SG Americas Securities LLC Has $9.60 Million Position in KeyCorp $KEY

SG Americas Securities LLC boosted its stake in shares of KeyCorp (NYSE:KEY) by 131.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 465,075 shares of the financial services provider’s stock after acquiring an additional 264,475 shares during the period. SG Americas Securities LLC’s holdings in KeyCorp were worth $9,599,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of KEY. United Community Bank bought a new position in shares of KeyCorp in the third quarter worth $27,000. GoalVest Advisory LLC bought a new stake in KeyCorp during the fourth quarter worth about $30,000. Sachetta LLC lifted its position in 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 purchasing an additional 1,595 shares during the period. Kelleher Financial Advisors acquired a new stake in KeyCorp during the third quarter worth about $32,000. Finally, True Wealth Design LLC grew its stake in KeyCorp by 1,263.5% during the fourth quarter. True Wealth Design LLC now owns 1,718 shares of the financial services provider’s stock worth $35,000 after buying an additional 1,592 shares in the last quarter. 79.69% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other KeyCorp news, Director Trina M. Evans sold 32,695 shares of KeyCorp 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 completion of the sale, the director directly owned 58,719 shares in the company, valued at approximately $1,276,551.06. The trade was a 35.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Andrew J. Paine III sold 65,961 shares of KeyCorp stock in a transaction on Friday, February 6th. The shares were sold at an average price of $23.23, for a total transaction of $1,532,274.03. Following the completion of the sale, the insider owned 166,583 shares of the company’s stock, valued at $3,869,723.09. This represents a 28.36% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 161,506 shares of company stock valued at $3,597,481 over the last 90 days. Company insiders own 0.52% of the company’s stock.

KeyCorp Trading Down 0.1%

KEY opened at $19.43 on Monday. KeyCorp has a fifty-two week low of $12.73 and a fifty-two week 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 firm has a market capitalization of $21.17 billion, a price-to-earnings ratio of 12.78, a PEG ratio of 0.63 and a beta of 1.08. The company’s 50 day moving average price is $20.96 and its two-hundred day moving average price is $19.69.

KeyCorp (NYSE:KEY) last posted its quarterly earnings data 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. KeyCorp had a return on equity of 10.28% and a net margin of 15.97%.The business had revenue of $5.45 billion during the quarter, compared to the consensus estimate of $1.95 billion. During the same period in the prior year, the business posted $0.30 earnings per share. KeyCorp’s quarterly revenue was up 131.8% on a year-over-year basis. As a group, research analysts predict that KeyCorp will post 1.5 earnings per share for the current year.

KeyCorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Tuesday, March 3rd were given a dividend of $0.205 per share. The ex-dividend date of this dividend was Tuesday, March 3rd. This represents a $0.82 dividend on an annualized basis and a yield of 4.2%. KeyCorp’s dividend payout ratio is 53.95%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on KEY shares. DA Davidson set a $25.00 target price on shares of KeyCorp in a research report on Wednesday, January 21st. Argus increased their price target on shares of KeyCorp from $21.00 to $25.00 and gave the stock a “buy” rating in a research report on Thursday, January 22nd. Stephens lifted their price objective on shares of 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 boosted their price objective on shares of KeyCorp from $19.00 to $22.00 and gave the company a “hold” rating in a research report on Wednesday, December 10th. Finally, Royal Bank Of Canada upped their target price on KeyCorp from $20.00 to $22.00 and gave the stock an “outperform” rating in a research note on Friday, December 12th. Twelve analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $22.97.

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.