Mizuho Securities USA LLC Sells 14,190 Shares of KeyCorp (NYSE:KEY)

Key Points

• Mizuho Securities USA LLC has decreased its stake in KeyCorp by 15.1%, selling 14,190 shares and now holding 79,758 shares valued at $1.275 million.
• KeyCorp's stock price increased by 3.2%, with recent earnings reporting $0.35 per share, exceeding the consensus estimate of $0.34.
• The company has announced a quarterly dividend of $0.205 per share, which translates to an annualized dividend yield of 4.6%.

Mizuho Securities USA LLC reduced its stake in shares of KeyCorp (NYSE:KEY - Free Report) by 15.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 79,758 shares of the financial services provider's stock after selling 14,190 shares during the period. Mizuho Securities USA LLC's holdings in KeyCorp were worth $1,275,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Benjamin Edwards Inc. lifted its stake in KeyCorp by 9.2% in the first quarter. Benjamin Edwards Inc. now owns 25,435 shares of the financial services provider's stock valued at $407,000 after acquiring an additional 2,148 shares during the last quarter. Townsquare Capital LLC increased its stake in shares of KeyCorp by 26.6% during the first quarter. Townsquare Capital LLC now owns 49,103 shares of the financial services provider's stock worth $785,000 after purchasing an additional 10,312 shares during the period. Zions Bancorporation National Association UT acquired a new stake in shares of KeyCorp during the first quarter worth $28,000. Forsta AP Fonden boosted its holdings in KeyCorp by 5.9% in the 1st quarter. Forsta AP Fonden now owns 252,400 shares of the financial services provider's stock valued at $4,036,000 after purchasing an additional 14,100 shares during the period. Finally, AlphaCore Capital LLC increased its stake in KeyCorp by 5.2% during the 1st quarter. AlphaCore Capital LLC now owns 13,238 shares of the financial services provider's stock worth $212,000 after acquiring an additional 651 shares during the period. Institutional investors own 79.69% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on KEY. Morgan Stanley reaffirmed an "equal weight" rating on shares of KeyCorp in a report on Thursday, April 17th. Wells Fargo & Company raised their target price on shares of KeyCorp from $18.00 to $20.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. Keefe, Bruyette & Woods lowered their target price on KeyCorp from $20.00 to $18.00 and set an "outperform" rating for the company in a report on Monday, April 21st. DA Davidson raised their price target on shares of KeyCorp from $19.00 to $21.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Finally, Jefferies Financial Group started coverage on KeyCorp in a research report on Wednesday, May 21st. They set a "hold" rating and a $18.00 price objective for the company. Twelve equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $19.39.

Insider Activity

In other KeyCorp 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 transaction of $305,710.00. Following the transaction, the insider owned 82,523 shares in the company, valued at approximately $1,327,795.07. This represents a 18.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Trina M. Evans sold 17,000 shares of the stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $18.67, for a total value of $317,390.00. Following the completion of the transaction, the director owned 82,719 shares of the company's stock, valued at approximately $1,544,363.73. This trade represents a 17.05% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 148,149 shares of company stock valued at $2,738,230. Insiders own 0.52% of the company's stock.

KeyCorp Price Performance

Shares of KEY traded down $0.25 during trading hours on Friday, reaching $18.05. 23,015,212 shares of the company's stock traded hands, compared to its average volume of 17,124,555. KeyCorp has a 12 month low of $12.73 and a 12 month high of $20.04. 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 stock has a market cap of $19.79 billion, a PE ratio of -257.86, a price-to-earnings-growth ratio of 0.64 and a beta of 1.13. The firm's 50 day simple moving average is $17.60 and its 200-day simple moving average is $16.49.

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. The company had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.81 billion. KeyCorp had a return on equity of 9.65% and a net margin of 1.49%. KeyCorp's quarterly revenue was up 20.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.25 EPS. Equities analysts expect that KeyCorp will post 1.5 EPS for the current year.

KeyCorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be paid a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend is Tuesday, September 2nd. KeyCorp's dividend payout ratio is -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.