Rhumbline Advisers Sells 75,328 Shares of KeyCorp $KEY

Rhumbline Advisers lowered its stake in shares of KeyCorp (NYSE:KEY) by 4.0% during the third quarter, Holdings Channel.com reports. The firm owned 1,816,835 shares of the financial services provider’s stock after selling 75,328 shares during the quarter. Rhumbline Advisers’ holdings in KeyCorp were worth $33,957,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in KEY. United Community Bank bought a new stake in shares of KeyCorp in the 3rd quarter valued at about $27,000. Sachetta LLC raised its stake in shares of KeyCorp by 1,246.1% during the 3rd quarter. Sachetta LLC now owns 1,723 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 1,595 shares in the last quarter. Elevation Point Wealth Partners LLC purchased a new stake in KeyCorp during the second quarter valued at approximately $36,000. Root Financial Partners LLC acquired a new stake in KeyCorp in the third quarter valued at approximately $37,000. Finally, Capital A Wealth Management LLC grew its holdings in KeyCorp by 252.8% in the second quarter. Capital A Wealth Management LLC now owns 2,237 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 1,603 shares during the last quarter. 79.69% of the stock is currently owned by institutional investors.

KeyCorp Trading Down 0.4%

Shares of NYSE:KEY opened at $21.67 on Friday. KeyCorp has a 52-week low of $12.73 and a 52-week high of $23.34. The stock has a market cap of $23.68 billion, a price-to-earnings ratio of 14.25, a PEG ratio of 0.53 and a beta of 1.10. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.55. The business has a 50-day moving average price of $21.31 and a 200-day moving average price of $19.30.

KeyCorp (NYSE:KEY) last posted its quarterly earnings results on Tuesday, January 20th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. KeyCorp had a net margin of 15.97% and a return on equity of 10.28%. The company had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.95 billion. During the same period last year, the firm posted $0.30 EPS. KeyCorp’s revenue for the quarter was up 131.8% compared to the same quarter last year. Equities analysts predict that KeyCorp will post 1.5 EPS for the current year.

KeyCorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Tuesday, March 3rd will be given a dividend of $0.205 per share. The ex-dividend date is Tuesday, March 3rd. This represents a $0.82 dividend on an annualized basis and a yield of 3.8%. KeyCorp’s payout ratio is currently 53.95%.

Analyst Ratings Changes

Several brokerages have recently commented on KEY. Keefe, Bruyette & Woods increased their price objective on KeyCorp from $21.00 to $24.00 and gave the company an “outperform” rating in a report on Wednesday, December 17th. Stephens increased their price target on KeyCorp from $21.00 to $23.00 and gave the company an “overweight” rating in a research note on Thursday, December 18th. Truist Financial boosted their price target on KeyCorp from $22.00 to $23.00 and gave the stock a “hold” rating in a research note on Monday, January 26th. Citigroup restated a “neutral” rating on shares of KeyCorp in a report on Wednesday, December 31st. Finally, TD Cowen reiterated a “buy” rating on shares of KeyCorp in a research note on Wednesday, January 7th. Twelve analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, KeyCorp currently has an average rating of “Hold” and an average target price of $23.03.

Insider Buying and Selling at KeyCorp

In other KeyCorp news, insider Andrew J. Paine III sold 65,961 shares of KeyCorp stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $23.23, for a total transaction of $1,532,274.03. Following the completion of the transaction, the insider owned 166,583 shares in the company, valued at approximately $3,869,723.09. This trade represents a 28.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Angela G. Mago sold 62,850 shares of the company’s stock in a transaction dated Thursday, January 29th. The stock was sold at an average price of $21.55, for a total value of $1,354,417.50. Following the completion of the sale, the insider owned 261,415 shares in the company, valued at $5,633,493.25. The trade was a 19.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 161,506 shares of company stock valued at $3,597,481. 0.52% of the stock is owned by insiders.

KeyCorp Profile

KeyCorp is a bank holding company headquartered in Cleveland, Ohio, that operates through its primary banking subsidiary, KeyBank. It provides a broad range of banking and financial services to individual consumers, small businesses, middle-market companies and large corporations. KeyBank’s offerings span traditional deposit and lending products as well as more specialized financial solutions designed for commercial and institutional clients.

The company’s product and service mix includes retail banking products such as checking and savings accounts, consumer and residential mortgage lending, and auto financing.