Patton Albertson Miller Group LLC cut its position in shares of KeyCorp (NYSE:KEY) by 5.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,280 shares of the financial services provider’s stock after selling 900 shares during the quarter. Patton Albertson Miller Group LLC’s holdings in KeyCorp were worth $186,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cerebellum GP LLC bought a new stake in shares of KeyCorp during the second quarter valued at approximately $45,000. Procyon Private Wealth Partners LLC boosted its position in shares of KeyCorp by 77.2% during the first quarter. Procyon Private Wealth Partners LLC now owns 2,373 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 1,034 shares in the last quarter. WASHINGTON TRUST Co bought a new stake in shares of KeyCorp during the first quarter valued at approximately $31,000. Sterling Investment Advisors Ltd. bought a new stake in shares of KeyCorp during the second quarter valued at approximately $36,000. Finally, Bartlett & Co. LLC bought a new stake in shares of KeyCorp during the first quarter valued at approximately $32,000. Institutional investors own 79.38% of the company’s stock.
In related news, insider Angela G. Mago sold 3,646 shares of the company’s stock in a transaction on Friday, July 24th. The stock was sold at an average price of $12.46, for a total transaction of $45,429.16. Following the completion of the sale, the insider now owns 171,829 shares in the company, valued at $2,140,989.34. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.70% of the stock is currently owned by corporate insiders.
KeyCorp stock traded down $0.22 during mid-day trading on Thursday, reaching $11.95. 373,903 shares of the stock traded hands, compared to its average volume of 7,671,199. The stock has a market capitalization of $11.88 billion, a PE ratio of 10.57, a price-to-earnings-growth ratio of 2.25 and a beta of 1.49. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.92 and a quick ratio of 0.91. KeyCorp has a 12-month low of $7.45 and a 12-month high of $20.52. The business’s 50-day moving average is $12.05 and its 200-day moving average is $12.95.
KeyCorp (NYSE:KEY) last posted its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.07. The company had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.59 billion. KeyCorp had a return on equity of 8.52% and a net margin of 15.85%. KeyCorp’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.44 earnings per share. Equities analysts anticipate that KeyCorp will post 0.95 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be given a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a yield of 6.19%. The ex-dividend date is Monday, August 31st. KeyCorp’s dividend payout ratio (DPR) is presently 41.11%.
Several equities research analysts recently weighed in on KEY shares. Wolfe Research began coverage on KeyCorp in a research report on Friday, July 31st. They set an “underperform” rating on the stock. UBS Group downgraded KeyCorp from a “buy” rating to a “neutral” rating in a report on Monday, May 4th. BofA Securities downgraded KeyCorp from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $15.00 to $12.00 in a report on Friday, July 10th. Morgan Stanley boosted their target price on KeyCorp from $14.00 to $15.25 and gave the stock an “equal weight” rating in a report on Monday, June 8th. Finally, Wells Fargo & Co boosted their target price on KeyCorp from $11.00 to $12.00 in a report on Friday, June 5th. Six analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $17.62.
KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking services in the United States. The company's Key Community Bank segment offers various deposit and investment products, personal finance services, residential mortgages, home equity loans, credit cards, and installment loans.
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