Envestnet Asset Management Inc. Lowers Holdings in KeyCorp (NYSE:KEY)

Envestnet Asset Management Inc. reduced its position in shares of KeyCorp (NYSE:KEY - Free Report) by 45.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 891,336 shares of the financial services provider's stock after selling 730,816 shares during the period. Envestnet Asset Management Inc. owned 0.08% of KeyCorp worth $14,252,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Brighton Jones LLC bought a new stake in KeyCorp in the 4th quarter valued at $476,000. Proficio Capital Partners LLC bought a new position in shares of KeyCorp during the 4th quarter worth about $1,519,000. Independent Advisor Alliance bought a new position in shares of KeyCorp during the 4th quarter worth about $183,000. Signaturefd LLC lifted its holdings in shares of KeyCorp by 16.0% during the 4th quarter. Signaturefd LLC now owns 4,453 shares of the financial services provider's stock worth $76,000 after acquiring an additional 614 shares during the period. Finally, Generali Asset Management SPA SGR bought a new position in shares of KeyCorp during the 4th quarter worth about $106,000. 79.69% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, insider Amy G. Brady sold 19,000 shares of the firm's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $16.09, for a total value of $305,710.00. Following the completion of the sale, the insider directly owned 82,523 shares of the company's stock, valued at $1,327,795.07. This trade represents a 18.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Carlton L. Highsmith sold 5,000 shares of the business's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $16.60, for a total value of $83,000.00. Following the transaction, the director owned 37,177 shares of the company's stock, valued at approximately $617,138.20. The trade was a 11.85% decrease in their position. The disclosure for this sale can be found here. 0.52% of the stock is currently owned by company insiders.

KeyCorp Trading Up 0.8%

Shares of KEY traded up $0.15 during mid-day trading on Friday, hitting $18.52. 33,687,884 shares of the company's stock traded hands, compared to its average volume of 13,259,430. The firm has a market capitalization of $20.30 billion, a P/E ratio of -108.94, a PEG ratio of 0.69 and a beta of 1.11. The business's 50-day moving average price is $16.80 and its 200-day moving average price is $16.41. KeyCorp has a 1 year low of $12.73 and a 1 year high of $20.04. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.75.

KeyCorp (NYSE:KEY - Get Free Report) last released its earnings results on Thursday, April 17th. The financial services provider reported $0.33 EPS for the quarter, topping the consensus estimate of $0.32 by $0.01. KeyCorp had a positive return on equity of 9.43% and a negative net margin of 0.12%. The business had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same period in the previous year, the company posted $0.20 earnings per share. As a group, sell-side analysts forecast that KeyCorp will post 1.5 EPS for the current fiscal year.

KeyCorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be given a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 4.43%. The ex-dividend date of this dividend is Tuesday, September 2nd. KeyCorp's dividend payout ratio is currently -482.35%.

Wall Street Analyst Weigh In

KEY has been the subject of a number of recent analyst reports. Wall Street Zen upgraded shares of KeyCorp from a "sell" rating to a "hold" rating in a research report on Monday, April 21st. UBS Group upgraded shares of KeyCorp from a "neutral" rating to a "buy" rating and increased their target price for the stock from $16.00 to $22.00 in a research report on Tuesday, July 8th. Royal Bank Of Canada reiterated an "outperform" rating on shares of KeyCorp in a research report on Thursday, April 17th. Morgan Stanley reiterated an "equal weight" rating on shares of KeyCorp in a research report on Thursday, April 17th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of KeyCorp from $20.00 to $18.00 and set an "outperform" rating for the company in a research report on Monday, April 21st. Eleven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $19.18.

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.