Mackenzie Financial Corp Sells 140,365 Shares of KeyCorp (NYSE:KEY)

Mackenzie Financial Corp cut its stake in KeyCorp (NYSE:KEYGet Rating) by 35.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 254,399 shares of the financial services provider’s stock after selling 140,365 shares during the quarter. Mackenzie Financial Corp’s holdings in KeyCorp were worth $4,383,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Fagan Associates Inc. grew its position in KeyCorp by 3.2% during the first quarter. Fagan Associates Inc. now owns 16,081 shares of the financial services provider’s stock valued at $360,000 after buying an additional 506 shares during the period. 1ST Source Bank grew its position in KeyCorp by 0.9% during the second quarter. 1ST Source Bank now owns 62,109 shares of the financial services provider’s stock valued at $1,070,000 after buying an additional 571 shares during the period. Parallel Advisors LLC grew its position in KeyCorp by 6.8% during the second quarter. Parallel Advisors LLC now owns 9,468 shares of the financial services provider’s stock valued at $163,000 after buying an additional 601 shares during the period. Global Retirement Partners LLC grew its position in KeyCorp by 13.6% during the second quarter. Global Retirement Partners LLC now owns 5,624 shares of the financial services provider’s stock valued at $97,000 after buying an additional 673 shares during the period. Finally, Woodward Diversified Capital LLC lifted its holdings in KeyCorp by 4.1% during the second quarter. Woodward Diversified Capital LLC now owns 17,458 shares of the financial services provider’s stock valued at $301,000 after purchasing an additional 689 shares in the last quarter. 83.58% of the stock is currently owned by institutional investors.

KeyCorp Price Performance

KEY stock opened at $18.61 on Monday. The company’s fifty day moving average price is $17.40 and its 200-day moving average price is $18.00. KeyCorp has a one year low of $15.26 and a one year high of $27.17. The company has a market capitalization of $17.36 billion, a PE ratio of 8.54, a price-to-earnings-growth ratio of 0.48 and a beta of 1.29. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.83 and a current ratio of 0.83.

KeyCorp (NYSE:KEYGet Rating) last announced its quarterly earnings results on Thursday, October 20th. The financial services provider reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.03). KeyCorp had a return on equity of 15.81% and a net margin of 26.66%. During the same quarter in the prior year, the firm posted $0.65 earnings per share. On average, equities analysts anticipate that KeyCorp will post 2.13 EPS for the current fiscal year.

KeyCorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Tuesday, November 29th will be given a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 4.41%. The ex-dividend date is Monday, November 28th. This is a boost from KeyCorp’s previous quarterly dividend of $0.20. KeyCorp’s payout ratio is currently 35.78%.

Insider Buying and Selling

In related news, Director Carlton L. Highsmith sold 5,200 shares of the business’s stock in a transaction on Wednesday, September 14th. The shares were sold at an average price of $17.59, for a total value of $91,468.00. Following the sale, the director now owns 64,139 shares in the company, valued at $1,128,205.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.54% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on KEY. StockNews.com began coverage on shares of KeyCorp in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Wedbush reaffirmed a “neutral” rating and set a $18.00 price target on shares of KeyCorp in a report on Wednesday, September 28th. TheStreet raised shares of KeyCorp from a “c+” rating to a “b” rating in a report on Thursday, November 10th. Morgan Stanley lowered their price target on shares of KeyCorp from $23.00 to $22.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 5th. Finally, Royal Bank of Canada lowered their price target on shares of KeyCorp from $29.00 to $24.00 and set an “outperform” rating on the stock in a report on Friday, October 21st. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $21.64.

About KeyCorp

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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; and personal finance and financial wellness, student loan refinancing, mortgage and home equity, lending, credit card, treasury, business advisory, wealth management, asset management, investment, cash management, portfolio management, and trust and related services to individuals and small and medium-sized businesses.

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Institutional Ownership by Quarter for KeyCorp (NYSE:KEY)

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