Insider Selling: KeyCorp (NYSE:KEY) Director Sells 17,000 Shares of Stock

Key Points

• Trina M. Evans, a director at KeyCorp, sold 17,000 shares at an average price of $18.67, reducing her holdings by 17.05% to 82,719 shares.
• KeyCorp recently reported earnings of $0.35 per share for the last quarter, surpassing estimates, with revenue increasing by 20.6% year-over-year.
• The company announced a quarterly dividend of $0.205 per share, expected to yield 4.45%, with the payout scheduled for September 15th.

KeyCorp (NYSE:KEY - Get Free Report) Director Trina M. Evans sold 17,000 shares of the firm's stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $18.67, for a total transaction of $317,390.00. Following the completion of the sale, the director owned 82,719 shares of the company's stock, valued at $1,544,363.73. This trade represents a 17.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

KeyCorp Trading Down 2.1%

KEY stock traded down $0.37 during midday trading on Friday, reaching $17.55. 6,567,444 shares of the company's stock traded hands, compared to its average volume of 16,178,017. The company has a market capitalization of $19.23 billion, a P/E ratio of -250.36, a PEG ratio of 0.64 and a beta of 1.11. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.84 and a quick ratio of 0.83. KeyCorp has a fifty-two week low of $12.73 and a fifty-two week high of $20.04. The business has a 50-day moving average price of $17.18 and a two-hundred day moving average price of $16.49.

KeyCorp (NYSE:KEY - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $0.35 earnings per share for the quarter, beating analysts' consensus estimates of $0.34 by $0.01. The firm had revenue of $1.84 billion for the quarter, compared to analysts' expectations of $1.81 billion. KeyCorp had a net margin of 1.49% and a return on equity of 9.65%. KeyCorp's revenue was up 20.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.25 earnings per share. Equities research analysts forecast that KeyCorp will post 1.5 EPS for the current fiscal year.

KeyCorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be given a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date of this dividend is Tuesday, September 2nd. KeyCorp's payout ratio is -1,171.43%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of KEY. Sequoia Financial Advisors LLC lifted its position in shares of KeyCorp by 4.8% during the first quarter. Sequoia Financial Advisors LLC now owns 68,857 shares of the financial services provider's stock worth $1,101,000 after purchasing an additional 3,145 shares in the last quarter. Teacher Retirement System of Texas acquired a new position in shares of KeyCorp during the first quarter worth $2,171,000. Cambridge Investment Research Advisors Inc. lifted its position in shares of KeyCorp by 31.3% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 111,757 shares of the financial services provider's stock worth $1,787,000 after purchasing an additional 26,615 shares in the last quarter. Asset Management One Co. Ltd. lifted its position in shares of KeyCorp by 4.2% during the first quarter. Asset Management One Co. Ltd. now owns 379,514 shares of the financial services provider's stock worth $6,068,000 after purchasing an additional 15,367 shares in the last quarter. Finally, Blue Trust Inc. lifted its position in shares of KeyCorp by 41.9% during the first quarter. Blue Trust Inc. now owns 20,786 shares of the financial services provider's stock worth $332,000 after purchasing an additional 6,135 shares in the last quarter. 79.69% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

KEY has been the subject of a number of research reports. Keefe, Bruyette & Woods cut their target price on shares of KeyCorp from $20.00 to $18.00 and set an "outperform" rating for the company in a research report on Monday, April 21st. Royal Bank Of Canada restated an "outperform" rating on shares of KeyCorp in a research report on Thursday, April 17th. Wells Fargo & Company lifted their target price on shares of KeyCorp from $18.00 to $20.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Robert W. Baird cut shares of KeyCorp from an "outperform" rating to a "neutral" rating and set a $18.00 target price for the company. in a research report on Wednesday, July 2nd. Finally, Cowen initiated coverage on shares of KeyCorp in a research report on Wednesday, May 14th. They set a "hold" rating for the company. Twelve investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $19.39.

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.