KeyCorp (NYSE:KEY) Director Trina Evans Sells 32,695 Shares

KeyCorp (NYSE:KEY) Director Trina Evans sold 32,695 shares of the business’s stock in a transaction that occurred on Thursday, January 22nd. The stock was sold at an average price of $21.74, for a total transaction of $710,789.30. Following the completion of the transaction, the director owned 58,719 shares of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

KeyCorp Stock Down 2.2%

KEY traded down $0.48 during trading on Friday, hitting $21.09. 14,911,443 shares of the company’s stock traded hands, compared to its average volume of 16,388,840. The stock has a market capitalization of $23.05 billion, a price-to-earnings ratio of 13.88, a PEG ratio of 0.53 and a beta of 1.09. The company’s 50 day simple moving average is $20.04 and its two-hundred day simple moving average is $18.89. KeyCorp has a 12-month low of $12.73 and a 12-month high of $22.07. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.55.

KeyCorp (NYSE:KEY) last announced its quarterly earnings results on Tuesday, January 20th. The financial services provider reported $0.41 earnings per share (EPS) 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 firm had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.95 billion. During the same period in the prior year, the company posted $0.30 earnings per share. The company’s quarterly revenue was up 131.8% on a year-over-year basis. Analysts predict that KeyCorp will post 1.5 earnings per share for the current fiscal year.

KeyCorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Tuesday, March 3rd will be paid a $0.205 dividend. The ex-dividend date is Tuesday, March 3rd. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.9%. KeyCorp’s payout ratio is currently 53.95%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on KEY. The Goldman Sachs Group raised their target price on shares of KeyCorp from $25.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday. JPMorgan Chase & Co. lifted their price objective on KeyCorp from $19.50 to $22.00 and gave the stock a “neutral” rating in a report on Tuesday, January 6th. UBS Group raised their target price on KeyCorp from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Tuesday, October 7th. Wells Fargo & Company set a $18.00 price target on KeyCorp and gave the company an “underperform” rating in a research note on Tuesday, January 6th. Finally, Argus raised their price objective on shares of KeyCorp from $21.00 to $25.00 and gave the stock a “buy” rating in a report on Thursday. Eleven equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $22.63.

Institutional Investors Weigh In On KeyCorp

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP increased its position in KeyCorp by 90.2% during the 3rd quarter. Wellington Management Group LLP now owns 36,370,694 shares of the financial services provider’s stock valued at $679,768,000 after purchasing an additional 17,245,128 shares during the period. Geode Capital Management LLC lifted its holdings in KeyCorp by 1.5% during the second quarter. Geode Capital Management LLC now owns 24,676,571 shares of the financial services provider’s stock worth $428,084,000 after buying an additional 359,573 shares during the period. Invesco Ltd. boosted its position in KeyCorp by 2.4% during the 2nd quarter. Invesco Ltd. now owns 21,112,659 shares of the financial services provider’s stock valued at $367,783,000 after acquiring an additional 488,730 shares in the last quarter. Capital World Investors increased its holdings in shares of KeyCorp by 169.2% in the 3rd quarter. Capital World Investors now owns 20,788,957 shares of the financial services provider’s stock valued at $388,546,000 after acquiring an additional 13,067,326 shares during the period. Finally, Franklin Resources Inc. raised its position in shares of KeyCorp by 2.6% in the 3rd quarter. Franklin Resources Inc. now owns 15,799,619 shares of the financial services provider’s stock worth $295,295,000 after acquiring an additional 397,523 shares in the last quarter. 79.69% of the stock is owned by institutional investors.

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.