KeyCorp (NYSE:KEY) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. reduced its holdings in KeyCorp (NYSE:KEY) by 45.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 891,336 shares of the financial services provider’s stock after selling 730,816 shares during the period. Envestnet Asset Management Inc. owned approximately 0.08% of KeyCorp worth $14,252,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Whittier Trust Co. lifted its stake in shares of KeyCorp by 110.3% in the fourth quarter. Whittier Trust Co. now owns 1,525 shares of the financial services provider’s stock worth $26,000 after buying an additional 800 shares in the last quarter. Fourth Dimension Wealth LLC purchased a new position in shares of KeyCorp in the fourth quarter worth about $28,000. FSC Wealth Advisors LLC purchased a new position in shares of KeyCorp in the first quarter worth about $34,000. NBC Securities Inc. lifted its stake in shares of KeyCorp by 123,900.0% in the first quarter. NBC Securities Inc. now owns 2,480 shares of the financial services provider’s stock worth $39,000 after buying an additional 2,478 shares in the last quarter. Finally, Capital Advisors Ltd. LLC lifted its stake in shares of KeyCorp by 44.1% in the first quarter. Capital Advisors Ltd. LLC now owns 2,504 shares of the financial services provider’s stock worth $40,000 after buying an additional 766 shares in the last quarter. 79.69% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Carlton L. Highsmith sold 5,000 shares of the business’s stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $16.60, for a total transaction of $83,000.00. Following the completion of the transaction, the director directly owned 37,177 shares of the company’s stock, valued at approximately $617,138.20. The trade was a 11.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Mohit Ramani acquired 10,000 shares of the 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 completion of the transaction, the insider owned 10,000 shares of the company’s stock, valued at approximately $137,500. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 0.52% of the company’s stock.

Wall Street Analyst Weigh In

KEY has been the topic of several recent research reports. UBS Group raised shares of KeyCorp from a “neutral” rating to a “buy” rating and boosted their price target for the company from $16.00 to $22.00 in a research report on Tuesday, July 8th. 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 report on Monday, April 21st. Royal Bank Of Canada reissued an “outperform” rating on shares of KeyCorp in a research report on Thursday, April 17th. Jefferies Financial Group initiated coverage on shares of KeyCorp in a research report on Wednesday, May 21st. They set a “hold” rating and a $18.00 price target on the stock. Finally, JPMorgan Chase & Co. lowered their price target on shares of KeyCorp from $18.50 to $16.50 and set a “neutral” rating on the stock in a research report on Thursday, April 3rd. Eleven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, KeyCorp has an average rating of “Moderate Buy” and an average price target of $19.18.

KeyCorp Stock Up 0.8%

Shares of NYSE:KEY opened at $18.52 on Friday. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.84 and a quick ratio of 0.83. The firm has a market capitalization of $20.30 billion, a PE ratio of -108.94, a price-to-earnings-growth ratio of 0.68 and a beta of 1.11. The firm’s 50-day moving average is $16.80 and its two-hundred day moving average is $16.41. KeyCorp has a 1 year low of $12.73 and a 1 year high of $20.04.

KeyCorp (NYSE:KEY) last issued its quarterly earnings results on Thursday, April 17th. The financial services provider reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.01. The company had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.77 billion. KeyCorp had a negative net margin of 0.12% and a positive return on equity of 9.43%. During the same period in the prior year, the firm earned $0.20 earnings per share. Analysts predict that KeyCorp will post 1.5 EPS for the current year.

KeyCorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $0.205 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $0.82 dividend on an annualized basis and a yield of 4.43%. KeyCorp’s dividend payout ratio (DPR) is presently -482.35%.

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.