PFG Investments LLC Reduces Holdings in KeyCorp (NYSE:KEY)

PFG Investments LLC lessened its position in shares of KeyCorp (NYSE:KEY) by 54.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,710 shares of the financial services provider’s stock after selling 12,979 shares during the period. PFG Investments LLC’s holdings in KeyCorp were worth $152,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in KEY. Pathway Financial Advisers LLC purchased a new position in shares of KeyCorp during the 1st quarter valued at $25,000. Crewe Advisors LLC bought a new stake in shares of KeyCorp during the 1st quarter valued at $32,000. Quarry LP bought a new stake in shares of KeyCorp during the 4th quarter valued at $38,000. Fidelis Capital Partners LLC bought a new stake in shares of KeyCorp during the 1st quarter valued at $39,000. Finally, Centerpoint Advisors LLC raised its stake in shares of KeyCorp by 127.7% during the 1st quarter. Centerpoint Advisors LLC now owns 3,757 shares of the financial services provider’s stock valued at $59,000 after purchasing an additional 2,107 shares during the period. Hedge funds and other institutional investors own 79.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on KEY. Wedbush boosted their price objective on KeyCorp from $16.00 to $17.00 and gave the company a “neutral” rating in a research note on Tuesday, August 13th. JPMorgan Chase & Co. decreased their target price on KeyCorp from $17.50 to $16.50 and set a “neutral” rating on the stock in a research note on Thursday, June 27th. Morgan Stanley upped their target price on KeyCorp from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 14th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $18.00 target price on shares of KeyCorp in a research note on Tuesday, September 10th. Finally, UBS Group lowered KeyCorp from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $16.00 to $15.00 in a research report on Monday, July 8th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, KeyCorp presently has an average rating of “Moderate Buy” and an average target price of $16.65.

Insider Activity at KeyCorp

In other KeyCorp news, Director Carlton L. Highsmith sold 10,000 shares of KeyCorp stock in a transaction on Friday, August 16th. The stock was sold at an average price of $16.21, for a total value of $162,100.00. Following the completion of the sale, the director now owns 46,864 shares of the company’s stock, valued at approximately $759,665.44. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.61% of the stock is owned by corporate insiders.

KeyCorp Trading Down 0.1 %

KEY opened at $16.09 on Friday. The stock has a market cap of $15.18 billion, a PE ratio of 20.37, a PEG ratio of 0.89 and a beta of 1.25. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.37. The business has a 50 day moving average of $15.84 and a 200-day moving average of $15.02. KeyCorp has a 52 week low of $9.50 and a 52 week high of $17.20.

KeyCorp (NYSE:KEY) last released its earnings results on Thursday, July 18th. The financial services provider reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. KeyCorp had a return on equity of 8.64% and a net margin of 7.35%. The company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter last year, the business posted $0.27 EPS. The firm’s revenue for the quarter was down 4.3% compared to the same quarter last year. Equities research analysts predict that KeyCorp will post 1.09 earnings per share for the current fiscal year.

KeyCorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Tuesday, August 27th were given a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 5.10%. The ex-dividend date of this dividend was Tuesday, August 27th. KeyCorp’s dividend payout ratio (DPR) is presently 103.80%.

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.