KeyCorp (NYSE:KEY) Shares Sold by Cetera Investment Advisers

Cetera Investment Advisers lowered its stake in KeyCorp (NYSE:KEY - Free Report) by 8.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 207,387 shares of the financial services provider's stock after selling 17,972 shares during the period. Cetera Investment Advisers' holdings in KeyCorp were worth $3,316,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Fourth Dimension Wealth LLC acquired a new stake in KeyCorp in the fourth quarter valued at $28,000. FSC Wealth Advisors LLC purchased a new stake in shares of KeyCorp during the 1st quarter worth $34,000. Allworth Financial LP boosted its position in shares of KeyCorp by 246.9% during the 1st quarter. Allworth Financial LP now owns 2,168 shares of the financial services provider's stock worth $32,000 after purchasing an additional 1,543 shares in the last quarter. Optiver Holding B.V. purchased a new stake in shares of KeyCorp during the 4th quarter worth $42,000. Finally, NBC Securities Inc. boosted its position in shares of KeyCorp by 123,900.0% during the 1st quarter. NBC Securities Inc. now owns 2,480 shares of the financial services provider's stock worth $39,000 after purchasing an additional 2,478 shares in the last quarter. Institutional investors and hedge funds own 79.69% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on KEY. Royal Bank Of Canada restated an "outperform" rating on shares of KeyCorp in a research report on Thursday, April 17th. Morgan Stanley restated an "equal weight" rating on shares of KeyCorp in a research report on Thursday, April 17th. Keefe, Bruyette & Woods lowered their target price on KeyCorp from $20.00 to $18.00 and set an "outperform" rating on the stock in a report on Monday, April 21st. Wall Street Zen raised KeyCorp from a "sell" rating to a "hold" rating in a report on Monday, April 21st. Finally, Citigroup reissued a "neutral" rating and issued a $20.00 target price (up previously from $19.00) on shares of KeyCorp in a report on Thursday, July 24th. Twelve analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $19.39.

Insider Activity at KeyCorp

In other news, CEO Christopher M. Gorman sold 112,149 shares of the stock in a transaction dated Wednesday, July 23rd. The shares were 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 $11,691,219.70. This represents a 15.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Amy G. Brady sold 19,000 shares of the stock in a transaction dated Thursday, June 12th. The stock was 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. The trade was a 18.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 153,149 shares of company stock valued at $2,821,230. Insiders own 0.52% of the company's stock.

KeyCorp Stock Performance

NYSE KEY opened at $17.83 on Tuesday. The business's 50-day moving average price is $17.26 and its 200 day moving average price is $16.47. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.71. KeyCorp has a twelve month low of $12.73 and a twelve month high of $20.04. The company has a market capitalization of $19.54 billion, a PE ratio of -254.71, a price-to-earnings-growth ratio of 0.62 and a beta of 1.13.

KeyCorp (NYSE:KEY - Get Free Report) last posted its quarterly earnings data 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. The company had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.81 billion. KeyCorp had a net margin of 1.49% and a return on equity of 9.65%. The company's quarterly revenue was up 20.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.25 EPS. On average, research analysts predict that KeyCorp will post 1.5 earnings per share for the current year.

KeyCorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be issued a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 4.6%. The ex-dividend date is Tuesday, September 2nd. KeyCorp's dividend payout ratio is presently -1,171.43%.

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.

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