Pacer Advisors Inc. Trims Stock Holdings in KeyCorp (NYSE:KEY)

Pacer Advisors Inc. lessened its holdings in KeyCorp (NYSE:KEY - Free Report) by 31.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 66,623 shares of the financial services provider's stock after selling 30,412 shares during the period. Pacer Advisors Inc.'s holdings in KeyCorp were worth $1,065,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Fourth Dimension Wealth LLC acquired a new position in shares of KeyCorp during the fourth quarter valued at about $28,000. Allworth Financial LP grew its stake in KeyCorp by 246.9% during the first quarter. Allworth Financial LP now owns 2,168 shares of the financial services provider's stock worth $32,000 after buying an additional 1,543 shares during the last quarter. FSC Wealth Advisors LLC acquired a new position in shares of KeyCorp during the first quarter worth approximately $34,000. NBC Securities Inc. lifted its position in shares of KeyCorp by 123,900.0% during the first quarter. NBC Securities Inc. now owns 2,480 shares of the financial services provider's stock worth $39,000 after purchasing an additional 2,478 shares in the last quarter. Finally, 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. Institutional investors and hedge funds own 79.69% of the company's stock.

KeyCorp Price Performance

Shares of KEY traded down $0.25 during mid-day trading on Thursday, hitting $17.91. 47,084,918 shares of the stock were exchanged, compared to its average volume of 26,840,252. The company has a market cap of $19.63 billion, a PE ratio of -255.86, a price-to-earnings-growth ratio of 0.64 and a beta of 1.11. KeyCorp has a 52-week low of $12.73 and a 52-week high of $20.04. The firm has a 50-day moving average of $17.13 and a two-hundred day moving average of $16.48. 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 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%. The business's revenue for the quarter was up 20.6% compared to the same quarter last year. During the same period last year, the company earned $0.25 earnings per share. On average, equities 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 dividend on an annualized basis and a dividend yield of 4.6%. KeyCorp's payout ratio is -1,171.43%.

Insider Transactions at KeyCorp

In related news, CEO Christopher M. Gorman sold 112,149 shares of the business's stock in a transaction that occurred on Wednesday, July 23rd. The stock was 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 directly owned 619,895 shares in the company, valued at approximately $11,691,219.70. The trade was a 15.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Carlton L. Highsmith sold 5,000 shares of the company'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 completion of the transaction, the director directly owned 37,177 shares in the company, valued at approximately $617,138.20. This trade represents a 11.85% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 153,149 shares of company stock worth $2,821,230. 0.52% of the stock is owned by company insiders.

Analysts Set New Price Targets

KEY has been the topic of several analyst reports. Baird R W lowered shares of KeyCorp from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 2nd. Jefferies Financial Group began coverage on shares of KeyCorp in a research report on Wednesday, May 21st. They issued a "hold" rating and a $18.00 target price for the company. Robert W. Baird cut shares of KeyCorp from an "outperform" rating to a "neutral" rating and set a $18.00 price target for the company. in a research note on Wednesday, July 2nd. Cowen started coverage on shares of KeyCorp in a research note on Wednesday, May 14th. They set a "hold" rating for the company. Finally, Morgan Stanley restated an "equal weight" rating on shares of KeyCorp in a research note on Thursday, April 17th. Twelve investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, KeyCorp presently has a consensus rating of "Hold" and an average price target of $19.39.

KeyCorp Company 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.