KeyCorp (NYSE:KEY) Insider Sells $331,560.00 in Stock

KeyCorp (NYSE:KEY) insider Amy G. Brady sold 18,000 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $18.42, for a total value of $331,560.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

KeyCorp (NYSE:KEY) traded down 1.12% during mid-day trading on Friday, reaching $17.59. The company’s stock had a trading volume of 16,152,472 shares. The firm’s 50 day moving average price is $18.48 and its 200 day moving average price is $18.26. KeyCorp has a 52 week low of $11.89 and a 52 week high of $19.53. The firm has a market capitalization of $19.13 billion, a P/E ratio of 17.47 and a beta of 1.11.

KeyCorp (NYSE:KEY) last issued its earnings results on Thursday, July 20th. The financial services provider reported $0.34 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.34. The business had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.53 billion. KeyCorp had a return on equity of 9.88% and a net margin of 16.62%. KeyCorp’s revenue was up 52.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.27 earnings per share. On average, analysts anticipate that KeyCorp will post $1.36 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Tuesday, August 29th will be given a $0.095 dividend. The ex-dividend date is Friday, August 25th. This represents a $0.38 annualized dividend and a dividend yield of 2.16%. KeyCorp’s dividend payout ratio (DPR) is presently 38.78%.

KeyCorp announced that its Board of Directors has approved a stock buyback program on Wednesday, June 28th that allows the company to repurchase $800.00 million in shares. This repurchase authorization allows the financial services provider to buy up to 4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

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Several hedge funds have recently modified their holdings of the company. Caisse DE Depot ET Placement DU Quebec raised its stake in shares of KeyCorp by 447.1% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,182,062 shares of the financial services provider’s stock valued at $21,040,000 after buying an additional 966,000 shares in the last quarter. Trust Co. of Toledo NA OH raised its stake in shares of KeyCorp by 0.4% in the second quarter. Trust Co. of Toledo NA OH now owns 42,951 shares of the financial services provider’s stock valued at $805,000 after buying an additional 178 shares in the last quarter. Bollard Group LLC raised its stake in shares of KeyCorp by 5.8% in the first quarter. Bollard Group LLC now owns 121,204 shares of the financial services provider’s stock valued at $2,155,000 after buying an additional 6,610 shares in the last quarter. James Investment Research Inc. raised its stake in shares of KeyCorp by 1.3% in the first quarter. James Investment Research Inc. now owns 1,077,660 shares of the financial services provider’s stock valued at $19,161,000 after buying an additional 14,300 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its stake in shares of KeyCorp by 62.1% in the second quarter. State of Alaska Department of Revenue now owns 68,512 shares of the financial services provider’s stock valued at $1,283,000 after buying an additional 26,248 shares in the last quarter. 81.91% of the stock is owned by institutional investors and hedge funds.

A number of research analysts have recently issued reports on the company. DA Davidson upgraded KeyCorp from a “neutral” rating to a “buy” rating and increased their target price for the company from $20.00 to $21.00 in a research report on Thursday, July 20th. Keefe, Bruyette & Woods set a $20.00 price objective on KeyCorp and gave the company a “hold” rating in a research note on Saturday, June 24th. Morgan Stanley reaffirmed an “overweight” rating and issued a $22.00 target price (up from $21.00) on shares of KeyCorp in a research note on Friday, July 7th. Jefferies Group LLC reissued a “buy” rating and set a $21.00 price objective on shares of KeyCorp in a research report on Friday, July 14th. Finally, BidaskClub raised KeyCorp from a “hold” rating to a “buy” rating in a research report on Saturday, June 10th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $19.74.

About KeyCorp

KeyCorp is a bank holding company. The Company is a bank-based financial services company. The Company operates through its subsidiary, KeyBank National Association (KeyBank), which is engaged in providing banking services. Through KeyBank and other subsidiaries, it provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, and investment banking products and services to individual, corporate and institutional clients.

Insider Buying and Selling by Quarter for KeyCorp (NYSE:KEY)

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