GWM Advisors LLC reduced its position in KeyCorp (NYSE:KEY) by 1.6% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 88,682 shares of the financial services provider’s stock after selling 1,441 shares during the period. GWM Advisors LLC’s holdings in KeyCorp were worth $1,080,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently added to or reduced their stakes in the company. Procyon Private Wealth Partners LLC increased its position in KeyCorp by 77.2% in the first quarter. Procyon Private Wealth Partners LLC now owns 2,373 shares of the financial services provider’s stock worth $25,000 after buying an additional 1,034 shares during the last quarter. WASHINGTON TRUST Co purchased a new stake in KeyCorp in the first quarter worth $31,000. Bartlett & Co. LLC purchased a new position in shares of KeyCorp in the first quarter valued at $32,000. Verus Capital Partners LLC purchased a new position in shares of KeyCorp in the fourth quarter valued at $34,000. Finally, Hillsdale Investment Management Inc. purchased a new position in shares of KeyCorp in the first quarter valued at $34,000. 79.38% of the stock is owned by institutional investors and hedge funds.
In related news, insider Angela G. Mago sold 3,646 shares of the business’s stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $12.46, for a total transaction of $45,429.16. Following the transaction, the insider now owns 171,829 shares in the company, valued at approximately $2,140,989.34. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.70% of the company’s stock.
Several brokerages have recently weighed in on KEY. BofA Securities cut KeyCorp from a “neutral” rating to an “underperform” rating and reduced their price target for the company from $15.00 to $12.00 in a research report on Friday, July 10th. Argus reduced their price target on KeyCorp from $22.00 to $15.00 and set a “buy” rating for the company in a research report on Monday, April 20th. Stephens cut KeyCorp from an “overweight” rating to an “equal weight” rating and set a $13.00 price target for the company. in a research report on Wednesday, June 3rd. Wedbush reiterated an “outperform” rating on shares of KeyCorp in a research report on Tuesday, April 7th. Finally, Odeon Capital Group lowered KeyCorp from a “buy” rating to a “hold” rating in a research note on Wednesday, July 22nd. Five investment analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $18.68.
NYSE KEY opened at $12.01 on Friday. KeyCorp has a 1-year low of $7.45 and a 1-year high of $20.52. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.88. The stock has a 50-day moving average of $12.26 and a 200-day moving average of $13.61. The firm has a market cap of $11.71 billion, a PE ratio of 10.63, a price-to-earnings-growth ratio of 2.22 and a beta of 1.53.
KeyCorp (NYSE:KEY) last released its earnings results on Wednesday, July 22nd. The financial services provider reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.07. KeyCorp had a return on equity of 8.52% and a net margin of 15.85%. The company had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same quarter in the previous year, the company posted $0.44 EPS. KeyCorp’s revenue for the quarter was up 6.6% on a year-over-year basis. As a group, equities research analysts forecast that KeyCorp will post 0.95 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be paid a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a dividend yield of 6.16%. The ex-dividend date of this dividend is Monday, August 31st. KeyCorp’s dividend payout ratio (DPR) is presently 41.11%.
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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