Victory Capital Management Inc. Decreases Stock Holdings in KeyCorp (NYSE:KEY)

Victory Capital Management Inc. lessened its stake in KeyCorp (NYSE:KEY - Free Report) by 11.8% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,245,662 shares of the financial services provider's stock after selling 700,412 shares during the quarter. Victory Capital Management Inc. owned approximately 0.48% of KeyCorp worth $83,878,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Whittier Trust Co. grew its position in shares of KeyCorp by 110.3% during the fourth quarter. Whittier Trust Co. now owns 1,525 shares of the financial services provider's stock worth $26,000 after buying an additional 800 shares in the last quarter. Fourth Dimension Wealth LLC purchased a new position in shares of KeyCorp in the 4th quarter worth about $28,000. FSC Wealth Advisors LLC acquired a new stake in KeyCorp during the 1st quarter valued at approximately $34,000. Allworth Financial LP grew its position in shares of KeyCorp by 246.9% in the 1st quarter. Allworth Financial LP now owns 2,168 shares of the financial services provider's stock worth $32,000 after acquiring an additional 1,543 shares in the last quarter. Finally, Optiver Holding B.V. bought a new stake in shares of KeyCorp in the 4th quarter worth approximately $42,000. 79.69% of the stock is currently owned by institutional investors.

KeyCorp Price Performance

Shares of KEY opened at $18.39 on Friday. KeyCorp has a fifty-two week low of $12.73 and a fifty-two week high of $20.04. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.83 and a current ratio of 0.84. The company has a market capitalization of $20.15 billion, a P/E ratio of -108.15, a P/E/G ratio of 0.67 and a beta of 1.11. The business's 50-day moving average is $16.74 and its two-hundred day moving average is $16.40.

KeyCorp (NYSE:KEY - Get Free Report) last announced its quarterly earnings results on Thursday, April 17th. The financial services provider reported $0.33 earnings per share for the quarter, beating analysts' consensus estimates of $0.32 by $0.01. The firm had revenue of $1.77 billion during the quarter, compared to analysts' expectations of $1.77 billion. KeyCorp had a negative net margin of 0.12% and a positive return on equity of 9.43%. During the same period in the previous year, the company earned $0.20 earnings per share. Research analysts predict that KeyCorp will post 1.5 earnings per share for the current year.

KeyCorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be issued a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 4.46%. The ex-dividend date is Tuesday, September 2nd. KeyCorp's dividend payout ratio is currently -482.35%.

Insider Buying and Selling at KeyCorp

In other news, insider Mohit Ramani purchased 10,000 shares of the business's stock in a transaction dated Monday, April 21st. The shares were acquired at an average price of $13.75 per share, for a total transaction of $137,500.00. Following the completion of the acquisition, the insider directly owned 10,000 shares of the company's stock, valued at $137,500. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Carlton L. Highsmith sold 5,000 shares of the business's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $16.60, for a total transaction of $83,000.00. Following the completion of the sale, the director owned 37,177 shares of the company's stock, valued at $617,138.20. The trade was a 11.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.52% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on KEY shares. Royal Bank Of Canada restated an "outperform" rating on shares of KeyCorp in a research note on Thursday, April 17th. Truist Financial dropped their price objective on KeyCorp from $18.00 to $16.00 and set a "hold" rating on the stock in a research note on Tuesday, April 22nd. Cowen began coverage on KeyCorp in a research note on Wednesday, May 14th. They set a "hold" rating on the stock. Bank of America raised 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. Finally, Robert W. Baird downgraded KeyCorp from an "outperform" rating to a "neutral" rating and set a $18.00 price target on the stock. in a research note on Wednesday, July 2nd. Eleven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat, KeyCorp presently has a consensus rating of "Moderate Buy" and a consensus target price of $19.18.

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.

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