Clearstead Advisors LLC Sells 92,525 Shares of KeyCorp $KEY

Clearstead Advisors LLC decreased its stake in shares of KeyCorp (NYSE:KEY) by 8.1% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 1,053,754 shares of the financial services provider’s stock after selling 92,525 shares during the period. Clearstead Advisors LLC owned 0.10% of KeyCorp worth $19,695,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. Marshall Wace LLP boosted its holdings in shares of KeyCorp by 2,258.4% during the 2nd quarter. Marshall Wace LLP now owns 2,572,980 shares of the financial services provider’s stock worth $44,821,000 after buying an additional 2,463,880 shares during the period. Prudential Financial Inc. lifted its position in KeyCorp by 9.9% during the 2nd quarter. Prudential Financial Inc. now owns 575,108 shares of the financial services provider’s stock worth $10,018,000 after acquiring an additional 51,705 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in KeyCorp by 2.7% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,013,977 shares of the financial services provider’s stock valued at $37,641,000 after acquiring an additional 53,682 shares during the period. HoldCo Asset Management LP acquired a new stake in shares of KeyCorp in the second quarter valued at about $86,995,000. Finally, Korea Investment CORP grew its position in shares of KeyCorp by 175.5% in the second quarter. Korea Investment CORP now owns 447,252 shares of the financial services provider’s stock valued at $7,791,000 after purchasing an additional 284,928 shares during the last quarter. 79.69% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Stephens increased their target price on KeyCorp from $21.00 to $23.00 and gave the company an “overweight” rating in a research note on Thursday, December 18th. Jefferies Financial Group increased their price objective on KeyCorp from $19.00 to $22.00 and gave the company a “hold” rating in a research report on Wednesday, December 10th. Citigroup restated a “neutral” rating on shares of KeyCorp in a research note on Wednesday, December 31st. Wells Fargo & Company set a $18.00 target price on shares of KeyCorp and gave the stock an “underperform” rating in a research report on Tuesday, January 6th. Finally, The Goldman Sachs Group increased their price target on shares of KeyCorp from $25.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday, January 21st. Eleven investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $22.87.

KeyCorp Stock Up 1.7%

Shares of KEY stock opened at $22.17 on Monday. KeyCorp has a one year low of $12.73 and a one year high of $23.34. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.83 and a quick ratio of 0.82. The stock has a fifty day moving average price of $21.47 and a 200 day moving average price of $19.45. The stock has a market cap of $24.23 billion, a P/E ratio of 14.58, a price-to-earnings-growth ratio of 0.66 and a beta of 1.10.

KeyCorp (NYSE:KEY) last announced its quarterly earnings data on Tuesday, January 20th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. KeyCorp had a net margin of 15.97% and a return on equity of 10.28%. The company had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.95 billion. During the same quarter in the prior year, the company posted $0.30 EPS. The business’s revenue was up 131.8% on a year-over-year basis. Analysts predict that KeyCorp will post 1.5 earnings per share for the current year.

KeyCorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Tuesday, March 3rd will be paid a dividend of $0.205 per share. The ex-dividend date is Tuesday, March 3rd. This represents a $0.82 dividend on an annualized basis and a yield of 3.7%. KeyCorp’s dividend payout ratio (DPR) is currently 53.95%.

Insider Buying and Selling at KeyCorp

In other news, insider Angela G. Mago sold 62,850 shares of the company’s stock in a transaction that occurred on Thursday, January 29th. The stock was sold at an average price of $21.55, for a total value of $1,354,417.50. Following the sale, the insider directly owned 261,415 shares in the company, valued at approximately $5,633,493.25. This represents a 19.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Trina M. Evans sold 32,695 shares of the firm’s stock in a transaction that occurred on Thursday, January 22nd. The stock was sold at an average price of $21.74, for a total value of $710,789.30. Following the transaction, the director owned 58,719 shares of the company’s stock, valued at $1,276,551.06. This trade represents a 35.77% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 161,506 shares of company stock valued at $3,597,481. 0.52% of the stock is currently owned by corporate insiders.

KeyCorp Company Profile

KeyCorp is a bank holding company headquartered in Cleveland, Ohio, that operates through its primary banking subsidiary, KeyBank. It provides a broad range of banking and financial services to individual consumers, small businesses, middle-market companies and large corporations. KeyBank’s offerings span traditional deposit and lending products as well as more specialized financial solutions designed for commercial and institutional clients.

The company’s product and service mix includes retail banking products such as checking and savings accounts, consumer and residential mortgage lending, and auto financing.