KeyCorp (NYSE:KEY) Shares Sold by Allianz Asset Management GmbH

Allianz Asset Management GmbH lessened its position in KeyCorp (NYSE:KEY - Free Report) by 29.0% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 82,432 shares of the financial services provider's stock after selling 33,739 shares during the period. Allianz Asset Management GmbH's holdings in KeyCorp were worth $1,318,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Integrated Wealth Concepts LLC raised its stake in shares of KeyCorp by 2.6% in the 4th quarter. Integrated Wealth Concepts LLC now owns 24,679 shares of the financial services provider's stock worth $423,000 after buying an additional 631 shares in the last quarter. SBI Securities Co. Ltd. raised its stake in shares of KeyCorp by 34.0% in the 1st quarter. SBI Securities Co. Ltd. now owns 2,644 shares of the financial services provider's stock worth $42,000 after buying an additional 671 shares in the last quarter. Centaurus Financial Inc. raised its stake in shares of KeyCorp by 11.2% in the 4th quarter. Centaurus Financial Inc. now owns 7,218 shares of the financial services provider's stock worth $124,000 after buying an additional 728 shares in the last quarter. CIBC Private Wealth Group LLC raised its stake in shares of KeyCorp by 4.5% in the 4th quarter. CIBC Private Wealth Group LLC now owns 17,050 shares of the financial services provider's stock worth $292,000 after buying an additional 731 shares in the last quarter. Finally, Capital Advisors Ltd. LLC raised its stake in shares of KeyCorp by 44.1% in the 1st quarter. Capital Advisors Ltd. LLC now owns 2,504 shares of the financial services provider's stock worth $40,000 after buying an additional 766 shares in the last quarter. Institutional investors own 79.69% of the company's stock.

KeyCorp Stock Performance

Shares of NYSE KEY opened at $17.91 on Friday. The business's 50-day moving average price is $17.18 and its two-hundred day moving average price is $16.49. 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 has a one year low of $12.73 and a one year high of $20.04. The company has a market capitalization of $19.63 billion, a P/E ratio of -255.86, a price-to-earnings-growth ratio of 0.64 and a beta of 1.11.

KeyCorp (NYSE:KEY - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The financial services provider reported $0.35 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 firm had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.81 billion. During the same quarter in the previous year, the company posted $0.25 earnings per share. The business's quarterly revenue was up 20.6% compared to the same quarter last year. Analysts anticipate that KeyCorp will post 1.5 earnings per share for the current fiscal year.

KeyCorp Dividend Announcement

The company 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 $0.205 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $0.82 dividend on an annualized basis and a yield of 4.6%. KeyCorp's payout ratio is -1,171.43%.

Insider Transactions at KeyCorp

In other KeyCorp news, Director Trina M. Evans sold 17,000 shares of the business's stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $18.67, for a total value of $317,390.00. Following the transaction, the director 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Carlton L. Highsmith sold 5,000 shares of the business's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $16.60, for a total value of $83,000.00. Following the completion of the transaction, the director owned 37,177 shares in the company, valued at $617,138.20. This trade represents a 11.85% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 153,149 shares of company stock worth $2,821,230. 0.52% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on KEY shares. Jefferies Financial Group started coverage on KeyCorp in a research note on Wednesday, May 21st. They issued a "hold" rating and a $18.00 price objective on the stock. DA Davidson boosted their target price on KeyCorp from $19.00 to $21.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. UBS Group raised KeyCorp from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $16.00 to $22.00 in a research report on Tuesday, July 8th. Bank of America boosted their target price on KeyCorp from $18.00 to $20.00 and gave the stock a "buy" rating in a research report on Monday, June 16th. Finally, Cowen assumed coverage on KeyCorp in a research report on Wednesday, May 14th. They set a "hold" rating on the stock. Twelve investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, KeyCorp presently has an average rating of "Hold" and an average target price of $19.39.

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.