State of Alaska Department of Revenue Sells 5,845 Shares of KeyCorp $KEY

State of Alaska Department of Revenue trimmed its position in KeyCorp (NYSE:KEY) by 5.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 110,820 shares of the financial services provider’s stock after selling 5,845 shares during the period. State of Alaska Department of Revenue’s holdings in KeyCorp were worth $1,930,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of KEY. Sequoia Financial Advisors LLC lifted its position in KeyCorp by 4.8% during the first quarter. Sequoia Financial Advisors LLC now owns 68,857 shares of the financial services provider’s stock valued at $1,101,000 after purchasing an additional 3,145 shares during the last quarter. Teacher Retirement System of Texas bought a new stake in KeyCorp during the first quarter valued at approximately $2,171,000. Signal Advisors Wealth LLC bought a new stake in KeyCorp during the second quarter valued at approximately $431,000. Gradient Investments LLC bought a new stake in KeyCorp during the second quarter valued at approximately $1,973,000. Finally, Cambridge Investment Research Advisors Inc. lifted its position in KeyCorp by 31.3% during the first 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 during the last quarter. 79.69% of the stock is owned by institutional investors.

KeyCorp Stock Down 0.2%

Shares of NYSE KEY opened at $18.47 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.71. KeyCorp has a 52 week low of $12.73 and a 52 week high of $20.04. The firm’s fifty day moving average is $18.58 and its 200 day moving average is $16.94. The company has a market cap of $20.25 billion, a price-to-earnings ratio of -263.79, a PEG ratio of 0.65 and a beta of 1.15.

KeyCorp (NYSE:KEY) last issued its earnings results on Tuesday, July 22nd. The financial services provider reported $0.35 EPS for the quarter, topping the consensus estimate of $0.34 by $0.01. KeyCorp had a net margin of 1.49% and a return on equity of 9.65%. The company had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.81 billion. During the same period in the previous year, the firm earned $0.25 earnings per share. The firm’s revenue for the quarter was up 20.6% on a year-over-year basis. On average, equities research analysts expect that KeyCorp will post 1.5 earnings per share for the current year.

KeyCorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were paid a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend was Tuesday, September 2nd. KeyCorp’s payout ratio is presently -1,171.43%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Robert W. Baird lowered shares of KeyCorp from an “outperform” rating to a “neutral” rating and set a $18.00 target price for the company. in a research report on Wednesday, July 2nd. Truist Financial lifted their target price on shares of KeyCorp from $17.00 to $19.00 and gave the company a “hold” rating in a research report on Monday, July 28th. UBS Group upgraded shares of KeyCorp from a “neutral” rating to a “buy” rating and lifted their target price for the company from $16.00 to $22.00 in a research report on Tuesday, July 8th. DA Davidson lifted their target price on shares of KeyCorp from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Wednesday, July 23rd. Finally, Morgan Stanley lifted their target price on shares of KeyCorp from $20.00 to $24.00 and gave the company an “underperform” rating in a research report on Monday. Ten equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $20.08.

Insider Buying and Selling

In other KeyCorp news, CEO Christopher M. Gorman sold 112,149 shares of the business’s stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $18.86, for a total transaction of $2,115,130.14. Following the transaction, the chief executive officer directly owned 619,895 shares of the company’s stock, valued at approximately $11,691,219.70. The trade was a 15.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Andrew J. Paine III sold 44,953 shares of the business’s stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $19.29, for a total transaction of $867,143.37. Following the transaction, the insider directly owned 245,044 shares in the company, valued at approximately $4,726,898.76. The trade was a 15.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 174,102 shares of company stock valued at $3,299,664 over the last three months. 0.52% of the stock is owned by company insiders.

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.