AlphaMark Advisors LLC Sells 2,350 Shares of KeyCorp (NYSE:KEY)

AlphaMark Advisors LLC reduced its stake in KeyCorp (NYSE:KEY) by 23.6% during the first quarter, HoldingsChannel.com reports. The firm owned 7,600 shares of the financial services provider’s stock after selling 2,350 shares during the quarter. AlphaMark Advisors LLC’s holdings in KeyCorp were worth $120,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. boosted its holdings in KeyCorp by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 23,416,018 shares of the financial services provider’s stock worth $337,191,000 after acquiring an additional 289,258 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in KeyCorp by 9.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 10,284,913 shares of the financial services provider’s stock worth $148,116,000 after purchasing an additional 902,032 shares in the last quarter. Norges Bank purchased a new stake in KeyCorp during the 4th quarter valued at about $128,203,000. Earnest Partners LLC raised its holdings in KeyCorp by 16.2% in the third quarter. Earnest Partners LLC now owns 8,344,219 shares of the financial services provider’s stock worth $89,784,000 after buying an additional 1,161,216 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. raised its holdings in KeyCorp by 22.4% in the third quarter. Adage Capital Partners GP L.L.C. now owns 8,079,923 shares of the financial services provider’s stock worth $86,940,000 after buying an additional 1,477,262 shares during the last quarter. Hedge funds and other institutional investors own 79.69% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on KEY shares. Royal Bank of Canada reissued an “outperform” rating and set a $41.00 price target on shares of KeyCorp in a research report on Tuesday, June 25th. Keefe, Bruyette & Woods lifted their target price on KeyCorp from $16.00 to $18.00 and gave the stock an “outperform” rating in a report on Friday, April 5th. Argus upped their price target on KeyCorp from $15.00 to $16.00 and gave the company a “buy” rating in a report on Friday, April 19th. Jefferies Financial Group lifted their price objective on KeyCorp from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Finally, Wells Fargo & Company upped their target price on shares of KeyCorp from $16.00 to $18.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. One analyst has rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, KeyCorp has a consensus rating of “Moderate Buy” and a consensus target price of $17.38.

KeyCorp Stock Performance

Shares of KeyCorp stock traded up $0.01 on Monday, hitting $14.22. 11,956,247 shares of the company’s stock were exchanged, compared to its average volume of 14,817,685. KeyCorp has a 1 year low of $9.10 and a 1 year high of $15.86. The company has a 50-day simple moving average of $14.37 and a 200-day simple moving average of $14.47. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.87 and a current ratio of 0.87. The stock has a market capitalization of $13.41 billion, a PE ratio of 18.00, a PEG ratio of 0.72 and a beta of 1.26.

KeyCorp (NYSE:KEY) last released its earnings results on Thursday, April 18th. The financial services provider reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.01). The company had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.51 billion. KeyCorp had a net margin of 7.53% and a return on equity of 8.89%. KeyCorp’s revenue for the quarter was down 10.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.44 earnings per share. As a group, equities analysts anticipate that KeyCorp will post 1.13 EPS for the current year.

KeyCorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Tuesday, May 28th were issued a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 5.77%. The ex-dividend date of this dividend was Friday, May 24th. KeyCorp’s dividend payout ratio is 103.80%.

About KeyCorp

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.