Mutual of America Capital Management LLC Lowers Stock Position in KeyCorp (NYSE:KEY)

Mutual of America Capital Management LLC cut its stake in shares of KeyCorp (NYSE:KEY) by 27.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 115,842 shares of the financial services provider’s stock after selling 43,654 shares during the period. Mutual of America Capital Management LLC’s holdings in KeyCorp were worth $1,852,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Sequoia Financial Advisors LLC lifted its holdings in KeyCorp by 4.8% in the 1st quarter. Sequoia Financial Advisors LLC now owns 68,857 shares of the financial services provider’s stock worth $1,101,000 after buying an additional 3,145 shares in the last quarter. Teacher Retirement System of Texas acquired a new stake in shares of KeyCorp in the 1st quarter valued at about $2,171,000. Cambridge Investment Research Advisors Inc. raised its stake in shares of KeyCorp by 31.3% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 111,757 shares of the financial services provider’s stock valued at $1,787,000 after purchasing an additional 26,615 shares in the last quarter. Asset Management One Co. Ltd. raised its stake in shares of KeyCorp by 4.2% in the 1st quarter. Asset Management One Co. Ltd. now owns 379,514 shares of the financial services provider’s stock valued at $6,068,000 after purchasing an additional 15,367 shares in the last quarter. Finally, Blue Trust Inc. raised its stake in KeyCorp by 41.9% during the first quarter. Blue Trust Inc. now owns 20,786 shares of the financial services provider’s stock worth $332,000 after acquiring an additional 6,135 shares during the period. 79.69% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at KeyCorp

In related 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 completion of the transaction, the insider directly owned 10,000 shares of the company’s stock, valued at $137,500. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Carlton L. Highsmith sold 5,000 shares of the stock in a transaction dated Tuesday, May 13th. The shares were 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 in the company, valued at $617,138.20. The trade was a 11.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Keefe, Bruyette & Woods decreased their target price on shares of KeyCorp from $20.00 to $18.00 and set an “outperform” rating for the company in a research report on Monday, April 21st. Royal Bank Of Canada reiterated an “outperform” rating on shares of KeyCorp in a report on Thursday, April 17th. Wall Street Zen raised shares of KeyCorp from a “sell” rating to a “hold” rating in a research note on Monday, April 21st. Truist Financial cut their target price on shares of KeyCorp from $18.00 to $16.00 and set a “hold” rating for the company in a research note on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. cut their target price on shares of KeyCorp from $18.50 to $16.50 and set a “neutral” rating for the company in a research note on Thursday, April 3rd. Eleven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, KeyCorp currently has a consensus rating of “Moderate Buy” and an average price target of $19.18.

KeyCorp Stock Up 0.8%

KeyCorp stock opened at $18.52 on Friday. The stock has a market capitalization of $20.30 billion, a PE ratio of -108.94, a price-to-earnings-growth ratio of 0.69 and a beta of 1.11. KeyCorp has a twelve month low of $12.73 and a twelve month high of $20.04. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.75. The company has a 50 day moving average of $16.80 and a 200-day moving average of $16.40.

KeyCorp (NYSE:KEY) last announced its earnings results on Thursday, April 17th. The financial services provider reported $0.33 EPS for the quarter, topping the consensus estimate of $0.32 by $0.01. KeyCorp had a negative net margin of 0.12% and a positive return on equity of 9.43%. The business had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter in the prior year, the company posted $0.20 earnings per share. On average, equities research analysts anticipate that KeyCorp will post 1.5 EPS for the current fiscal year.

KeyCorp Dividend Announcement

The company 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 $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 4.43%. The ex-dividend date is Tuesday, September 2nd. KeyCorp’s dividend payout ratio is currently -482.35%.

About KeyCorp

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.