Shell Asset Management Co. Sells 19,512 Shares of KeyCorp (NYSE:KEY)

Shell Asset Management Co. lowered its stake in shares of KeyCorp (NYSE:KEY) by 38.5% during the first quarter, HoldingsChannel reports. The firm owned 31,120 shares of the financial services provider’s stock after selling 19,512 shares during the quarter. Shell Asset Management Co.’s holdings in KeyCorp were worth $492,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Valeo Financial Advisors LLC raised its stake in shares of KeyCorp by 1.0% during the 1st quarter. Valeo Financial Advisors LLC now owns 69,213 shares of the financial services provider’s stock worth $1,094,000 after purchasing an additional 704 shares in the last quarter. Caldwell Sutter Capital Inc. raised its stake in shares of KeyCorp by 3.7% during the 1st quarter. Caldwell Sutter Capital Inc. now owns 20,927 shares of the financial services provider’s stock worth $331,000 after purchasing an additional 742 shares in the last quarter. Czech National Bank raised its stake in shares of KeyCorp by 0.5% during the 1st quarter. Czech National Bank now owns 164,768 shares of the financial services provider’s stock worth $2,605,000 after purchasing an additional 788 shares in the last quarter. CWM LLC increased its holdings in shares of KeyCorp by 1.7% during the 1st quarter. CWM LLC now owns 50,656 shares of the financial services provider’s stock worth $801,000 after acquiring an additional 837 shares during the last quarter. Finally, UMB Bank n.a. increased its holdings in shares of KeyCorp by 2.5% during the 4th quarter. UMB Bank n.a. now owns 34,090 shares of the financial services provider’s stock worth $491,000 after acquiring an additional 841 shares during the last quarter. Institutional investors own 79.69% of the company’s stock.

KeyCorp Trading Up 0.1 %

NYSE KEY traded up $0.02 during trading hours on Friday, hitting $16.15. 3,094,640 shares of the company’s stock were exchanged, compared to its average volume of 14,811,043. The stock has a 50-day simple moving average of $14.44 and a 200 day simple moving average of $14.56. KeyCorp has a 1-year low of $9.50 and a 1-year high of $16.47. The firm has a market cap of $15.23 billion, a price-to-earnings ratio of 20.41, a PEG ratio of 0.85 and a beta of 1.26. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.37.

KeyCorp (NYSE:KEY) last released its earnings results on Thursday, July 18th. The financial services provider reported $0.25 EPS for the quarter, topping the consensus estimate of $0.24 by $0.01. KeyCorp had a return on equity of 8.64% and a net margin of 7.35%. The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter last year, the firm posted $0.27 earnings per share. The firm’s revenue was down 4.3% on a year-over-year basis. On average, equities analysts forecast that KeyCorp will post 1.12 EPS for the current fiscal year.

KeyCorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Tuesday, August 27th will be paid a $0.205 dividend. The ex-dividend date of this dividend is Tuesday, August 27th. This represents a $0.82 dividend on an annualized basis and a yield of 5.08%. KeyCorp’s dividend payout ratio (DPR) is presently 103.80%.

Analyst Ratings Changes

KEY has been the topic of several analyst reports. Keefe, Bruyette & Woods increased their target price on KeyCorp from $16.00 to $18.00 and gave the stock an “outperform” rating in a report on Friday, April 5th. Wedbush increased their target price on KeyCorp from $15.00 to $16.00 and gave the stock a “neutral” rating in a report on Friday, July 19th. Wells Fargo & Company increased their target price on KeyCorp from $16.00 to $18.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. DA Davidson upped their price objective on KeyCorp from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. Finally, JPMorgan Chase & Co. dropped their price objective on KeyCorp from $17.50 to $16.50 and set a “neutral” rating for the company in a research report on Thursday, June 27th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $16.13.

About KeyCorp

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.