Deutsche Bank AG Has $62.76 Million Holdings in KeyCorp (NYSE:KEY)

Key Points

• Deutsche Bank AG has reduced its stake in KeyCorp by 20.0% during the first quarter, now holding approximately 3.9 million shares valued at $62.76 million.
• KeyCorp's quarterly earnings surpassed expectations with an EPS of $0.35, outperforming analysts' projections by $0.01.
• Insider transactions have seen KeyCorp's CEO sell 112,149 shares, indicating significant movement in executive holdings, with insiders having sold a total of 148,149 shares in the past ninety days.

Deutsche Bank AG cut its holdings in KeyCorp (NYSE:KEY - Free Report) by 20.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,924,863 shares of the financial services provider's stock after selling 980,686 shares during the quarter. Deutsche Bank AG owned about 0.36% of KeyCorp worth $62,759,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fourth Dimension Wealth LLC acquired a new stake in KeyCorp in the fourth quarter worth $28,000. FSC Wealth Advisors LLC acquired a new stake in KeyCorp in the first quarter worth $34,000. Allworth Financial LP raised its holdings in KeyCorp by 246.9% in the first quarter. Allworth Financial LP now owns 2,168 shares of the financial services provider's stock worth $32,000 after purchasing an additional 1,543 shares during the period. Optiver Holding B.V. acquired a new stake in KeyCorp in the fourth quarter worth $42,000. Finally, NBC Securities Inc. raised its holdings in KeyCorp by 123,900.0% in the first quarter. NBC Securities Inc. now owns 2,480 shares of the financial services provider's stock worth $39,000 after purchasing an additional 2,478 shares during the period. 79.69% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on KEY. Royal Bank Of Canada reiterated an "outperform" rating on shares of KeyCorp in a report on Thursday, April 17th. Keefe, Bruyette & Woods lowered their price objective on shares of KeyCorp from $20.00 to $18.00 and set an "outperform" rating for the company in a research report on Monday, April 21st. Jefferies Financial Group assumed coverage on shares of KeyCorp in a research report on Wednesday, May 21st. They set a "hold" rating and a $18.00 price objective for the company. Truist Financial increased their price objective on shares of KeyCorp from $17.00 to $19.00 and gave the stock a "hold" rating in a research report on Monday, July 28th. Finally, DA Davidson boosted their target price on KeyCorp from $19.00 to $21.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Twelve analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $19.39.

Insider Buying and Selling at KeyCorp

In other KeyCorp news, Director Trina M. Evans sold 17,000 shares of the company's stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $18.67, for a total value of $317,390.00. Following the transaction, the director directly owned 82,719 shares in the company, valued at $1,544,363.73. The trade was a 17.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Christopher M. Gorman sold 112,149 shares of the company's stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $18.86, for a total transaction of $2,115,130.14. Following the completion of the transaction, the chief executive officer owned 619,895 shares in the company, valued at approximately $11,691,219.70. This represents a 15.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 148,149 shares of company stock worth $2,738,230 over the last ninety days. Insiders own 0.52% of the company's stock.

KeyCorp Stock Performance

NYSE KEY traded up $0.10 on Thursday, hitting $18.32. 24,618,684 shares of the stock were exchanged, compared to its average volume of 17,086,297. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.84 and a quick ratio of 0.83. The business's fifty day moving average is $17.51 and its 200 day moving average is $16.48. KeyCorp has a 52 week low of $12.73 and a 52 week high of $20.04. The company has a market capitalization of $20.08 billion, a PE ratio of -261.64, a P/E/G ratio of 0.63 and a beta of 1.13.

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

KeyCorp Dividend Announcement

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

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.