SG Americas Securities LLC Has $1.88 Million Stock Holdings in KeyCorp (NYSE:KEY)

SG Americas Securities LLC reduced its stake in shares of KeyCorp (NYSE:KEY) by 24.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 117,330 shares of the financial services provider’s stock after selling 36,973 shares during the period. SG Americas Securities LLC’s holdings in KeyCorp were worth $1,876,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of KEY. TCTC Holdings LLC lifted its position in KeyCorp by 38.6% in the 4th quarter. TCTC Holdings LLC now owns 2,195 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 611 shares in the last quarter. Signaturefd LLC lifted its holdings in shares of KeyCorp by 16.0% in the fourth quarter. Signaturefd LLC now owns 4,453 shares of the financial services provider’s stock valued at $76,000 after purchasing an additional 614 shares in the last quarter. Modera Wealth Management LLC boosted its position in shares of KeyCorp by 3.9% during the fourth quarter. Modera Wealth Management LLC now owns 16,521 shares of the financial services provider’s stock worth $283,000 after buying an additional 627 shares during the period. Integrated Wealth Concepts LLC grew its holdings in shares of KeyCorp by 2.6% during the fourth quarter. Integrated Wealth Concepts LLC now owns 24,679 shares of the financial services provider’s stock worth $423,000 after buying an additional 631 shares in the last quarter. Finally, Proactive Wealth Strategies LLC raised its position in KeyCorp by 4.1% in the 4th quarter. Proactive Wealth Strategies LLC now owns 17,886 shares of the financial services provider’s stock valued at $307,000 after buying an additional 699 shares during the last quarter. Institutional investors own 79.69% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on KEY. Evercore ISI set a $17.00 price target on shares of KeyCorp in a research note on Monday, April 28th. Barclays lowered their price target on shares of KeyCorp from $21.00 to $20.00 and set an “equal weight” rating on the stock in a research note on Monday, April 21st. Keefe, Bruyette & Woods reduced their price objective on shares of KeyCorp from $20.00 to $18.00 and set an “outperform” rating for the company in a research note on Monday, April 21st. Baird R W upgraded KeyCorp from a “hold” rating to a “strong-buy” rating in a report on Monday, April 7th. Finally, Cowen started coverage on KeyCorp in a report on Wednesday, May 14th. They set a “hold” rating on the stock. Eleven research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.86.

Insider Buying and Selling at KeyCorp

In other KeyCorp news, insider Mohit Ramani acquired 10,000 shares of the company’s stock in a transaction dated Monday, April 21st. The shares were bought at an average cost of $13.75 per share, with a total value of $137,500.00. Following the purchase, the insider now directly owns 10,000 shares of the company’s stock, valued at $137,500. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Amy G. Brady sold 19,000 shares of the company’s stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $16.09, for a total value of $305,710.00. Following the sale, the insider now owns 82,523 shares in the company, valued at approximately $1,327,795.07. The trade was a 18.71% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.52% of the company’s stock.

KeyCorp Trading Down 3.0%

KEY opened at $15.63 on Monday. The stock has a market capitalization of $17.12 billion, a price-to-earnings ratio of -52.08, a P/E/G ratio of 0.65 and a beta of 1.09. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.77. KeyCorp has a twelve month low of $12.73 and a twelve month high of $20.04. The company has a 50-day simple moving average of $15.34 and a 200 day simple moving average of $16.46.

KeyCorp (NYSE:KEY) last released its earnings results on Thursday, April 17th. The financial services provider reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.01. KeyCorp had a positive return on equity of 8.73% and a negative net margin of 2.52%. The firm had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same period in the prior year, the company earned $0.20 earnings per share. Analysts predict that KeyCorp will post 1.5 EPS for the current fiscal year.

KeyCorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Tuesday, May 27th were paid a $0.205 dividend. The ex-dividend date of this dividend was Tuesday, May 27th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 5.25%. KeyCorp’s payout ratio is currently -482.35%.

KeyCorp declared that its board has initiated a share repurchase program on Thursday, March 13th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the financial services provider to repurchase up to 6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

KeyCorp 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.