KeyCorp (NYSE:KEY) Shares Sold by Tredje AP fonden

Key Points

• Tredje AP fonden reduced its stake in KeyCorp by 42.2% during the first quarter, selling 100,000 shares, which now leaves them with holdings valued at $2,186,000.
• Insiders at KeyCorp, including CEO Christopher M. Gorman, sold a total of 153,149 shares valued at approximately $2.82 million over the last quarter, indicating a significant decrease in their ownership percentages.
• KeyCorp recently announced a quarterly dividend of $0.205, representing an annualized yield of 4.52%, to be paid on September 15th to shareholders of record as of September 2nd.

Tredje AP fonden lessened its stake in shares of KeyCorp (NYSE:KEY - Free Report) by 42.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 136,697 shares of the financial services provider's stock after selling 100,000 shares during the period. Tredje AP fonden's holdings in KeyCorp were worth $2,186,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insiders Place Their Bets

In related news, insider Amy G. Brady sold 19,000 shares of the company'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 transaction, the insider directly owned 82,523 shares of the company's stock, valued at $1,327,795.07. This represents a 18.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available 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 shares were sold at an average price of $18.86, for a total transaction of $2,115,130.14. Following the completion of the transaction, the chief executive officer owned 619,895 shares in the company, valued at $11,691,219.70. This represents a 15.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 153,149 shares of company stock valued at $2,821,230 over the last quarter. Corporate insiders own 0.52% of the company's stock.

KeyCorp Trading Down 1.3%

NYSE:KEY opened at $18.15 on Thursday. The stock has a fifty day moving average price of $17.13 and a 200 day moving average price of $16.48. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.71. The firm has a market cap of $19.89 billion, a PE ratio of -259.29, a price-to-earnings-growth ratio of 0.65 and a beta of 1.11. KeyCorp has a 12-month low of $12.73 and a 12-month high of $20.04.

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 analysts' consensus estimates of $0.34 by $0.01. KeyCorp had a net margin of 1.49% and a return on equity of 9.65%. The firm had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.81 billion. During the same period in the prior year, the firm earned $0.25 earnings per share. The business's quarterly revenue was up 20.6% compared to the same quarter last year. Sell-side analysts anticipate that KeyCorp will post 1.5 earnings per share for the current fiscal year.

KeyCorp Announces Dividend

The firm 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 $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 4.52%. The ex-dividend date is Tuesday, September 2nd. KeyCorp's dividend payout ratio is presently -1,171.43%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on KEY. 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 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 report on Tuesday, July 8th. Royal Bank Of Canada restated an "outperform" rating on shares of KeyCorp in a research report on Thursday, April 17th. Wells Fargo & Company boosted their price objective on KeyCorp from $18.00 to $20.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Finally, DA Davidson raised their target price on KeyCorp from $19.00 to $21.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Twelve equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $19.39.

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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