Gulf International Bank UK Ltd Trims Position in KeyCorp $KEY

Key Points

• Gulf International Bank UK Ltd reduced its holdings in KeyCorp by 32.4%, selling 23,832 shares, leaving it with 49,750 shares valued at approximately $795,000.
• KeyCorp's CEO, Christopher M. Gorman, sold 112,149 shares of stock, resulting in a 15.32% decrease in his position, while director Trina M. Evans sold 17,000 shares, representing a 17.05% decrease in her holdings.
• The company announced a quarterly dividend of $0.205 per share, translating to an annualized rate of $0.82 and a dividend yield of 4.5%.

Gulf International Bank UK Ltd trimmed its stake in KeyCorp (NYSE:KEY - Free Report) by 32.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 49,750 shares of the financial services provider's stock after selling 23,832 shares during the quarter. Gulf International Bank UK Ltd's holdings in KeyCorp were worth $795,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of KEY. Fourth Dimension Wealth LLC purchased a new position in shares of KeyCorp in the 4th quarter worth about $28,000. Zions Bancorporation National Association UT purchased a new stake in KeyCorp during the 1st quarter valued at about $28,000. Allworth Financial LP increased its stake in KeyCorp by 246.9% during the 1st 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. FSC Wealth Advisors LLC purchased a new position in KeyCorp in the first quarter worth about $34,000. Finally, NBC Securities Inc. lifted its stake 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 worth $39,000 after buying an additional 2,478 shares in the last quarter. 79.69% of the stock is currently owned by institutional investors.

KeyCorp Stock Performance

KEY traded up $0.7750 during midday trading on Friday, reaching $18.9250. The company had a trading volume of 9,748,832 shares, compared to its average volume of 17,208,008. The business has a 50-day moving average of $17.75 and a two-hundred day moving average of $16.50. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.71. KeyCorp has a 1 year low of $12.73 and a 1 year high of $20.04. The company has a market cap of $20.75 billion, a P/E ratio of -270.34, a P/E/G ratio of 0.64 and a beta of 1.13.

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

KeyCorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders 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 4.3%. The ex-dividend date of this dividend is Tuesday, September 2nd. KeyCorp's payout ratio is -1,171.43%.

Insider Buying and Selling at KeyCorp

In other news, Director Trina M. Evans sold 17,000 shares of the firm's stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $18.67, for a total transaction of $317,390.00. Following the completion of the transaction, the director owned 82,719 shares in the company, valued at $1,544,363.73. This trade represents a 17.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Christopher M. Gorman sold 112,149 shares of the firm's stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $18.86, for a total value of $2,115,130.14. Following the transaction, 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 position. The disclosure for this sale can be found here. Insiders sold 148,149 shares of company stock valued at $2,738,230 in the last 90 days. Insiders own 0.52% of the company's stock.

Analysts Set New Price Targets

KEY has been the subject of several analyst reports. Evercore ISI set a $17.00 price target on shares of KeyCorp in a research report on Monday, April 28th. Cowen began coverage on KeyCorp in a report on Wednesday, May 14th. They issued a "hold" rating for the company. Citigroup restated a "neutral" rating and issued a $20.00 price target (up previously from $19.00) on shares of KeyCorp in a research note on Thursday, July 24th. DA Davidson increased their price objective on KeyCorp from $19.00 to $21.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Finally, Baird R W downgraded KeyCorp from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 2nd. Ten analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $19.39.

KeyCorp Company 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.