Amy G. Brady Sells 19,000 Shares of KeyCorp (NYSE:KEY) Stock

KeyCorp (NYSE:KEY) insider Amy G. Brady sold 19,000 shares of the company’s stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $16.09, for a total value of $305,710.00. Following the sale, the insider now owns 82,523 shares in the company, valued at $1,327,795.07. The trade was a 18.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

KeyCorp Price Performance

KeyCorp stock opened at $15.63 on Friday. KeyCorp has a 12 month low of $12.73 and a 12 month high of $20.04. The stock’s 50 day moving average is $15.34 and its 200-day moving average is $16.48. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $17.12 billion, a price-to-earnings ratio of -52.08, a PEG ratio of 0.65 and a beta of 1.09.

KeyCorp (NYSE:KEY) last posted its earnings results on Thursday, April 17th. The financial services provider reported $0.33 EPS for the quarter, beating the consensus estimate of $0.32 by $0.01. KeyCorp had a positive return on equity of 8.73% and a negative net margin of 2.52%. The company had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter in the prior year, the business earned $0.20 earnings per share. Equities research analysts expect that KeyCorp will post 1.5 EPS for the current year.

KeyCorp declared that its board has approved a stock repurchase plan on Thursday, March 13th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to buy up to 6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

KeyCorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Tuesday, May 27th were given a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 5.25%. The ex-dividend date of this dividend was Tuesday, May 27th. KeyCorp’s payout ratio is -482.35%.

Analyst Ratings Changes

Several research firms recently issued reports on KEY. Citigroup reiterated a “buy” rating on shares of KeyCorp in a report on Thursday, April 17th. Wells Fargo & Company reiterated an “overweight” rating on shares of KeyCorp in a report on Thursday, April 17th. TD Cowen began coverage on KeyCorp in a report on Thursday, May 15th. They set a “hold” rating and a $18.00 target price on the stock. Jefferies Financial Group began coverage on KeyCorp in a report on Wednesday, May 21st. They set a “hold” rating and a $18.00 target price on the stock. Finally, Barclays dropped their target price on KeyCorp from $21.00 to $20.00 and set an “equal weight” rating on the stock in a report on Monday, April 21st. Eleven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, KeyCorp currently has an average rating of “Moderate Buy” and an average price target of $18.86.

Hedge Funds Weigh In On KeyCorp

Institutional investors and hedge funds have recently made changes to their positions in the company. Strs Ohio acquired a new stake in KeyCorp during the first quarter worth approximately $1,431,000. Intrua Financial LLC grew its position in KeyCorp by 22.9% during the first quarter. Intrua Financial LLC now owns 42,283 shares of the financial services provider’s stock worth $676,000 after buying an additional 7,877 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in KeyCorp by 2.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,356,598 shares of the financial services provider’s stock worth $117,632,000 after buying an additional 172,151 shares in the last quarter. Woodline Partners LP grew its position in KeyCorp by 41.4% during the first quarter. Woodline Partners LP now owns 84,156 shares of the financial services provider’s stock worth $1,346,000 after buying an additional 24,627 shares in the last quarter. Finally, MBB Public Markets I LLC acquired a new stake in KeyCorp during the first quarter worth approximately $312,000. Institutional investors and hedge funds 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.