KeyCorp $KEY Shares Sold by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lowered its stake in KeyCorp (NYSE:KEY) by 6.5% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 10,865,489 shares of the financial services provider’s stock after selling 752,794 shares during the quarter. Dimensional Fund Advisors LP owned 0.99% of KeyCorp worth $203,089,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in KEY. United Community Bank acquired a new stake in shares of KeyCorp in the third quarter valued at about $27,000. Sachetta LLC grew its holdings in shares of KeyCorp by 1,246.1% during the third quarter. Sachetta LLC now owns 1,723 shares of the financial services provider’s stock worth $32,000 after buying an additional 1,595 shares in the last quarter. Root Financial Partners LLC acquired a new position in shares of KeyCorp during the 3rd quarter worth approximately $37,000. Elevation Point Wealth Partners LLC acquired a new stake in shares of KeyCorp in the second quarter valued at approximately $36,000. Finally, Capital A Wealth Management LLC grew its holdings in shares of KeyCorp by 252.8% in the second quarter. Capital A Wealth Management LLC now owns 2,237 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 1,603 shares during the period. Hedge funds and other institutional investors own 79.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on KEY shares. Morgan Stanley lifted their target price on shares of KeyCorp from $24.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Monday, March 2nd. DA Davidson set a $25.00 price target on shares of KeyCorp in a research note on Wednesday, January 21st. Royal Bank Of Canada lifted their price target on shares of KeyCorp from $20.00 to $22.00 and gave the company an “outperform” rating in a research report on Friday, December 12th. The Goldman Sachs Group lifted their price target on shares of KeyCorp from $25.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, January 21st. Finally, Jefferies Financial Group upped their price objective on KeyCorp from $19.00 to $22.00 and gave the company a “hold” rating in a report on Wednesday, December 10th. Twelve analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $23.03.

KeyCorp Trading Down 2.4%

NYSE KEY opened at $19.88 on Monday. 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 market capitalization of $21.66 billion, a P/E ratio of 13.08, a PEG ratio of 0.59 and a beta of 1.08. The firm’s 50-day moving average is $21.44 and its two-hundred day moving average is $19.66. KeyCorp has a 12 month low of $12.73 and a 12 month high of $23.34.

KeyCorp (NYSE:KEY) last announced its quarterly earnings results on Tuesday, January 20th. The financial services provider reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. The business had revenue of $5.45 billion during the quarter, compared to analysts’ expectations of $1.95 billion. KeyCorp had a net margin of 15.97% and a return on equity of 10.28%. The business’s revenue for the quarter was up 131.8% on a year-over-year basis. During the same period last year, the business earned $0.30 earnings per share. On average, sell-side analysts anticipate that KeyCorp will post 1.5 earnings per share for the current year.

KeyCorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Tuesday, March 3rd will be issued a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 4.1%. The ex-dividend date is Tuesday, March 3rd. KeyCorp’s dividend payout ratio (DPR) is 53.95%.

Insider Buying and Selling at KeyCorp

In other KeyCorp news, insider Angela G. Mago sold 62,850 shares of the business’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 owned 261,415 shares of the company’s stock, valued at $5,633,493.25. The trade was a 19.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Andrew J. Paine III sold 65,961 shares of the firm’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $23.23, for a total value of $1,532,274.03. Following the transaction, the insider owned 166,583 shares of the company’s stock, valued at approximately $3,869,723.09. This represents a 28.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 161,506 shares of company stock valued at $3,597,481 over the last quarter. 0.52% of the stock is owned by company insiders.

About KeyCorp

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.