International Assets Investment Management LLC Sells 28,800 Shares of KeyCorp $KEY

International Assets Investment Management LLC cut its holdings in KeyCorp (NYSE:KEY) by 93.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,961 shares of the financial services provider’s stock after selling 28,800 shares during the period. International Assets Investment Management LLC’s holdings in KeyCorp were worth $40,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of KEY. Maseco LLP purchased a new position in KeyCorp in the fourth quarter worth $27,000. DV Equities LLC bought a new position in KeyCorp in the 4th quarter valued at $27,000. GoalVest Advisory LLC purchased a new stake in shares of KeyCorp during the 4th quarter valued at $30,000. Smithfield Trust Co purchased a new stake in shares of KeyCorp during the 4th quarter valued at $31,000. Finally, Kelleher Financial Advisors bought a new stake in shares of KeyCorp during the 3rd quarter worth $32,000. 79.69% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at KeyCorp

In other news, insider Angela G. Mago sold 22,826 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $21.66, for a total value of $494,411.16. Following the sale, the insider owned 281,564 shares of the company’s stock, valued at $6,098,676.24. The trade was a 7.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.56% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on KEY shares. Evercore reissued an “outperform” rating on shares of KeyCorp in a report on Tuesday, April 21st. The Goldman Sachs Group lifted their price objective on shares of KeyCorp from $25.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, April 17th. JPMorgan Chase & Co. boosted their target price on shares of KeyCorp from $22.50 to $24.50 and gave the company a “neutral” rating in a research note on Monday, July 6th. Piper Sandler boosted their target price on shares of KeyCorp from $23.00 to $24.00 and gave the company an “overweight” rating in a research note on Friday, April 17th. Finally, Susquehanna increased their target price on shares of KeyCorp from $300.00 to $415.00 and gave the company a “positive” rating in a research report on Monday, May 18th. Thirteen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $47.34.

KeyCorp Stock Down 1.8%

Shares of NYSE KEY opened at $23.57 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.83 and a quick ratio of 0.83. The stock has a market capitalization of $25.44 billion, a PE ratio of 14.46, a P/E/G ratio of 0.74 and a beta of 1.02. KeyCorp has a one year low of $16.47 and a one year high of $24.07. The business’s fifty day moving average price is $22.29 and its 200-day moving average price is $21.52.

KeyCorp (NYSE:KEY) last announced its quarterly earnings data on Thursday, April 16th. The financial services provider reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.03. KeyCorp had a return on equity of 10.80% and a net margin of 17.03%.The company had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.93 billion. During the same quarter last year, the firm posted $0.38 EPS. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. On average, equities research analysts anticipate that KeyCorp will post 1.82 EPS for the current year.

KeyCorp declared that its board has authorized a share repurchase plan on Wednesday, May 13th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the financial services provider to purchase up to 13% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

KeyCorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be paid a $0.205 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $0.82 annualized dividend and a dividend yield of 3.5%. KeyCorp’s dividend payout ratio (DPR) is presently 50.31%.

About KeyCorp

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.