Envestnet Portfolio Solutions Inc. Lowers Position in KeyCorp (NYSE:KEY)

Envestnet Portfolio Solutions Inc. decreased its position in KeyCorp (NYSE:KEY - Free Report) by 65.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,304 shares of the financial services provider's stock after selling 34,044 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in KeyCorp were worth $293,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Whittier Trust Co. increased its holdings in KeyCorp by 110.3% in the 4th quarter. Whittier Trust Co. now owns 1,525 shares of the financial services provider's stock worth $26,000 after acquiring an additional 800 shares during the last quarter. Ethos Financial Group LLC bought a new position in KeyCorp during the fourth quarter worth about $27,000. Fourth Dimension Wealth LLC purchased a new position in shares of KeyCorp in the fourth quarter worth about $28,000. SBI Securities Co. Ltd. bought a new stake in shares of KeyCorp in the fourth quarter valued at approximately $34,000. Finally, TCTC Holdings LLC lifted its stake in shares of KeyCorp by 38.6% during the 4th quarter. TCTC Holdings LLC now owns 2,195 shares of the financial services provider's stock valued at $38,000 after buying an additional 611 shares in the last quarter. Institutional investors own 79.69% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Wall Street Zen raised KeyCorp from a "sell" rating to a "hold" rating in a report on Monday, April 21st. Baird R W upgraded shares of KeyCorp from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 7th. Jefferies Financial Group assumed coverage on shares of KeyCorp in a research note on Wednesday, May 21st. They issued a "hold" rating and a $18.00 target price on the stock. Morgan Stanley reaffirmed an "equal weight" rating on shares of KeyCorp in a report on Thursday, April 17th. Finally, TD Cowen initiated coverage on KeyCorp in a research report on Thursday, May 15th. They issued a "hold" rating and a $18.00 price objective on the stock. Twelve equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $18.92.

Insider Activity at KeyCorp

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

KeyCorp Stock Performance

NYSE:KEY opened at $17.23 on Monday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.83 and a current ratio of 0.84. The stock has a 50-day simple moving average of $15.81 and a two-hundred day simple moving average of $16.30. The firm has a market capitalization of $18.88 billion, a PE ratio of -101.35, a P/E/G ratio of 0.64 and a beta of 1.10. KeyCorp has a 52-week low of $12.73 and a 52-week high of $20.04.

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

KeyCorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Tuesday, May 27th were issued a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.76%. The ex-dividend date of this dividend was Tuesday, May 27th. KeyCorp's dividend payout ratio (DPR) is presently -482.35%.

KeyCorp declared that its Board of Directors has approved a share buyback program on Thursday, March 13th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the financial services provider to purchase up to 6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board believes its stock is undervalued.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.