KeyCorp (NYSE:KEY) Stake Trimmed by Metis Global Partners LLC

Metis Global Partners LLC cut its position in shares of KeyCorp (NYSE:KEYFree Report) by 12.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 30,287 shares of the financial services provider’s stock after selling 4,111 shares during the quarter. Metis Global Partners LLC’s holdings in KeyCorp were worth $436,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Nisa Investment Advisors LLC lifted its position in shares of KeyCorp by 8.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 273,010 shares of the financial services provider’s stock valued at $3,931,000 after acquiring an additional 21,395 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of KeyCorp by 35.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 329,655 shares of the financial services provider’s stock worth $4,747,000 after buying an additional 86,579 shares during the period. Miller Howard Investments Inc. NY purchased a new position in shares of KeyCorp during the fourth quarter valued at $7,200,000. Fifth Third Bancorp raised its position in KeyCorp by 1.0% during the fourth quarter. Fifth Third Bancorp now owns 237,934 shares of the financial services provider’s stock valued at $3,426,000 after buying an additional 2,344 shares during the period. Finally, Raymond James & Associates lifted its stake in KeyCorp by 44.1% in the 4th quarter. Raymond James & Associates now owns 1,610,148 shares of the financial services provider’s stock worth $23,186,000 after acquiring an additional 492,584 shares in the last quarter. 79.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other KeyCorp news, insider Kenneth C. Gavrity sold 2,376 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $14.03, for a total value of $33,335.28. Following the completion of the sale, the insider now owns 98,120 shares in the company, valued at approximately $1,376,623.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Kenneth C. Gavrity sold 2,376 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $14.03, for a total value of $33,335.28. Following the completion of the transaction, the insider now owns 98,120 shares in the company, valued at approximately $1,376,623.60. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Angela G. Mago sold 3,405 shares of KeyCorp stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $14.24, for a total transaction of $48,487.20. Following the sale, the insider now owns 214,630 shares in the company, valued at $3,056,331.20. The disclosure for this sale can be found here. Insiders have sold a total of 21,442 shares of company stock valued at $303,914 over the last three months. 0.61% of the stock is owned by corporate insiders.

KeyCorp Stock Performance

KEY opened at $15.08 on Friday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.72. The stock’s 50 day moving average price is $14.92 and its two-hundred day moving average price is $13.84. The firm has a market capitalization of $14.22 billion, a P/E ratio of 19.09 and a beta of 1.28. KeyCorp has a 12-month low of $8.73 and a 12-month high of $15.86.

KeyCorp (NYSE:KEYGet Free Report) last announced its quarterly earnings data on Thursday, April 18th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.01). The company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.51 billion. KeyCorp had a return on equity of 8.89% and a net margin of 7.53%. The company’s revenue was down 10.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.44 EPS. On average, equities analysts forecast that KeyCorp will post 1.14 earnings per share for the current year.

KeyCorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Tuesday, May 28th will be paid a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 5.44%. The ex-dividend date of this dividend is Friday, May 24th. KeyCorp’s payout ratio is presently 103.80%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on KEY. DA Davidson reduced their price target on shares of KeyCorp from $17.00 to $16.00 and set a “buy” rating for the company in a research report on Friday, January 19th. Royal Bank of Canada lifted their target price on shares of KeyCorp from $15.00 to $16.00 and gave the company an “outperform” rating in a research note on Friday, April 19th. JPMorgan Chase & Co. upped their price target on shares of KeyCorp from $16.00 to $18.00 and gave the stock a “neutral” rating in a research note on Thursday, April 4th. Wells Fargo & Company lifted their price objective on KeyCorp from $16.00 to $18.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Finally, Morgan Stanley upped their target price on KeyCorp from $12.00 to $16.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 7th. One analyst has rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $15.71.

Read Our Latest Research Report on KeyCorp

KeyCorp Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for KeyCorp (NYSE:KEY)

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