Natixis Advisors LLC Decreases Stake in KeyCorp (NYSE:KEY)

Natixis Advisors LLC trimmed its holdings in shares of KeyCorp (NYSE:KEY - Free Report) by 79.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 155,914 shares of the financial services provider's stock after selling 605,470 shares during the quarter. Natixis Advisors LLC's holdings in KeyCorp were worth $2,493,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Freestone Grove Partners LP purchased a new stake in KeyCorp during the 4th quarter worth approximately $63,540,000. Raymond James Financial Inc. acquired a new stake in KeyCorp in the fourth quarter valued at $42,827,000. Price T Rowe Associates Inc. MD boosted its stake in KeyCorp by 4.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 36,302,732 shares of the financial services provider's stock valued at $622,229,000 after acquiring an additional 1,645,296 shares during the last quarter. Northern Trust Corp grew its holdings in KeyCorp by 14.4% during the 4th quarter. Northern Trust Corp now owns 11,240,159 shares of the financial services provider's stock worth $192,656,000 after acquiring an additional 1,417,297 shares in the last quarter. Finally, Prana Capital Management LP grew its holdings in KeyCorp by 127.8% during the 4th quarter. Prana Capital Management LP now owns 2,229,422 shares of the financial services provider's stock worth $38,212,000 after acquiring an additional 1,250,639 shares in the last quarter. 79.69% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at KeyCorp

In other news, Director Carlton L. Highsmith sold 5,000 shares of the company's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $16.60, for a total value of $83,000.00. Following the completion of the sale, the director owned 37,177 shares in the company, valued at $617,138.20. This represents a 11.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Trina M. Evans sold 17,000 shares of the firm's stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $18.67, for a total value of $317,390.00. Following the transaction, the director directly owned 82,719 shares of the company's stock, valued at $1,544,363.73. This represents a 17.05% decrease in their position. The disclosure for this sale can be found here. Insiders sold 153,149 shares of company stock worth $2,821,230 in the last three months. 0.52% of the stock is currently owned by company insiders.

KeyCorp Stock Performance

KEY opened at $17.39 on Friday. 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 business's 50 day moving average is $17.34 and its 200-day moving average is $16.48. The stock has a market cap of $19.05 billion, a PE ratio of -248.36, a price-to-earnings-growth ratio of 0.62 and a beta of 1.13. KeyCorp has a twelve month low of $12.73 and a twelve month high of $20.04.

KeyCorp (NYSE:KEY - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The financial services provider reported $0.35 EPS for the quarter, beating the consensus estimate of $0.34 by $0.01. KeyCorp had a return on equity of 9.65% and a net margin of 1.49%. The firm had revenue of $1.84 billion for the quarter, compared to analysts' expectations of $1.81 billion. During the same period last year, the firm earned $0.25 EPS. The firm's revenue was up 20.6% compared to the same quarter last year. On average, analysts predict that KeyCorp will post 1.5 earnings per share for the current year.

KeyCorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be issued a dividend of $0.205 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $0.82 annualized dividend and a yield of 4.7%. KeyCorp's payout ratio is presently -1,171.43%.

Analysts Set New Price Targets

Several brokerages recently weighed in on KEY. Citigroup reissued a "neutral" rating and issued a $20.00 price objective (up from $19.00) on shares of KeyCorp in a report on Thursday, July 24th. Robert W. Baird downgraded KeyCorp from an "outperform" rating to a "neutral" rating and set a $18.00 price target for the company. in a report on Wednesday, July 2nd. Royal Bank Of Canada reissued an "outperform" rating on shares of KeyCorp in a research report on Thursday, April 17th. Bank of America lifted their price objective on shares of KeyCorp from $18.00 to $20.00 and gave the stock a "buy" rating in a report on Monday, June 16th. Finally, Evercore ISI set a $17.00 target price on shares of KeyCorp in a report on Monday, April 28th. Twelve analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price 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.

Want to see what other hedge funds are holding KEY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for KeyCorp (NYSE:KEY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.