KeyCorp (NYSE:KEY) Stake Lessened by First Horizon Advisors Inc.

First Horizon Advisors Inc. trimmed its stake in shares of KeyCorp (NYSE:KEY) by 10.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,398 shares of the financial services provider’s stock after selling 755 shares during the quarter. First Horizon Advisors Inc.’s holdings in KeyCorp were worth $107,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Bessemer Group Inc. grew its stake in KeyCorp by 21.4% in the first quarter. Bessemer Group Inc. now owns 14,512 shares of the financial services provider’s stock worth $230,000 after purchasing an additional 2,559 shares in the last quarter. Axxcess Wealth Management LLC bought a new stake in shares of KeyCorp in the 1st quarter valued at approximately $488,000. Magnetar Financial LLC acquired a new stake in shares of KeyCorp during the 1st quarter valued at approximately $170,000. Kestra Advisory Services LLC lifted its stake in KeyCorp by 13.5% during the first quarter. Kestra Advisory Services LLC now owns 897,701 shares of the financial services provider’s stock worth $14,193,000 after purchasing an additional 106,946 shares during the last quarter. Finally, BOKF NA boosted its holdings in KeyCorp by 4,418.1% in the first quarter. BOKF NA now owns 198,075 shares of the financial services provider’s stock worth $3,068,000 after purchasing an additional 193,691 shares during the period. 79.69% of the stock is owned by institutional investors and hedge funds.

KeyCorp Price Performance

NYSE KEY opened at $19.60 on Friday. KeyCorp has a 12 month low of $11.64 and a 12 month high of $20.00. The firm has a market capitalization of $19.43 billion, a PE ratio of 1,960.00, a P/E/G ratio of 1.06 and a beta of 1.24. The company’s 50 day simple moving average is $17.55 and its 200 day simple moving average is $15.96. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.88 and a quick ratio of 0.88.

KeyCorp (NYSE:KEY) last issued its quarterly earnings results on Thursday, October 17th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.03. The company had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.59 billion. KeyCorp had a return on equity of 8.24% and a net margin of 0.76%. As a group, equities research analysts forecast that KeyCorp will post 1.09 EPS for the current fiscal year.

KeyCorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Tuesday, December 3rd will be given a dividend of $0.205 per share. The ex-dividend date is Tuesday, December 3rd. This represents a $0.82 annualized dividend and a dividend yield of 4.18%. KeyCorp’s dividend payout ratio (DPR) is 8,200.00%.

Insider Transactions at KeyCorp

In related news, insider Angela G. Mago sold 15,011 shares of KeyCorp stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $19.59, for a total value of $294,065.49. Following the transaction, the insider now owns 234,582 shares of the company’s stock, valued at approximately $4,595,461.38. This trade represents a 6.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Carlton L. Highsmith sold 9,000 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $17.14, for a total transaction of $154,260.00. Following the sale, the director now directly owns 37,864 shares of the company’s stock, valued at $648,988.96. This represents a 19.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.61% of the company’s stock.

Analyst Upgrades and Downgrades

KEY has been the topic of a number of recent research reports. The Goldman Sachs Group set a $19.00 price target on shares of KeyCorp in a research report on Thursday, October 17th. Jefferies Financial Group lifted their target price on KeyCorp from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Monday, August 19th. Morgan Stanley upped their target price on KeyCorp from $18.00 to $20.00 and gave the company an “equal weight” rating in a report on Wednesday, August 14th. Royal Bank of Canada raised their price target on KeyCorp from $17.00 to $18.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. Finally, DA Davidson upped their price objective on KeyCorp from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $18.03.

KeyCorp Profile

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.