Prime Capital Investment Advisors LLC Sells 1,424 Shares of KeyCorp $KEY

Prime Capital Investment Advisors LLC trimmed its stake in KeyCorp (NYSE:KEY) by 4.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 27,522 shares of the financial services provider’s stock after selling 1,424 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in KeyCorp were worth $479,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Dakota Wealth Management boosted its stake in KeyCorp by 2.2% in the 2nd quarter. Dakota Wealth Management now owns 27,374 shares of the financial services provider’s stock worth $477,000 after purchasing an additional 586 shares in the last quarter. Investors Asset Management of Georgia Inc. GA ADV lifted its stake in shares of KeyCorp by 2.9% in the second quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 22,412 shares of the financial services provider’s stock worth $389,000 after buying an additional 639 shares in the last quarter. AlphaCore Capital LLC lifted its stake in shares of KeyCorp by 5.2% in the first quarter. AlphaCore Capital LLC now owns 13,238 shares of the financial services provider’s stock worth $212,000 after buying an additional 651 shares in the last quarter. SBI Securities Co. Ltd. lifted its stake in shares of KeyCorp by 34.0% in the first quarter. SBI Securities Co. Ltd. now owns 2,644 shares of the financial services provider’s stock worth $42,000 after buying an additional 671 shares in the last quarter. Finally, Greenleaf Trust lifted its stake in shares of KeyCorp by 5.7% in the second quarter. Greenleaf Trust now owns 12,738 shares of the financial services provider’s stock worth $222,000 after buying an additional 691 shares in the last quarter. Institutional investors own 79.69% of the company’s stock.

Insider Buying and Selling

In other news, Director Trina M. Evans sold 17,000 shares of the firm’s stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $18.67, for a total value of $317,390.00. Following the transaction, the director owned 82,719 shares of the company’s stock, valued at $1,544,363.73. This trade represents a 17.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Christopher M. Gorman sold 112,149 shares of the firm’s stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $18.86, for a total value of $2,115,130.14. Following the completion of the transaction, the chief executive officer directly owned 619,895 shares in the company, valued at $11,691,219.70. This trade represents a 15.32% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 174,102 shares of company stock valued at $3,299,664. 0.52% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on KEY shares. Evercore ISI upped their price objective on KeyCorp from $21.00 to $22.00 and gave the company an “outperform” rating in a research report on Tuesday, September 30th. Citigroup reaffirmed a “neutral” rating and set a $20.00 price target (up from $19.00) on shares of KeyCorp in a report on Thursday, July 24th. Wells Fargo & Company upped their price target on KeyCorp from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, October 3rd. Bank of America upped their target price on shares of KeyCorp from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Monday, June 16th. Finally, UBS Group upped their target price on shares of KeyCorp from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Tuesday. Ten research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $20.53.

KeyCorp Stock Down 5.4%

KEY stock opened at $17.19 on Friday. The business’s 50-day moving average is $18.58 and its two-hundred day moving average is $17.02. KeyCorp has a fifty-two week low of $12.73 and a fifty-two week high of $20.04. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.83 and a current ratio of 0.84. The company has a market cap of $18.85 billion, a price-to-earnings ratio of -245.57, a P/E/G ratio of 0.64 and a beta of 1.15.

KeyCorp (NYSE:KEY) last issued its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.01. KeyCorp had a net margin of 1.49% and a return on equity of 9.65%. The firm had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.81 billion. During the same quarter in the prior year, the business earned $0.25 EPS. The business’s quarterly revenue was up 20.6% on a year-over-year basis. As a group, analysts forecast that KeyCorp will post 1.5 earnings per share for the current year.

KeyCorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were issued a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date of this dividend was Tuesday, September 2nd. KeyCorp’s dividend payout ratio (DPR) is currently -1,171.43%.

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.