Cambridge Investment Research Advisors Inc. Sells 7,693 Shares of KeyCorp (NYSE:KEY)

Cambridge Investment Research Advisors Inc. trimmed its stake in shares of KeyCorp (NYSE:KEY) by 6.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 114,914 shares of the financial services provider’s stock after selling 7,693 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in KeyCorp were worth $1,633,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in KEY. Charles Schwab Investment Management Inc. increased its position in shares of KeyCorp by 1.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 23,416,018 shares of the financial services provider’s stock valued at $337,191,000 after buying an additional 289,258 shares during the period. Ontario Teachers Pension Plan Board increased its holdings in KeyCorp by 8.8% during the 1st quarter. Ontario Teachers Pension Plan Board now owns 21,690,319 shares of the financial services provider’s stock worth $342,924,000 after acquiring an additional 1,748,633 shares during the period. Dimensional Fund Advisors LP lifted its stake in KeyCorp by 9.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 10,284,913 shares of the financial services provider’s stock worth $148,116,000 after purchasing an additional 902,032 shares in the last quarter. Earnest Partners LLC boosted its holdings in KeyCorp by 12.7% in the 1st quarter. Earnest Partners LLC now owns 10,090,594 shares of the financial services provider’s stock valued at $159,532,000 after purchasing an additional 1,137,374 shares during the period. Finally, Norges Bank purchased a new position in shares of KeyCorp during the 4th quarter valued at $128,203,000. Hedge funds and other institutional investors own 79.69% of the company’s stock.

KeyCorp Trading Down 1.9 %

Shares of KEY stock opened at $16.73 on Wednesday. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.85 and a quick ratio of 0.85. The business has a 50-day moving average of $15.52 and a 200 day moving average of $14.91. The stock has a market capitalization of $15.78 billion, a PE ratio of 21.18, a P/E/G ratio of 0.95 and a beta of 1.25. KeyCorp has a 1-year low of $9.50 and a 1-year high of $17.20.

KeyCorp (NYSE:KEY) last issued its earnings results on Thursday, July 18th. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.01. KeyCorp had a net margin of 7.35% and a return on equity of 8.64%. The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter last year, the business earned $0.27 earnings per share. The business’s revenue was down 4.3% on a year-over-year basis. As a group, sell-side analysts anticipate that KeyCorp will post 1.09 earnings per share for the current year.

KeyCorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Tuesday, August 27th will be paid a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 4.90%. The ex-dividend date of this dividend is Tuesday, August 27th. KeyCorp’s dividend payout ratio (DPR) is 103.80%.

Analyst Upgrades and Downgrades

KEY has been the topic of a number of recent analyst reports. Wedbush increased their price objective on KeyCorp from $16.00 to $17.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. Jefferies Financial Group lifted their price target on KeyCorp from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Monday, August 19th. JPMorgan Chase & Co. decreased their price objective on shares of KeyCorp from $17.50 to $16.50 and set a “neutral” rating on the stock in a research report on Thursday, June 27th. Evercore ISI dropped their target price on shares of KeyCorp from $17.50 to $16.50 and set an “outperform” rating for the company in a research report on Tuesday, June 25th. Finally, DA Davidson increased their price target on shares of KeyCorp from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Friday, July 19th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, KeyCorp presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.65.

Insider Activity

In related news, Director Carlton L. Highsmith sold 10,000 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $16.21, for a total transaction of $162,100.00. Following the transaction, the director now owns 46,864 shares in the company, valued at approximately $759,665.44. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.61% of the company’s stock.

KeyCorp Company Profile

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.