KeyCorp $KEY Stock Position Decreased by Greenwood Capital Associates LLC

Greenwood Capital Associates LLC trimmed its stake in KeyCorp (NYSE:KEY) by 5.3% during the second quarter, HoldingsChannel.com reports. The fund owned 94,778 shares of the financial services provider’s stock after selling 5,277 shares during the period. Greenwood Capital Associates LLC’s holdings in KeyCorp were worth $1,651,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Brighton Jones LLC purchased a new stake in KeyCorp during the fourth quarter valued at about $476,000. Wealth Enhancement Advisory Services LLC boosted its stake in KeyCorp by 22.5% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 102,451 shares of the financial services provider’s stock worth $1,756,000 after purchasing an additional 18,790 shares during the period. GAMMA Investing LLC boosted its position in shares of KeyCorp by 1,652.8% in the first quarter. GAMMA Investing LLC now owns 533,091 shares of the financial services provider’s stock worth $8,524,000 after buying an additional 502,678 shares during the period. Parallel Advisors LLC grew its holdings in shares of KeyCorp by 50.4% during the first quarter. Parallel Advisors LLC now owns 7,501 shares of the financial services provider’s stock valued at $120,000 after buying an additional 2,514 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC acquired a new position in KeyCorp during the first quarter valued at $161,000. 79.69% of the stock is owned by hedge funds and other institutional investors.

KeyCorp Trading Down 0.2%

KeyCorp stock opened at $18.47 on Friday. KeyCorp has a one year low of $12.73 and a one year high of $20.04. The company’s fifty day moving average price is $18.58 and its two-hundred day moving average price is $16.94. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.84 and a quick ratio of 0.83. The company has a market capitalization of $20.25 billion, a price-to-earnings ratio of -263.79, a PEG ratio of 0.65 and a beta of 1.15.

KeyCorp (NYSE:KEY) last released its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.01. KeyCorp had a return on equity of 9.65% and a net margin of 1.49%.The company had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.81 billion. During the same quarter in the prior year, the company posted $0.25 EPS. The firm’s revenue was up 20.6% on a year-over-year basis. On average, analysts forecast that KeyCorp will post 1.5 earnings per share for the current fiscal year.

KeyCorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd were given a $0.205 dividend. 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 4.4%. KeyCorp’s dividend payout ratio (DPR) is currently -1,171.43%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on KEY shares. Baird R W lowered KeyCorp from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 2nd. Wells Fargo & Company boosted their price objective on shares of KeyCorp from $18.00 to $20.00 and gave the company an “overweight” rating in a research report on Tuesday, July 8th. DA Davidson lifted their target price on shares of KeyCorp from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Wednesday, July 23rd. Citigroup reaffirmed a “neutral” rating and issued a $20.00 price target (up from $19.00) on shares of KeyCorp in a research note on Thursday, July 24th. Finally, Robert W. Baird downgraded 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. Ten equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, KeyCorp presently has an average rating of “Hold” and a consensus target price of $20.08.

Insider Transactions at KeyCorp

In related news, Director Trina M. Evans sold 17,000 shares of KeyCorp stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $18.67, for a total value of $317,390.00. Following the transaction, the director owned 82,719 shares in the company, valued at $1,544,363.73. This trade represents a 17.05% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Christopher M. Gorman sold 112,149 shares of the company’s stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $18.86, for a total transaction of $2,115,130.14. Following the sale, the chief executive officer owned 619,895 shares of the company’s stock, valued at $11,691,219.70. This trade represents a 15.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 174,102 shares of company stock worth $3,299,664. 0.52% of the stock is owned by insiders.

KeyCorp Company 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.