KeyCorp (NYSE:KEY) Shares Sold by TRUE Private Wealth Advisors

TRUE Private Wealth Advisors lessened its holdings in KeyCorp (NYSE:KEY) by 2.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 67,989 shares of the financial services provider’s stock after selling 1,621 shares during the period. TRUE Private Wealth Advisors’ holdings in KeyCorp were worth $1,139,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Financial Advocates Investment Management raised its position in KeyCorp by 2.3% in the third quarter. Financial Advocates Investment Management now owns 26,872 shares of the financial services provider’s stock valued at $450,000 after purchasing an additional 602 shares during the period. HM Payson & Co. lifted its position in KeyCorp by 27.0% during the 3rd quarter. HM Payson & Co. now owns 3,060 shares of the financial services provider’s stock worth $51,000 after acquiring an additional 650 shares in the last quarter. Graypoint LLC boosted its holdings in KeyCorp by 4.7% in the 3rd quarter. Graypoint LLC now owns 14,954 shares of the financial services provider’s stock worth $250,000 after acquiring an additional 675 shares during the period. Vontobel Holding Ltd. grew its position in KeyCorp by 2.1% in the third quarter. Vontobel Holding Ltd. now owns 33,728 shares of the financial services provider’s stock valued at $565,000 after acquiring an additional 679 shares in the last quarter. Finally, Empirical Finance LLC raised its stake in shares of KeyCorp by 2.2% during the third quarter. Empirical Finance LLC now owns 32,361 shares of the financial services provider’s stock valued at $542,000 after purchasing an additional 705 shares during the period. Hedge funds and other institutional investors own 79.69% of the company’s stock.

Wall Street Analysts Forecast Growth

KEY has been the subject of a number of recent analyst reports. Royal Bank of Canada raised their price target on shares of KeyCorp from $17.00 to $18.00 and gave the company an “outperform” rating in a report on Friday, October 18th. Citigroup lowered KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 target price on the stock. in a research report on Thursday, November 7th. UBS Group increased their price target on KeyCorp from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Baird R W downgraded KeyCorp from a “strong-buy” rating to a “hold” rating in a report on Monday, October 14th. Finally, Jefferies Financial Group increased their target price on KeyCorp from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Monday, August 19th. Nine equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, KeyCorp has a consensus rating of “Moderate Buy” and an average target price of $18.26.

Insider Activity

In related news, Director Carlton L. Highsmith sold 9,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $17.14, for a total transaction of $154,260.00. Following the transaction, the director now owns 37,864 shares in the company, valued at $648,988.96. This trade represents a 19.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Angela G. Mago sold 15,011 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $19.59, for a total value of $294,065.49. Following the sale, the insider now directly owns 234,582 shares in the company, valued at approximately $4,595,461.38. The trade was a 6.01 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.61% of the company’s stock.

KeyCorp Price Performance

Shares of NYSE KEY opened at $19.48 on Friday. 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 $19.31 billion, a PE ratio of 1,948.00, a P/E/G ratio of 1.07 and a beta of 1.24. KeyCorp has a 1-year low of $12.22 and a 1-year high of $20.04. The business’s fifty day moving average price is $17.83 and its two-hundred day moving average price is $16.11.

KeyCorp (NYSE:KEY) last posted its earnings results on Thursday, October 17th. The financial services provider reported $0.30 earnings per share (EPS) 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 analyst estimates of $1.59 billion. On average, research analysts expect that KeyCorp will post 1.09 EPS for the current year.

KeyCorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Tuesday, December 3rd will be given a dividend of $0.205 per share. The ex-dividend date is Tuesday, December 3rd. This represents a $0.82 dividend on an annualized basis and a yield of 4.21%. KeyCorp’s dividend payout ratio (DPR) is presently 8,200.00%.

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.