KeyCorp (NYSE:KEY) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC reduced its position in KeyCorp (NYSE:KEY) by 77.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 132,390 shares of the financial services provider’s stock after selling 460,503 shares during the quarter. Intech Investment Management LLC’s holdings in KeyCorp were worth $2,218,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wolff Wiese Magana LLC boosted its position in KeyCorp by 285.5% during the third quarter. Wolff Wiese Magana LLC now owns 1,542 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 1,142 shares during the last quarter. Pathway Financial Advisers LLC acquired a new position in shares of KeyCorp during the 1st quarter worth approximately $25,000. American Capital Advisory LLC purchased a new stake in shares of KeyCorp in the third quarter valued at approximately $28,000. Catalyst Capital Advisors LLC acquired a new stake in shares of KeyCorp in the third quarter valued at approximately $35,000. Finally, Capital Performance Advisors LLP purchased a new position in KeyCorp during the third quarter worth approximately $38,000. Hedge funds and other institutional investors own 79.69% of the company’s stock.

KeyCorp Stock Up 2.0 %

Shares of KEY opened at $19.60 on Monday. The company’s 50-day simple moving average is $17.55 and its 200-day simple moving average is $15.97. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.88 and a current ratio of 0.88. KeyCorp has a 1 year low of $11.64 and a 1 year high of $20.00. The stock has a market capitalization of $19.43 billion, a PE ratio of 1,960.00, a P/E/G ratio of 1.08 and a beta of 1.24.

KeyCorp (NYSE:KEY) last announced its quarterly earnings data on Thursday, October 17th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.03. KeyCorp had a return on equity of 8.24% and a net margin of 0.76%. The business had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.59 billion. Analysts forecast that KeyCorp will post 1.09 earnings per share for the current fiscal year.

KeyCorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Tuesday, December 3rd will be issued a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 4.18%. The ex-dividend date is Tuesday, December 3rd. KeyCorp’s dividend payout ratio (DPR) is presently 8,200.00%.

Insider Activity

In other KeyCorp news, Director Carlton L. Highsmith sold 9,000 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $17.14, for a total value of $154,260.00. Following the completion of the transaction, the director now owns 37,864 shares in the company, valued at $648,988.96. This represents a 19.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Angela G. Mago sold 15,011 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $19.59, for a total value of $294,065.49. Following the completion of the sale, the insider now directly owns 234,582 shares of the company’s stock, valued at $4,595,461.38. The trade was a 6.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Wells Fargo & Company raised their target price on KeyCorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. UBS Group lifted their target price on shares of KeyCorp from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Wedbush increased their price target on shares of KeyCorp from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Tuesday, September 24th. DA Davidson lifted their price target on shares of KeyCorp from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Finally, Evercore ISI upped their price objective on KeyCorp from $18.50 to $20.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.03.

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.