Truist Financial Corp Sells 5,065 Shares of KeyCorp $KEY

Truist Financial Corp lessened its holdings in shares of KeyCorp (NYSE:KEY) by 6.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,029 shares of the financial services provider’s stock after selling 5,065 shares during the period. Truist Financial Corp’s holdings in KeyCorp were worth $1,324,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. Greenleaf Trust lifted its stake in KeyCorp by 5.7% in the 2nd quarter. Greenleaf Trust now owns 12,738 shares of the financial services provider’s stock valued at $222,000 after acquiring an additional 691 shares in the last quarter. Centennial Wealth Advisory LLC lifted its stake in KeyCorp by 5.9% in the 2nd quarter. Centennial Wealth Advisory LLC now owns 42,754 shares of the financial services provider’s stock valued at $745,000 after acquiring an additional 2,384 shares in the last quarter. Janney Montgomery Scott LLC lifted its stake in KeyCorp by 17.8% in the 2nd quarter. Janney Montgomery Scott LLC now owns 195,914 shares of the financial services provider’s stock valued at $3,413,000 after acquiring an additional 29,652 shares in the last quarter. GC Wealth Management RIA LLC bought a new stake in KeyCorp in the 2nd quarter valued at approximately $180,000. Finally, Paragon Capital Management Ltd bought a new stake in KeyCorp in the 2nd quarter valued at approximately $240,000. Institutional investors own 79.69% of the company’s stock.

KeyCorp Stock Down 5.4%

NYSE:KEY opened at $17.19 on Monday. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $18.85 billion, a price-to-earnings ratio of -245.57, a price-to-earnings-growth ratio of 0.55 and a beta of 1.15. KeyCorp has a twelve month low of $12.73 and a twelve month high of $20.04. The stock’s 50 day moving average price is $18.58 and its two-hundred day moving average price is $17.03.

KeyCorp (NYSE:KEY) last posted its earnings results on Tuesday, July 22nd. The financial services provider reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. The business had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.81 billion. KeyCorp had a return on equity of 9.65% and a net margin of 1.49%.The firm’s revenue was up 20.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.25 EPS. Equities research 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 of this dividend was Tuesday, September 2nd. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.8%. KeyCorp’s payout ratio is presently -1,171.43%.

Insider Buying and Selling

In related news, CEO Christopher M. Gorman sold 112,149 shares of the business’s stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $18.86, for a total transaction of $2,115,130.14. Following the transaction, the chief executive officer directly owned 619,895 shares of the company’s stock, valued at approximately $11,691,219.70. The trade was a 15.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Andrew J. Paine III sold 44,953 shares of the business’s stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $19.29, for a total value of $867,143.37. Following the transaction, the insider directly owned 245,044 shares in the company, valued at $4,726,898.76. The trade was 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 have sold 174,102 shares of company stock valued at $3,299,664. 0.52% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have 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 note on Wednesday, July 2nd. Truist Financial boosted their target price on KeyCorp from $17.00 to $19.00 and gave the company a “hold” rating in a research note on Monday, July 28th. Bank of America boosted their target price on KeyCorp from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Monday, June 16th. UBS Group boosted their price target on KeyCorp from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Tuesday, October 7th. Finally, JPMorgan Chase & Co. boosted their price target on KeyCorp from $19.00 to $19.50 and gave the stock a “neutral” rating in a research report on Friday. Ten analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $20.86.

KeyCorp Profile

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.