Crossmark Global Holdings Inc. Sells 210,978 Shares of KeyCorp (NYSE:KEY)

Crossmark Global Holdings Inc. lowered its stake in shares of KeyCorp (NYSE:KEY - Free Report) by 78.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 58,416 shares of the financial services provider's stock after selling 210,978 shares during the quarter. Crossmark Global Holdings Inc.'s holdings in KeyCorp were worth $934,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. TCTC Holdings LLC raised its stake in shares of KeyCorp by 38.6% during the fourth quarter. TCTC Holdings LLC now owns 2,195 shares of the financial services provider's stock valued at $38,000 after acquiring an additional 611 shares during the last quarter. Signaturefd LLC increased its position in shares of KeyCorp by 16.0% during the fourth quarter. Signaturefd LLC now owns 4,453 shares of the financial services provider's stock valued at $76,000 after buying an additional 614 shares during the period. Integrated Wealth Concepts LLC increased its stake in shares of KeyCorp by 2.6% during the fourth quarter. Integrated Wealth Concepts LLC now owns 24,679 shares of the financial services provider's stock valued at $423,000 after purchasing an additional 631 shares in the last quarter. Centaurus Financial Inc. increased its stake in shares of KeyCorp by 11.2% during the fourth quarter. Centaurus Financial Inc. now owns 7,218 shares of the financial services provider's stock valued at $124,000 after purchasing an additional 728 shares in the last quarter. Finally, CIBC Private Wealth Group LLC increased its position in shares of KeyCorp by 4.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 17,050 shares of the financial services provider's stock valued at $292,000 after acquiring an additional 731 shares in the last quarter. Hedge funds and other institutional investors own 79.69% of the company's stock.

KeyCorp Stock Performance

NYSE KEY traded down $0.48 during trading hours on Tuesday, reaching $17.88. The company's stock had a trading volume of 24,037,763 shares, compared to its average volume of 13,238,851. The business has a 50-day simple moving average of $16.58 and a 200 day simple moving average of $16.37. KeyCorp has a 52 week low of $12.73 and a 52 week high of $20.04. The stock has a market cap of $19.60 billion, a PE ratio of -105.20, a PEG ratio of 0.68 and a beta of 1.11. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.75.

KeyCorp (NYSE:KEY - Get Free Report) last posted its quarterly earnings results on Thursday, April 17th. The financial services provider reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.01. The firm had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.77 billion. KeyCorp had a negative net margin of 0.12% and a positive return on equity of 9.43%. During the same quarter in the previous year, the business posted $0.20 earnings per share. Equities research analysts predict that KeyCorp will post 1.5 earnings per share for the current fiscal year.

KeyCorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Tuesday, May 27th were paid a $0.205 dividend. The ex-dividend date of this dividend was Tuesday, May 27th. This represents a $0.82 dividend on an annualized basis and a yield of 4.59%. KeyCorp's payout ratio is currently -482.35%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Baird R W cut shares of KeyCorp from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 2nd. Robert W. Baird downgraded shares of KeyCorp from an "outperform" rating to a "neutral" rating and set a $18.00 price target on the stock. in a report on Wednesday, July 2nd. JPMorgan Chase & Co. reduced their price target on shares of KeyCorp from $18.50 to $16.50 and set a "neutral" rating on the stock in a report on Thursday, April 3rd. Evercore ISI set a $17.00 target price on shares of KeyCorp in a report on Monday, April 28th. Finally, Wall Street Zen upgraded shares of KeyCorp from a "sell" rating to a "hold" rating in a report on Monday, April 21st. Eleven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, KeyCorp currently has a consensus rating of "Moderate Buy" and an average price target of $19.18.

Insider Activity at KeyCorp

In other news, insider Mohit Ramani purchased 10,000 shares of KeyCorp stock in a transaction on Monday, April 21st. The shares were purchased at an average cost of $13.75 per share, for a total transaction of $137,500.00. Following the completion of the transaction, the insider directly owned 10,000 shares in the company, valued at approximately $137,500. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Amy G. Brady sold 19,000 shares of the company's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $16.09, for a total transaction of $305,710.00. Following the transaction, the insider owned 82,523 shares in the company, valued at $1,327,795.07. The trade was a 18.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.52% of the stock is currently owned by insiders.

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.