KeyCorp $KEY Shares Sold by LSV Asset Management

LSV Asset Management lessened its stake in shares of KeyCorp (NYSE:KEY) by 75.8% during the third quarter, Holdings Channel.com reports. The fund owned 90,100 shares of the financial services provider’s stock after selling 282,000 shares during the period. LSV Asset Management’s holdings in KeyCorp were worth $1,684,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in KEY. United Community Bank bought a new stake in shares of KeyCorp in the 3rd quarter worth $27,000. Sachetta LLC grew its holdings in KeyCorp by 1,246.1% during the third quarter. Sachetta LLC now owns 1,723 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 1,595 shares during the period. Root Financial Partners LLC bought a new stake in KeyCorp in the third quarter worth about $37,000. Elevation Point Wealth Partners LLC acquired a new stake in KeyCorp in the 2nd quarter valued at about $36,000. Finally, Capital A Wealth Management LLC boosted its position in shares of KeyCorp by 252.8% during the 2nd quarter. Capital A Wealth Management LLC now owns 2,237 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 1,603 shares in the last quarter. 79.69% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Andrew J. Paine III sold 65,961 shares of the company’s stock in a transaction 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 transaction, the insider directly owned 166,583 shares of the company’s stock, valued at approximately $3,869,723.09. This represents a 28.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Angela G. Mago sold 62,850 shares of the stock in a transaction on Thursday, January 29th. The stock was sold at an average price of $21.55, for a total value of $1,354,417.50. Following the sale, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 161,506 shares of company stock worth $3,597,481 in the last quarter. 0.52% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

KEY has been the subject of several recent research reports. Jefferies Financial Group increased their target price on shares of KeyCorp from $19.00 to $22.00 and gave the company a “hold” rating in a research note on Wednesday, December 10th. Barclays increased their price objective on KeyCorp from $20.00 to $24.00 and gave the company an “equal weight” rating in a research report on Monday, January 5th. Evercore lifted their target price on KeyCorp from $25.00 to $26.00 and gave the stock an “outperform” rating in a report on Thursday, February 5th. Evercore ISI upped their target price on KeyCorp from $25.00 to $26.00 and gave the company an “outperform” rating in a report on Thursday, February 5th. Finally, DA Davidson set a $25.00 price target on KeyCorp in a research report on Wednesday, January 21st. Twelve investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, KeyCorp has an average rating of “Hold” and an average target price of $23.03.

KeyCorp Stock Performance

Shares of KeyCorp stock opened at $21.67 on Tuesday. KeyCorp has a 12 month low of $12.73 and a 12 month high of $23.34. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.55. The stock has a market cap of $23.68 billion, a PE ratio of 14.25, a price-to-earnings-growth ratio of 0.53 and a beta of 1.10. The business has a fifty day simple moving average of $21.35 and a 200-day simple moving average of $19.34.

KeyCorp (NYSE:KEY) last announced its quarterly earnings data 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. KeyCorp had a return on equity of 10.28% and a net margin of 15.97%.The firm had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.95 billion. During the same period last year, the company posted $0.30 EPS. The business’s quarterly revenue was up 131.8% compared to the same quarter last year. On average, sell-side analysts anticipate that KeyCorp will post 1.5 EPS for the current fiscal year.

KeyCorp Dividend Announcement

The business also recently disclosed 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. This represents a $0.82 annualized dividend and a yield of 3.8%. The ex-dividend date is Tuesday, March 3rd. KeyCorp’s dividend payout ratio is currently 53.95%.

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.