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.
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.
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