Teza Capital Management LLC Sells 19,139 Shares of KeyCorp $KEY

Key Points

• Teza Capital Management LLC reduced its stake in KeyCorp by 51.8% in the first quarter, holding 17,804 shares worth $285,000 after selling 19,139 shares.
• Insider selling activity included a transaction where Amy G. Brady sold 19,000 shares for $305,710, resulting in an 18.71% decrease in her position.
• KeyCorp announced a quarterly dividend of $0.205 per share, with a dividend yield of 4.3%, payable on September 15th to shareholders recorded by September 2nd.

Teza Capital Management LLC lowered its stake in shares of KeyCorp (NYSE:KEY - Free Report) by 51.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,804 shares of the financial services provider's stock after selling 19,139 shares during the period. Teza Capital Management LLC's holdings in KeyCorp were worth $285,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in shares of KeyCorp by 7.2% during the 1st quarter. Vanguard Group Inc. now owns 125,345,385 shares of the financial services provider's stock valued at $2,004,273,000 after purchasing an additional 8,412,625 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of KeyCorp by 40.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 50,954,013 shares of the financial services provider's stock valued at $814,756,000 after purchasing an additional 14,651,281 shares in the last quarter. Fuller & Thaler Asset Management Inc. lifted its holdings in shares of KeyCorp by 12.2% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 30,511,720 shares of the financial services provider's stock valued at $487,882,000 after purchasing an additional 3,327,972 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of KeyCorp by 19.5% during the 1st quarter. Invesco Ltd. now owns 20,623,929 shares of the financial services provider's stock valued at $329,777,000 after purchasing an additional 3,363,421 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of KeyCorp by 2.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 11,201,253 shares of the financial services provider's stock valued at $179,084,000 after purchasing an additional 319,019 shares in the last quarter. Institutional investors own 79.69% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on KEY shares. Robert W. Baird cut KeyCorp from an "outperform" rating to a "neutral" rating and set a $18.00 price objective on the stock. in a report on Wednesday, July 2nd. Bank of America lifted their price objective on KeyCorp from $18.00 to $20.00 and gave the company a "buy" rating in a report on Monday, June 16th. Jefferies Financial Group assumed coverage on KeyCorp in a report on Wednesday, May 21st. They set a "hold" rating and a $18.00 price objective on the stock. Baird R W lowered KeyCorp from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 2nd. Finally, UBS Group raised KeyCorp from a "neutral" rating to a "buy" rating and lifted their target price for the company from $16.00 to $22.00 in a research report on Tuesday, July 8th. Ten research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $19.39.

Insider Transactions at KeyCorp

In other news, insider Andrew J. Paine III sold 44,953 shares of KeyCorp stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $19.29, for a total transaction of $867,143.37. Following the completion of the transaction, the insider directly owned 245,044 shares in the company, valued at approximately $4,726,898.76. The trade was a 15.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Christopher M. Gorman sold 112,149 shares of the business's stock in a transaction 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 owned 619,895 shares of the company's stock, valued at $11,691,219.70. This trade represents a 15.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 174,102 shares of company stock worth $3,299,664. 0.52% of the stock is owned by company insiders.

KeyCorp Stock Down 0.4%

Shares of NYSE:KEY traded down $0.08 during trading on Friday, hitting $19.08. 23,205,895 shares of the company were exchanged, compared to its average volume of 18,254,689. The stock has a market cap of $20.92 billion, a price-to-earnings ratio of -272.53, a P/E/G ratio of 0.68 and a beta of 1.15. KeyCorp has a fifty-two week low of $12.73 and a fifty-two week high of $20.04. The firm has a fifty day moving average price of $18.46 and a two-hundred day moving average price of $16.66. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.71.

KeyCorp (NYSE:KEY - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The financial services provider reported $0.35 EPS for the quarter, topping 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 company had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.81 billion. During the same period in the previous year, the company posted $0.25 EPS. The firm's revenue for the quarter was up 20.6% compared to the same quarter last year. As a group, research analysts anticipate that KeyCorp will post 1.5 earnings per share 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 paid a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 4.3%. The ex-dividend date is Tuesday, September 2nd. KeyCorp's payout ratio is currently -1,171.43%.

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.