Venture Visionary Partners LLC Sells 361,748 Shares of KeyCorp $KEY

Key Points

• Venture Visionary Partners LLC reduced its stake in KeyCorp by 71.0%, selling 361,748 shares and now holding 147,640 shares valued at approximately $2.36 million.
• Analyst ratings for KeyCorp have been mixed, with ten analysts giving it a "Buy" rating and eleven a "Hold" rating, leading to an average price target of $19.39.
• KeyCorp's quarterly earnings showed a profit of $0.35 EPS, surpassing estimates, while the company also declared a quarterly dividend of $0.205, with a yield of 4.5%.

Venture Visionary Partners LLC lessened its stake in KeyCorp (NYSE:KEY - Free Report) by 71.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 147,640 shares of the financial services provider's stock after selling 361,748 shares during the period. Venture Visionary Partners LLC's holdings in KeyCorp were worth $2,361,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Fourth Dimension Wealth LLC bought a new stake in shares of KeyCorp in the 4th quarter valued at about $28,000. Zions Bancorporation National Association UT purchased a new position in KeyCorp during the 1st quarter valued at about $28,000. FSC Wealth Advisors LLC purchased a new position in KeyCorp during the 1st quarter valued at about $34,000. Allworth Financial LP increased its holdings in KeyCorp by 246.9% during the 1st quarter. Allworth Financial LP now owns 2,168 shares of the financial services provider's stock valued at $32,000 after purchasing an additional 1,543 shares during the period. Finally, Optiver Holding B.V. purchased a new position in KeyCorp during the 4th quarter valued at about $42,000. Institutional investors own 79.69% of the company's stock.

KeyCorp Stock Up 4.6%

Shares of KEY stock traded up $0.8430 during midday trading on Friday, reaching $18.9930. 37,059,878 shares of the stock were exchanged, compared to its average volume of 30,055,172. KeyCorp has a 1 year low of $12.73 and a 1 year high of $20.04. The company's 50 day moving average is $17.82 and its two-hundred day moving average is $16.51. 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 firm has a market cap of $20.83 billion, a PE ratio of -271.33, a price-to-earnings-growth ratio of 0.64 and a beta of 1.13.

KeyCorp (NYSE:KEY - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The financial services provider reported $0.35 earnings per share for the quarter, topping analysts' consensus estimates of $0.34 by $0.01. The firm had revenue of $1.84 billion for 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% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.25 EPS. On average, equities research analysts predict that KeyCorp will post 1.5 EPS for the current year.

KeyCorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be paid a $0.205 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $0.82 annualized dividend and a dividend yield of 4.3%. KeyCorp's dividend payout ratio is presently -1,171.43%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on KEY shares. TD Cowen started coverage on KeyCorp in a report on Thursday, May 15th. They set a "hold" rating and a $18.00 price target on the stock. Evercore ISI set a $17.00 price target on KeyCorp in a report on Monday, April 28th. Truist Financial boosted their price target on KeyCorp from $17.00 to $19.00 and gave the company a "hold" rating in a report on Monday, July 28th. Citigroup restated a "neutral" rating and set a $20.00 price target (up previously from $19.00) on shares of KeyCorp in a report on Thursday, July 24th. Finally, Cowen began coverage on KeyCorp in a report on Wednesday, May 14th. They set a "hold" rating on the stock. Ten investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $19.39.

Insider Buying and Selling

In related news, CEO Christopher M. Gorman sold 112,149 shares of the company'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 value of $2,115,130.14. Following the sale, the chief executive officer owned 619,895 shares in the company, valued at $11,691,219.70. This represents a 15.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Amy G. Brady sold 19,000 shares of the company's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $16.09, for a total value of $305,710.00. Following the completion of the sale, the insider owned 82,523 shares in the company, valued at $1,327,795.07. The trade was a 18.71% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 148,149 shares of company stock worth $2,738,230 in the last 90 days. Insiders own 0.52% of the company's stock.

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.