Transactions at KeyCorp

In other news, Director Carlton L. Highsmith sold 9,000 shares of the firm’s 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 transaction, the director now directly owns 37,864 shares of the company’s stock, valued at approximately $648,988.96. This trade represents a 19.20 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Angela G. Mago sold 15,011 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was 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 ownership of the stock. The disclosure for this sale can be found here. 0.61% of the stock is owned by insiders.

KeyCorp Price Performance

Shares of KeyCorp stock opened at $19.52 on Thursday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.88 and a quick ratio of 0.88. KeyCorp has a fifty-two week low of $11.64 and a fifty-two week high of $20.04. The firm has a fifty day moving average price of $17.74 and a two-hundred day moving average price of $16.06. The company has a market cap of $19.35 billion, a PE ratio of 1,952.00, a price-to-earnings-growth ratio of 1.08 and a beta of 1.24.

KeyCorp (NYSE:KEY) last issued its quarterly earnings results on Thursday, October 17th. The financial services provider reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.03. KeyCorp had a net margin of 0.76% and a return on equity of 8.24%. The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.59 billion. Analysts expect that KeyCorp will post 1.09 EPS for the current year.

KeyCorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Tuesday, December 3rd will be issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date of this dividend is Tuesday, December 3rd. KeyCorp’s payout ratio is 8,200.00%.

KeyCorp 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.