Insider Selling: KeyCorp (NYSE:KEY) Insider Sells 44,953 Shares of Stock

Key Points

• Andrew Paine III, an insider at KeyCorp, sold 44,953 shares of stock on September 9th for a total value of $867,143, resulting in a 15.50% decrease in ownership.
• KeyCorp recently reported earnings of $0.35 per share for the last quarter, surpassing analyst expectations and reflecting a 20.6% increase in revenue year-over-year.
• The company announced a quarterly dividend of $0.205 per share, with an annualized dividend yield of 4.3%, to be paid on September 15th to stockholders of record.

KeyCorp (NYSE:KEY - Get Free Report) insider Andrew Paine III sold 44,953 shares of KeyCorp stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $19.29, for a total value of $867,143.37. Following the sale, the insider directly owned 245,044 shares in the company, valued at $4,726,898.76. The trade was a 15.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

KeyCorp Trading Down 0.3%

Shares of KEY stock traded down $0.06 during mid-day trading on Thursday, reaching $19.17. 25,645,754 shares of the stock traded hands, compared to its average volume of 18,226,063. The stock's fifty day simple moving average is $18.45 and its two-hundred day simple moving average is $16.64. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.71. The company has a market cap of $21.02 billion, a price-to-earnings ratio of -273.86, a price-to-earnings-growth ratio of 0.67 and a beta of 1.15. KeyCorp has a 1-year low of $12.73 and a 1-year high of $20.04.

KeyCorp (NYSE:KEY - Get Free Report) last issued its quarterly earnings results 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. KeyCorp had a return on equity of 9.65% and a net margin of 1.49%.The firm had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.81 billion. During the same period in the previous year, the firm earned $0.25 earnings per share. The company's revenue was up 20.6% compared to the same quarter last year. On average, research analysts anticipate that KeyCorp will post 1.5 EPS for the current fiscal year.

KeyCorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be issued a dividend of $0.205 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $0.82 annualized dividend and a dividend yield of 4.3%. KeyCorp's payout ratio is currently -1,171.43%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Truist Financial boosted their price objective on KeyCorp from $17.00 to $19.00 and gave the company a "hold" rating in a report on Monday, July 28th. Baird R W lowered KeyCorp from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 2nd. DA Davidson increased their price target on KeyCorp from $19.00 to $21.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. UBS Group raised KeyCorp from a "neutral" rating to a "buy" rating and increased their price target for the company from $16.00 to $22.00 in a research report on Tuesday, July 8th. Finally, Bank of America increased their price target on KeyCorp from $18.00 to $20.00 and gave the company a "buy" rating in a research report on Monday, June 16th. Ten research 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 stock has a consensus rating of "Hold" and an average target price of $19.39.

Institutional Trading of KeyCorp

A number of institutional investors have recently added to or reduced their stakes in KEY. Price T Rowe Associates Inc. MD increased its stake in KeyCorp by 40.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 50,954,013 shares of the financial services provider's stock worth $814,756,000 after acquiring an additional 14,651,281 shares during the last quarter. Norges Bank bought a new position in KeyCorp in the 2nd quarter worth about $195,642,000. Vanguard Group Inc. increased its stake in KeyCorp by 7.2% in the 1st quarter. Vanguard Group Inc. now owns 125,345,385 shares of the financial services provider's stock worth $2,004,273,000 after acquiring an additional 8,412,625 shares during the last quarter. HoldCo Asset Management LP bought a new position in KeyCorp in the 2nd quarter worth about $86,995,000. Finally, Wellington Management Group LLP increased its stake in KeyCorp by 1,142.4% in the 1st quarter. Wellington Management Group LLP now owns 5,001,779 shares of the financial services provider's stock worth $79,978,000 after acquiring an additional 4,599,197 shares during the last quarter. Hedge funds and other institutional investors own 79.69% of the company's stock.

KeyCorp Company 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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