KeyCorp (NYSE:KEY) Shares Sold by Modera Wealth Management LLC

Modera Wealth Management LLC cut its stake in KeyCorp (NYSE:KEY) by 5.1% during the 1st quarter, HoldingsChannel reports. The fund owned 15,677 shares of the financial services provider’s stock after selling 844 shares during the period. Modera Wealth Management LLC’s holdings in KeyCorp were worth $251,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Fourth Dimension Wealth LLC bought a new position in shares of KeyCorp during the fourth quarter worth about $28,000. FSC Wealth Advisors LLC bought a new position in shares of KeyCorp during the first quarter worth about $34,000. Allworth Financial LP grew its position in KeyCorp by 246.9% in the 1st quarter. Allworth Financial LP now owns 2,168 shares of the financial services provider’s stock valued at $32,000 after buying an additional 1,543 shares in the last quarter. Optiver Holding B.V. bought a new position in KeyCorp in the 4th quarter valued at about $42,000. Finally, NBC Securities Inc. grew its position in KeyCorp by 123,900.0% in the 1st quarter. NBC Securities Inc. now owns 2,480 shares of the financial services provider’s stock valued at $39,000 after buying an additional 2,478 shares in the last quarter. 79.69% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other KeyCorp news, Director Carlton L. Highsmith sold 5,000 shares of the firm’s stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $16.60, for a total transaction of $83,000.00. Following the completion of the sale, the director owned 37,177 shares of the company’s stock, valued at $617,138.20. This trade represents a 11.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Amy G. Brady sold 19,000 shares of the firm’s stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $16.09, for a total value of $305,710.00. Following the sale, the insider directly owned 82,523 shares of the company’s stock, valued at $1,327,795.07. This represents a 18.71% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 153,149 shares of company stock worth $2,821,230. Company insiders own 0.52% of the company’s stock.

KeyCorp Price Performance

Shares of KEY opened at $17.63 on Friday. The stock has a market capitalization of $19.32 billion, a P/E ratio of -251.86, a P/E/G ratio of 0.63 and a beta of 1.13. KeyCorp has a twelve month low of $12.73 and a twelve month high of $20.04. The company has a 50 day moving average of $17.22 and a 200-day moving average of $16.49. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.71.

KeyCorp (NYSE:KEY) last released its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $0.35 EPS for the quarter, beating the consensus estimate of $0.34 by $0.01. The company had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.81 billion. KeyCorp had a return on equity of 9.65% and a net margin of 1.49%. The firm’s revenue for the quarter was up 20.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.25 EPS. As a group, 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 issued a dividend of $0.205 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $0.82 annualized dividend and a yield of 4.7%. KeyCorp’s dividend payout ratio (DPR) is currently -1,171.43%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on KEY shares. TD Cowen started coverage on shares of KeyCorp in a research report on Thursday, May 15th. They set a “hold” rating and a $18.00 price objective for the company. UBS Group raised shares of KeyCorp from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $16.00 to $22.00 in a research report on Tuesday, July 8th. Barclays cut their price target on shares of KeyCorp from $21.00 to $20.00 and set an “equal weight” rating on the stock in a report on Monday, April 21st. Jefferies Financial Group initiated coverage on shares of KeyCorp in a report on Wednesday, May 21st. They set a “hold” rating and a $18.00 price target on the stock. Finally, Robert W. Baird lowered shares of KeyCorp from an “outperform” rating to a “neutral” rating and set a $18.00 price target on the stock. in a report on Wednesday, July 2nd. Twelve 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 presently has a consensus rating of “Hold” and an average price target of $19.39.

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.