Charles Schwab Investment Management Inc. Has $149.55 Million Stock Holdings in KeyCorp (NYSE:KEY)

Charles Schwab Investment Management Inc. trimmed its position in KeyCorp (NYSE:KEY - Free Report) by 71.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,352,716 shares of the financial services provider's stock after selling 23,705,966 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.85% of KeyCorp worth $149,550,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Fourth Dimension Wealth LLC bought a new stake in shares of KeyCorp in the fourth quarter valued at about $28,000. FSC Wealth Advisors LLC bought a new stake in shares of KeyCorp in the first quarter valued at about $34,000. Allworth Financial LP lifted its holdings in shares of KeyCorp by 246.9% in the first quarter. Allworth Financial LP now owns 2,168 shares of the financial services provider's stock valued at $32,000 after purchasing an additional 1,543 shares in the last quarter. Optiver Holding B.V. bought a new stake in shares of KeyCorp in the fourth quarter valued at about $42,000. Finally, NBC Securities Inc. lifted its holdings in shares of KeyCorp by 123,900.0% in the first quarter. NBC Securities Inc. now owns 2,480 shares of the financial services provider's stock valued at $39,000 after purchasing an additional 2,478 shares in the last quarter. 79.69% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on KEY. Robert W. Baird lowered KeyCorp from an "outperform" rating to a "neutral" rating and set a $18.00 target price on the stock. in a report on Wednesday, July 2nd. Citigroup reiterated a "neutral" rating and set a $20.00 target price (up previously from $19.00) on shares of KeyCorp in a report on Thursday, July 24th. DA Davidson upped their target price on KeyCorp from $19.00 to $21.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Barclays dropped their target price on KeyCorp from $21.00 to $20.00 and set an "equal weight" rating on the stock in a report on Monday, April 21st. Finally, Evercore ISI set a $17.00 target price on KeyCorp in a report on Monday, April 28th. Twelve investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $19.39.

Insider Buying and Selling

In related news, CEO Christopher M. Gorman sold 112,149 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $18.86, for a total transaction of $2,115,130.14. Following the sale, the chief executive officer owned 619,895 shares of the company's stock, valued at $11,691,219.70. This represents a 15.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Trina M. Evans sold 17,000 shares of the stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $18.67, for a total value of $317,390.00. Following the sale, the director directly owned 82,719 shares in the company, valued at $1,544,363.73. This represents a 17.05% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 148,149 shares of company stock valued at $2,738,230 over the last 90 days. 0.52% of the stock is owned by corporate insiders.

KeyCorp Stock Performance

Shares of KeyCorp stock traded up $0.10 on Thursday, hitting $18.32. The stock had a trading volume of 22,552,405 shares, compared to its average volume of 17,065,471. KeyCorp has a twelve month low of $12.73 and a twelve month high of $20.04. The business's 50 day moving average is $17.51 and its two-hundred day moving average is $16.48. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.71. The stock has a market cap of $20.08 billion, a price-to-earnings ratio of -261.64, a price-to-earnings-growth ratio of 0.63 and a beta of 1.13.

KeyCorp (NYSE:KEY - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The financial services provider reported $0.35 EPS for the quarter, beating the consensus estimate of $0.34 by $0.01. The company had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.81 billion. KeyCorp had a return on equity of 9.65% and a net margin of 1.49%. The firm's revenue for the quarter was up 20.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.25 earnings per share. Analysts forecast that KeyCorp will post 1.5 EPS for the current year.

KeyCorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be given a dividend of $0.205 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $0.82 dividend on an annualized basis and a yield of 4.5%. KeyCorp's dividend payout ratio is currently -1,171.43%.

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.