KeyCorp $KEY Shares Sold by B. Metzler seel. Sohn & Co. AG

Key Points

• B. Metzler seel. Sohn & Co. AG significantly reduced its holdings in KeyCorp, lowering its position by 67.7% to 59,881 shares after selling 125,500 shares.
• Multiple analysts have set a consensus target price for KeyCorp at $19.39, with ratings ranging from "Buy" to "Hold," indicating mixed sentiments about the stock's future performance.
• KeyCorp recently announced a quarterly dividend of $0.205 per share, reflecting a 4.2% dividend yield, and the payout will occur on September 15th to stockholders of record as of September 2nd.

B. Metzler seel. Sohn & Co. AG lowered its stake in shares of KeyCorp (NYSE:KEY - Free Report) by 67.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 59,881 shares of the financial services provider's stock after selling 125,500 shares during the period. B. Metzler seel. Sohn & Co. AG's holdings in KeyCorp were worth $957,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC purchased a new stake in KeyCorp during the fourth quarter worth $476,000. Integrated Wealth Concepts LLC boosted its position in KeyCorp by 2.6% during the fourth quarter. Integrated Wealth Concepts LLC now owns 24,679 shares of the financial services provider's stock worth $423,000 after purchasing an additional 631 shares in the last quarter. Utah Retirement Systems boosted its position in KeyCorp by 0.6% during the fourth quarter. Utah Retirement Systems now owns 153,234 shares of the financial services provider's stock worth $2,626,000 after purchasing an additional 900 shares in the last quarter. BNP Paribas Financial Markets boosted its position in KeyCorp by 26.8% during the fourth quarter. BNP Paribas Financial Markets now owns 1,823,014 shares of the financial services provider's stock worth $31,246,000 after purchasing an additional 385,066 shares in the last quarter. Finally, Black Maple Capital Management LP boosted its position in KeyCorp by 110.0% during the fourth quarter. Black Maple Capital Management LP now owns 391,601 shares of the financial services provider's stock worth $6,712,000 after purchasing an additional 205,126 shares in the last quarter. Hedge funds and other institutional investors own 79.69% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on KEY. 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. TD Cowen began coverage on shares of KeyCorp in a report on Thursday, May 15th. They issued a "hold" rating and a $18.00 price target on the stock. Jefferies Financial Group began coverage on shares of KeyCorp in a report on Wednesday, May 21st. They issued a "hold" rating and a $18.00 price target on the stock. Baird R W downgraded shares of KeyCorp from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 2nd. Finally, Cowen assumed coverage on KeyCorp in a research report on Wednesday, May 14th. They issued a "hold" rating on the stock. Ten research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat, KeyCorp presently has an average rating of "Hold" and an average target price of $19.39.

KeyCorp Trading Up 1.2%

NYSE KEY traded up $0.23 during trading hours on Thursday, hitting $19.18. 16,671,335 shares of the company's stock were exchanged, compared to its average volume of 17,689,521. The business's 50 day moving average is $18.30 and its 200-day moving average is $16.59. KeyCorp has a 12-month low of $12.73 and a 12-month high of $20.04. The firm has a market capitalization of $21.03 billion, a P/E ratio of -273.93, a price-to-earnings-growth ratio of 0.68 and a beta of 1.15. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.83 and a current ratio of 0.84.

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

KeyCorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be paid 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 4.3%. KeyCorp's dividend payout ratio (DPR) is currently -1,171.43%.

Insiders Place Their Bets

In other KeyCorp news, insider Amy G. Brady sold 19,000 shares of the 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 transaction, the insider owned 82,523 shares of the company's stock, valued at $1,327,795.07. This trade represents a 18.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 transaction, the chief executive officer directly owned 619,895 shares in the company, valued at approximately $11,691,219.70. This represents a 15.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 148,149 shares of company stock valued at $2,738,230 over the last quarter. Company insiders own 0.52% of the company's stock.

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.