Signaturefd LLC Lowers Stock Holdings in KeyCorp $KEY

Signaturefd LLC lessened its holdings in KeyCorp (NYSE:KEY) by 35.0% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,022 shares of the financial services provider’s stock after selling 2,169 shares during the period. Signaturefd LLC’s holdings in KeyCorp were worth $70,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the company. Tompkins Financial Corp purchased a new position in shares of KeyCorp in the 2nd quarter valued at about $26,000. Zions Bancorporation National Association UT purchased a new position in KeyCorp in the first quarter valued at approximately $28,000. Allworth Financial LP raised its holdings in KeyCorp by 246.9% during the first quarter. Allworth Financial LP now owns 2,168 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 1,543 shares in the last quarter. FSC Wealth Advisors LLC purchased a new stake in shares of KeyCorp during the 1st quarter worth approximately $34,000. Finally, NBC Securities Inc. boosted its holdings in shares of KeyCorp by 123,900.0% in the 1st quarter. NBC Securities Inc. now owns 2,480 shares of the financial services provider’s stock valued at $39,000 after buying an additional 2,478 shares in the last quarter. 79.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at KeyCorp

In other news, Director Trina M. Evans sold 17,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $18.67, for a total transaction of $317,390.00. Following the completion of the sale, the director owned 82,719 shares of the company’s stock, valued at approximately $1,544,363.73. This trade represents a 17.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Andrew J. Paine III sold 44,953 shares of KeyCorp stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $19.29, for a total value of $867,143.37. Following the completion of the transaction, the insider owned 245,044 shares of the company’s stock, valued at $4,726,898.76. This trade represents a 15.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 174,102 shares of company stock worth $3,299,664. Corporate insiders own 0.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on KEY. Robert W. Baird cut KeyCorp from an “outperform” rating to a “neutral” rating and set a $18.00 target price on the stock. in a research report on Wednesday, July 2nd. DA Davidson lifted their price target on KeyCorp from $19.00 to $21.00 and gave the stock a “buy” rating in a research report on Wednesday, July 23rd. Evercore ISI boosted their price objective on KeyCorp from $21.00 to $22.00 and gave the company an “outperform” rating in a research note on Tuesday, September 30th. Weiss Ratings restated a “hold (c)” rating on shares of KeyCorp in a research report on Saturday, September 27th. Finally, Baird R W downgraded shares of KeyCorp from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 2nd. Ten research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, KeyCorp currently has an average rating of “Hold” and an average price target of $20.47.

KeyCorp Price Performance

KEY stock opened at $18.63 on Monday. KeyCorp has a 1 year low of $12.73 and a 1 year high of $20.04. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.83 and a current ratio of 0.84. The stock’s 50 day moving average price is $18.58 and its 200 day moving average price is $16.97. The firm has a market cap of $20.43 billion, a P/E ratio of -266.17, a PEG ratio of 0.65 and a beta of 1.15.

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

KeyCorp Announces Dividend

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

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.