LPL Financial LLC Has $14.27 Million Stock Holdings in KeyCorp (NYSE:KEY)

LPL Financial LLC lessened its holdings in KeyCorp (NYSE:KEY - Free Report) by 4.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 892,621 shares of the financial services provider's stock after selling 39,161 shares during the period. LPL Financial LLC owned 0.08% of KeyCorp worth $14,273,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Integrated Wealth Concepts LLC boosted its stake in 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 during the last quarter. SBI Securities Co. Ltd. raised its position in KeyCorp by 34.0% in the first quarter. SBI Securities Co. Ltd. now owns 2,644 shares of the financial services provider's stock valued at $42,000 after purchasing an additional 671 shares during the period. Centaurus Financial Inc. raised its holdings in shares of KeyCorp by 11.2% during the 4th quarter. Centaurus Financial Inc. now owns 7,218 shares of the financial services provider's stock valued at $124,000 after buying an additional 728 shares during the period. Capital Advisors Ltd. LLC lifted its position in shares of KeyCorp by 44.1% during the first quarter. Capital Advisors Ltd. LLC now owns 2,504 shares of the financial services provider's stock worth $40,000 after purchasing an additional 766 shares in the last quarter. Finally, Fortress Financial Group LLC boosted its position in KeyCorp by 6.6% in the 1st quarter. Fortress Financial Group LLC now owns 13,498 shares of the financial services provider's stock valued at $216,000 after buying an additional 835 shares during the last quarter. 79.69% of the stock is owned by hedge funds and other institutional investors.

KeyCorp Price Performance

Shares of NYSE:KEY traded up $0.20 during trading hours on Friday, hitting $17.61. 16,690,829 shares of the company's stock traded hands, compared to its average volume of 16,913,084. KeyCorp has a 52 week low of $12.73 and a 52 week high of $20.04. The company's fifty day simple moving average is $17.40 and its two-hundred day simple moving average is $16.48. The company has a market cap of $19.30 billion, a price-to-earnings ratio of -251.57, a price-to-earnings-growth ratio of 0.62 and a beta of 1.13. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.83 and a current ratio of 0.84.

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 the consensus estimate of $0.34 by $0.01. The business had revenue of $1.84 billion for 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 firm's quarterly revenue was up 20.6% compared to the same quarter last year. During the same period last year, the firm posted $0.25 earnings per share. As a group, equities analysts anticipate 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. Stockholders of record on Tuesday, September 2nd will be issued a $0.205 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.7%. KeyCorp's dividend payout ratio is currently -1,171.43%.

Insiders Place Their Bets

In other KeyCorp news, CEO Christopher M. Gorman sold 112,149 shares of KeyCorp stock in a transaction 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 sale, the chief executive officer owned 619,895 shares of the company's stock, valued at $11,691,219.70. This trade represents a 15.32% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 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 transaction of $83,000.00. Following the transaction, the director owned 37,177 shares in the company, valued at approximately $617,138.20. This represents a 11.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 153,149 shares of company stock worth $2,821,230 over the last quarter. Company insiders own 0.52% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on KEY shares. Bank of America upped their price target on shares of KeyCorp from $18.00 to $20.00 and gave the company a "buy" rating in a report on Monday, June 16th. UBS Group upgraded shares of KeyCorp from a "neutral" rating to a "buy" rating and boosted their target price for the company from $16.00 to $22.00 in a research note on Tuesday, July 8th. Keefe, Bruyette & Woods lowered their price objective 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. Royal Bank Of Canada reiterated an "outperform" rating on shares of KeyCorp in a research note on Thursday, April 17th. Finally, Evercore ISI set a $17.00 target price on KeyCorp in a research note on Monday, April 28th. Twelve research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target 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.