Sequoia Financial Advisors LLC Sells 77,103 Shares of KeyCorp (NYSE:KEY)

Sequoia Financial Advisors LLC cut its holdings in KeyCorp (NYSE:KEYFree Report) by 56.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 58,694 shares of the financial services provider’s stock after selling 77,103 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in KeyCorp were worth $928,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in KEY. Bruce G. Allen Investments LLC purchased a new stake in shares of KeyCorp in the 4th quarter worth approximately $26,000. Sound Income Strategies LLC lifted its holdings in KeyCorp by 3,600.0% during the fourth quarter. Sound Income Strategies LLC now owns 1,887 shares of the financial services provider’s stock worth $27,000 after buying an additional 1,836 shares during the period. First United Bank & Trust bought a new stake in KeyCorp during the 4th quarter valued at $29,000. Baldwin Brothers LLC MA purchased a new position in shares of KeyCorp in the 4th quarter valued at $35,000. Finally, Creative Financial Designs Inc. ADV raised its position in shares of KeyCorp by 195.2% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 2,666 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 1,763 shares in the last quarter. 79.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on KEY shares. Keefe, Bruyette & Woods raised their price objective on KeyCorp from $16.00 to $18.00 and gave the company an “outperform” rating in a research report on Friday, April 5th. Royal Bank of Canada restated an “outperform” rating and issued a $41.00 price target on shares of KeyCorp in a report on Tuesday, June 25th. Wells Fargo & Company boosted their price objective on shares of KeyCorp from $16.00 to $18.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. Jefferies Financial Group increased their target price on shares of KeyCorp from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Finally, JPMorgan Chase & Co. cut their price target on shares of KeyCorp from $17.50 to $16.50 and set a “neutral” rating on the stock in a report on Thursday, June 27th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $17.38.

Read Our Latest Analysis on KeyCorp

KeyCorp Stock Down 2.2 %

KeyCorp stock opened at $13.95 on Friday. The business’s 50-day simple moving average is $14.33 and its two-hundred day simple moving average is $14.46. 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 company has a market cap of $13.15 billion, a PE ratio of 17.66, a PEG ratio of 0.71 and a beta of 1.26. KeyCorp has a fifty-two week low of $9.10 and a fifty-two week high of $15.86.

KeyCorp (NYSE:KEYGet Free Report) last issued its earnings results on Thursday, April 18th. The financial services provider reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). KeyCorp had a net margin of 7.53% and a return on equity of 8.89%. The firm had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.51 billion. During the same quarter in the prior year, the company earned $0.44 EPS. KeyCorp’s quarterly revenue was down 10.6% on a year-over-year basis. Equities analysts anticipate that KeyCorp will post 1.13 EPS for the current year.

KeyCorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Tuesday, May 28th were paid a $0.205 dividend. The ex-dividend date was Friday, May 24th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 5.88%. KeyCorp’s payout ratio is currently 103.80%.

About KeyCorp

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for KeyCorp (NYSE:KEY)

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