KeyCorp (NYSE:KEY) Shares Sold by Private Advisor Group LLC

Private Advisor Group LLC lowered its stake in shares of KeyCorp (NYSE:KEY - Free Report) by 21.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 120,315 shares of the financial services provider's stock after selling 33,468 shares during the period. Private Advisor Group LLC's holdings in KeyCorp were worth $1,924,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Fourth Dimension Wealth LLC bought a new position in shares of KeyCorp during the fourth quarter valued at about $28,000. Allworth Financial LP grew its stake in shares of KeyCorp by 246.9% in the first 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. FSC Wealth Advisors LLC bought a new stake in KeyCorp during the 1st quarter valued at approximately $34,000. NBC Securities Inc. boosted its position in KeyCorp by 123,900.0% during the 1st quarter. NBC Securities Inc. now owns 2,480 shares of the financial services provider's stock valued at $39,000 after acquiring an additional 2,478 shares in the last quarter. Finally, Capital Advisors Ltd. LLC boosted its position in KeyCorp by 44.1% during the 1st quarter. Capital Advisors Ltd. LLC now owns 2,504 shares of the financial services provider's stock valued at $40,000 after acquiring an additional 766 shares in the last quarter. Hedge funds and other institutional investors own 79.69% of the company's stock.

Insider Buying and Selling at KeyCorp

In other KeyCorp news, CEO Christopher M. Gorman sold 112,149 shares of the firm's stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $18.86, for a total value 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 $11,691,219.70. This trade represents a 15.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Amy G. Brady sold 19,000 shares of the firm's stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $16.09, for a total transaction of $305,710.00. Following the completion of the sale, the insider owned 82,523 shares of the company's stock, valued at approximately $1,327,795.07. This trade represents a 18.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 136,149 shares of company stock worth $2,503,840 over the last three months. Corporate insiders own 0.52% of the company's stock.

KeyCorp Trading Up 0.4%

Shares of NYSE:KEY traded up $0.07 during trading on Friday, reaching $18.57. 39,231,158 shares of the company were exchanged, compared to its average volume of 23,438,416. The firm has a market capitalization of $20.35 billion, a PE ratio of -265.21, a P/E/G ratio of 0.65 and a beta of 1.11. The business's fifty day simple moving average is $16.96 and its 200-day simple moving average is $16.45. KeyCorp has a 12-month low of $12.73 and a 12-month high of $20.04. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.84 and a quick ratio of 0.83.

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

KeyCorp Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $0.82 annualized dividend and a yield of 4.42%. KeyCorp's dividend payout ratio (DPR) is -482.35%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on KEY. Citigroup reissued a "neutral" rating and issued a $20.00 price target (up from $19.00) on shares of KeyCorp in a research report on Thursday. Wells Fargo & Company boosted their target price on shares of KeyCorp from $18.00 to $20.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Barclays decreased their target price on shares of KeyCorp from $21.00 to $20.00 and set an "equal weight" rating for the company in a research note on Monday, April 21st. Wall Street Zen upgraded shares of KeyCorp from a "sell" rating to a "hold" rating in a research note on Monday, April 21st. Finally, Bank of America boosted their price objective on shares of KeyCorp from $18.00 to $20.00 and gave the company a "buy" rating in a research report on Monday, June 16th. Twelve investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $19.24.

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.