Universal Beteiligungs und Servicegesellschaft mbH Sells 23,255 Shares of KeyCorp (NYSE:KEY)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH reduced its stake in KeyCorp by 5.6%, now holding 393,391 shares worth approximately $6.29 million.
• Recent research reports indicate a mix of ratings for KeyCorp, with a consensus rating of "Hold" and an average target price of $19.24.
• KeyCorp declared a quarterly dividend of $0.205, resulting in an annualized yield of 4.42%, with the ex-dividend date set for September 2nd.

Universal Beteiligungs und Servicegesellschaft mbH trimmed its position in shares of KeyCorp (NYSE:KEY - Free Report) by 5.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 393,391 shares of the financial services provider's stock after selling 23,255 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH's holdings in KeyCorp were worth $6,290,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Fourth Dimension Wealth LLC bought a new position in KeyCorp in the 4th quarter valued at $28,000. FSC Wealth Advisors LLC bought a new position in shares of KeyCorp in the first quarter valued at about $34,000. Allworth Financial LP raised its holdings 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 valued at $32,000 after buying an additional 1,543 shares during the last quarter. Optiver Holding B.V. acquired a new stake in KeyCorp in the 4th quarter valued at about $42,000. Finally, NBC Securities Inc. raised its stake in shares of KeyCorp by 123,900.0% in the first quarter. NBC Securities Inc. now owns 2,480 shares of the financial services provider's stock worth $39,000 after acquiring an additional 2,478 shares during the last quarter. Institutional investors and hedge funds own 79.69% of the company's stock.

Insider Transactions at KeyCorp

In related news, insider Amy G. Brady sold 19,000 shares of the stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $16.09, for a total transaction of $305,710.00. Following the completion of the transaction, the insider directly owned 82,523 shares in the company, valued at approximately $1,327,795.07. This trade represents a 18.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 transaction of $317,390.00. Following the transaction, the director owned 82,719 shares of the company's stock, valued at $1,544,363.73. The trade was a 17.05% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 153,149 shares of company stock worth $2,821,230. Company insiders own 0.52% of the company's stock.

Wall Street Analysts Forecast Growth

KEY has been the topic of several research analyst reports. Truist Financial increased their price target on shares of KeyCorp from $17.00 to $19.00 and gave the company a "hold" rating in a research note on Monday. Barclays decreased their price objective on KeyCorp from $21.00 to $20.00 and set an "equal weight" rating on the stock in a research report on Monday, April 21st. Wells Fargo & Company upped their price target on KeyCorp from $18.00 to $20.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Royal Bank Of Canada reiterated an "outperform" rating on shares of KeyCorp in a research report on Thursday, April 17th. Finally, Evercore ISI set a $17.00 price objective on KeyCorp in a report on Monday, April 28th. Twelve research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $19.39.

KeyCorp Trading Down 0.8%

KEY stock traded down $0.15 during midday trading on Monday, hitting $18.42. 32,396,203 shares of the company's stock were exchanged, compared to its average volume of 15,730,424. KeyCorp has a one year low of $12.73 and a one year high of $20.04. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.83 and a current ratio of 0.84. The company has a market cap of $20.19 billion, a PE ratio of -263.14, a price-to-earnings-growth ratio of 0.66 and a beta of 1.11. The stock's fifty day moving average price is $17.00 and its 200-day moving average price is $16.45.

KeyCorp (NYSE:KEY - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $0.35 earnings per share 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 business had revenue of $1.84 billion for the quarter, compared to analysts' expectations of $1.81 billion. During the same quarter in the previous year, the business posted $0.25 EPS. KeyCorp's revenue for the quarter was up 20.6% on a year-over-year basis. Research analysts predict that KeyCorp will post 1.5 earnings per share for the current fiscal year.

KeyCorp Announces Dividend

The business also recently declared 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. This represents a $0.82 dividend on an annualized basis and a yield of 4.45%. The ex-dividend date of this dividend is Tuesday, September 2nd. KeyCorp's payout ratio is currently -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.