O ROURKE & COMPANY Inc Cuts Stock Position in KeyCorp $KEY

O ROURKE & COMPANY Inc lessened its holdings in KeyCorp (NYSE:KEY) by 11.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,631 shares of the financial services provider’s stock after selling 3,293 shares during the period. O ROURKE & COMPANY Inc’s holdings in KeyCorp were worth $429,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Sequoia Financial Advisors LLC raised its stake in shares of KeyCorp by 4.8% in the 1st quarter. Sequoia Financial Advisors LLC now owns 68,857 shares of the financial services provider’s stock valued at $1,101,000 after acquiring an additional 3,145 shares during the period. Teacher Retirement System of Texas purchased a new stake in KeyCorp during the 1st quarter worth $2,171,000. Signal Advisors Wealth LLC purchased a new stake in KeyCorp during the 2nd quarter worth $431,000. Gradient Investments LLC purchased a new stake in KeyCorp during the 2nd quarter worth $1,973,000. Finally, Cambridge Investment Research Advisors Inc. increased its stake in KeyCorp by 31.3% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 111,757 shares of the financial services provider’s stock worth $1,787,000 after buying an additional 26,615 shares during the period. Hedge funds and other institutional investors own 79.69% of the company’s stock.

KeyCorp Price Performance

Shares of KEY stock opened at $18.68 on Wednesday. KeyCorp has a 1-year low of $12.73 and a 1-year high of $20.04. The firm has a fifty day moving average of $18.59 and a two-hundred day moving average of $16.91. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.84 and a quick ratio of 0.83. The firm has a market cap of $20.48 billion, a P/E ratio of -266.86, a P/E/G ratio of 0.66 and a beta of 1.15.

KeyCorp (NYSE:KEY) last posted its quarterly earnings results 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. KeyCorp had a net margin of 1.49% and a return on equity of 9.65%. The business had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.81 billion. During the same period in the previous year, the business posted $0.25 EPS. The company’s quarterly revenue was up 20.6% on a year-over-year basis. As a group, research analysts anticipate that KeyCorp will post 1.5 earnings per share for the current fiscal year.

KeyCorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd were issued a $0.205 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $0.82 annualized dividend and a dividend yield of 4.4%. KeyCorp’s payout ratio is -1,171.43%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. UBS Group raised shares of KeyCorp from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $16.00 to $22.00 in a research note on Tuesday, July 8th. Citigroup reaffirmed a “neutral” rating and set a $20.00 price target (up previously from $19.00) on shares of KeyCorp in a research note on Thursday, July 24th. Morgan Stanley lifted their price target on shares of KeyCorp from $20.00 to $24.00 and gave the stock an “underperform” rating in a research note on Monday. DA Davidson lifted their price target on shares of KeyCorp from $19.00 to $21.00 and gave the stock a “buy” rating in a research note on Wednesday, July 23rd. Finally, Bank of America lifted their price target on shares of KeyCorp from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday, June 16th. Ten investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $20.08.

Insider Activity

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

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.