Vident Advisory LLC Trims Holdings in KeyCorp $KEY

Key Points

• Vident Advisory LLC significantly reduced its stake in KeyCorp by 68.1%, now owning 26,612 shares worth approximately $426,000.
• Insider transactions saw Amy G. Brady and Trina M. Evans sell a total of 36,000 shares in recent months, reducing their positions by 18.71% and 17.05% respectively.
• KeyCorp announced a quarterly dividend of $0.205 per share, with an annualized yield of 4.3%, to be paid on September 15th.

Vident Advisory LLC trimmed its position in KeyCorp (NYSE:KEY - Free Report) by 68.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,612 shares of the financial services provider's stock after selling 56,926 shares during the quarter. Vident Advisory LLC's holdings in KeyCorp were worth $426,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of KEY. Price T Rowe Associates Inc. MD grew its stake in shares of KeyCorp by 40.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 50,954,013 shares of the financial services provider's stock worth $814,756,000 after purchasing an additional 14,651,281 shares during the last quarter. Vanguard Group Inc. raised its holdings in KeyCorp by 7.2% in the 1st quarter. Vanguard Group Inc. now owns 125,345,385 shares of the financial services provider's stock worth $2,004,273,000 after purchasing an additional 8,412,625 shares in the last quarter. Wellington Management Group LLP raised its holdings in KeyCorp by 1,142.4% in the 1st quarter. Wellington Management Group LLP now owns 5,001,779 shares of the financial services provider's stock worth $79,978,000 after purchasing an additional 4,599,197 shares in the last quarter. Invesco Ltd. raised its holdings in KeyCorp by 19.5% in the 1st quarter. Invesco Ltd. now owns 20,623,929 shares of the financial services provider's stock worth $329,777,000 after purchasing an additional 3,363,421 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. raised its holdings in KeyCorp by 12.2% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 30,511,720 shares of the financial services provider's stock worth $487,882,000 after purchasing an additional 3,327,972 shares in the last quarter. 79.69% of the stock is owned by institutional investors.

Insider Buying and Selling at KeyCorp

In other KeyCorp news, insider Amy G. Brady sold 19,000 shares of the company's stock in a transaction dated 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 in the company, valued at approximately $1,327,795.07. This represents a 18.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Trina M. Evans sold 17,000 shares of the company's stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $18.67, for a total transaction of $317,390.00. Following the transaction, the director owned 82,719 shares in the company, valued at $1,544,363.73. This represents a 17.05% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 148,149 shares of company stock worth $2,738,230. Company insiders own 0.52% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on KEY shares. Jefferies Financial Group started coverage on shares of KeyCorp in a report on Wednesday, May 21st. They issued a "hold" rating and a $18.00 price objective for the company. Wells Fargo & Company upped their price objective on shares of KeyCorp from $18.00 to $20.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Robert W. Baird cut shares of KeyCorp from an "outperform" rating to a "neutral" rating and set a $18.00 target price on the stock. in a report on Wednesday, July 2nd. Cowen began coverage on shares of KeyCorp in a report on Wednesday, May 14th. They set a "hold" rating on the stock. Finally, TD Cowen began coverage on shares of KeyCorp in a report on Thursday, May 15th. They set a "hold" rating and a $18.00 target price on the stock. Ten research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat.com, KeyCorp currently has an average rating of "Hold" and an average price target of $19.39.

KeyCorp Stock Down 0.3%

KeyCorp stock traded down $0.06 during mid-day trading on Tuesday, reaching $19.09. The stock had a trading volume of 32,587,488 shares, compared to its average volume of 25,666,348. The company has a market capitalization of $20.93 billion, a price-to-earnings ratio of -272.71, a PEG ratio of 0.68 and a beta of 1.15. The company has a 50-day moving average price of $18.43 and a two-hundred day moving average price of $16.62. KeyCorp has a one year low of $12.73 and a one year high of $20.04. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.84 and a quick ratio of 0.83.

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

KeyCorp Announces Dividend

The business also recently announced 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 is Tuesday, September 2nd. This represents a $0.82 annualized dividend and a yield of 4.3%. KeyCorp's dividend payout ratio is currently -1,171.43%.

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.