Daymark Wealth Partners LLC Sells 3,173 Shares of KeyCorp (NYSE:KEY)

Daymark Wealth Partners LLC lessened its holdings in shares of KeyCorp (NYSE:KEY) by 14.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,454 shares of the financial services provider’s stock after selling 3,173 shares during the quarter. Daymark Wealth Partners LLC’s holdings in KeyCorp were worth $276,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Valeo Financial Advisors LLC grew its stake in KeyCorp by 1.0% in the 1st quarter. Valeo Financial Advisors LLC now owns 69,213 shares of the financial services provider’s stock valued at $1,094,000 after buying an additional 704 shares in the last quarter. Raymond James Trust N.A. grew its position in shares of KeyCorp by 2.5% in the second quarter. Raymond James Trust N.A. now owns 30,155 shares of the financial services provider’s stock valued at $429,000 after purchasing an additional 724 shares in the last quarter. Caldwell Sutter Capital Inc. raised its stake in shares of KeyCorp by 3.7% during the 1st quarter. Caldwell Sutter Capital Inc. now owns 20,927 shares of the financial services provider’s stock valued at $331,000 after purchasing an additional 742 shares during the period. Czech National Bank lifted its holdings in KeyCorp by 0.5% during the 1st quarter. Czech National Bank now owns 164,768 shares of the financial services provider’s stock worth $2,605,000 after purchasing an additional 788 shares in the last quarter. Finally, CWM LLC boosted its stake in KeyCorp by 1.7% in the 1st quarter. CWM LLC now owns 50,656 shares of the financial services provider’s stock worth $801,000 after purchasing an additional 837 shares during the period. Hedge funds and other institutional investors own 79.69% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on KEY. Evercore ISI decreased their price target on KeyCorp from $17.50 to $16.50 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th. Citigroup boosted their price target on shares of KeyCorp from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. DA Davidson increased their price objective on KeyCorp from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. Royal Bank of Canada restated an “outperform” rating and set a $17.00 target price on shares of KeyCorp in a research report on Tuesday, August 13th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $18.00 price target on shares of KeyCorp in a report on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $16.71.

Insider Activity

In related news, Director Carlton L. Highsmith sold 10,000 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $16.21, for a total value of $162,100.00. Following the sale, the director now directly owns 46,864 shares of the company’s stock, valued at $759,665.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.61% of the company’s stock.

KeyCorp Price Performance

Shares of NYSE:KEY opened at $16.61 on Friday. The company’s fifty day moving average is $16.13 and its 200 day moving average is $15.16. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.37. KeyCorp has a 52 week low of $9.50 and a 52 week high of $17.39. The stock has a market cap of $15.66 billion, a PE ratio of 21.03, a PEG ratio of 0.92 and a beta of 1.25.

KeyCorp (NYSE:KEY) last issued its earnings results on Thursday, July 18th. The financial services provider reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.01. KeyCorp had a return on equity of 8.64% and a net margin of 7.35%. The company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same period in the prior year, the business posted $0.27 EPS. KeyCorp’s quarterly revenue was down 4.3% compared to the same quarter last year. Research analysts anticipate that KeyCorp will post 1.09 earnings per share for the current year.

KeyCorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Tuesday, August 27th were given a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.94%. The ex-dividend date was Tuesday, August 27th. KeyCorp’s payout ratio is 103.80%.

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.