Insider Selling: KeyCorp (NYSE:KEY) Insider Sells 62,850 Shares of Stock

by · The Cerbat Gem

KeyCorp (NYSE:KEY – Get Free Report) insider Angela Mago sold 62,850 shares of the stock in a transaction dated Thursday, January 29th. The stock was sold at an average price of $21.55, for a total transaction of $1,354,417.50. Following the transaction, the insider directly owned 261,415 shares in the company, valued at $5,633,493.25. This trade represents a 19.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

KeyCorp Stock Up 2.2%

NYSE:KEY traded up $0.48 on Monday, hitting $22.00. The stock had a trading volume of 15,457,565 shares, compared to its average volume of 16,243,963. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.55. KeyCorp has a 52 week low of $12.73 and a 52 week high of $22.07. The business’s fifty day moving average is $20.60 and its 200 day moving average is $19.05. The company has a market cap of $24.04 billion, a PE ratio of 14.47, a P/E/G ratio of 0.52 and a beta of 1.10.

KeyCorp (NYSE:KEY – Get Free Report) last announced its quarterly earnings results on Tuesday, January 20th. The financial services provider reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. KeyCorp had a net margin of 15.97% and a return on equity of 10.28%. The business had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.95 billion. During the same quarter in the previous year, the business posted $0.30 EPS. KeyCorp’s quarterly revenue was up 131.8% on a year-over-year basis. On average, equities research analysts expect that KeyCorp will post 1.5 EPS for the current fiscal year.

KeyCorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Tuesday, March 3rd will be given a dividend of $0.205 per share. The ex-dividend date of this dividend is Tuesday, March 3rd. This represents a $0.82 annualized dividend and a dividend yield of 3.7%. KeyCorp’s payout ratio is presently 53.95%.

Wall Street Analyst Weigh In

KEY has been the subject of a number of research analyst reports. Evercore ISI increased their price target on KeyCorp from $21.00 to $25.00 and gave the company an “outperform” rating in a research report on Tuesday, January 6th. Keefe, Bruyette & Woods boosted their price objective on KeyCorp from $21.00 to $24.00 and gave the company an “outperform” rating in a research note on Wednesday, December 17th. Weiss Ratings reiterated a “hold (c+)” rating on shares of KeyCorp in a research report on Monday, December 29th. Royal Bank Of Canada raised their price objective on shares of KeyCorp from $20.00 to $22.00 and gave the stock an “outperform” rating in a report on Friday, December 12th. Finally, Barclays boosted their target price on shares of KeyCorp from $20.00 to $24.00 and gave the company an “equal weight” rating in a report on Monday, January 5th. Eleven research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $22.68.

Get Our Latest Research Report on KeyCorp

Hedge Funds Weigh In On KeyCorp

Hedge funds and other institutional investors have recently made changes to their positions in the business. Mcdonald Partners LLC boosted its stake in KeyCorp by 34.3% during the fourth quarter. Mcdonald Partners LLC now owns 59,920 shares of the financial services provider’s stock worth $1,237,000 after acquiring an additional 15,290 shares in the last quarter. Artemis Investment Management LLP bought a new stake in shares of KeyCorp in the 4th quarter worth approximately $55,969,000. Caisse Des Depots ET Consignations grew its stake in shares of KeyCorp by 75.1% in the 4th quarter. Caisse Des Depots ET Consignations now owns 121,225 shares of the financial services provider’s stock worth $2,502,000 after buying an additional 52,011 shares during the last quarter. Danske Bank A S grew its stake in shares of KeyCorp by 35.7% in the 4th quarter. Danske Bank A S now owns 518,031 shares of the financial services provider’s stock worth $10,692,000 after buying an additional 136,312 shares during the last quarter. Finally, New York State Teachers Retirement System increased its position in KeyCorp by 11.8% during the 4th quarter. New York State Teachers Retirement System now owns 850,671 shares of the financial services provider’s stock valued at $17,558,000 after buying an additional 89,546 shares in the last quarter. Institutional investors own 79.69% of the company’s stock.

KeyCorp Company Profile

(Get Free Report)

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.

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