KeyCorp (NYSE:KEY) Holdings Decreased by Wedbush Securities Inc.

Wedbush Securities Inc. reduced its stake in shares of KeyCorp (NYSE:KEY) by 5.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,500 shares of the financial services provider’s stock after selling 767 shares during the quarter. Wedbush Securities Inc.’s holdings in KeyCorp were worth $178,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank bought a new stake in KeyCorp in the fourth quarter worth about $128,203,000. Ceredex Value Advisors LLC raised its position in KeyCorp by 112.4% in the second quarter. Ceredex Value Advisors LLC now owns 6,647,393 shares of the financial services provider’s stock worth $94,459,000 after acquiring an additional 3,517,755 shares in the last quarter. Westfield Capital Management Co. LP bought a new stake in KeyCorp in the first quarter worth about $42,857,000. Balyasny Asset Management L.P. raised its position in KeyCorp by 26,297.7% in the fourth quarter. Balyasny Asset Management L.P. now owns 2,708,664 shares of the financial services provider’s stock worth $39,005,000 after acquiring an additional 2,698,403 shares in the last quarter. Finally, National Bank of Canada FI raised its position in KeyCorp by 1,051.3% in the first quarter. National Bank of Canada FI now owns 2,569,771 shares of the financial services provider’s stock worth $38,752,000 after acquiring an additional 2,346,565 shares in the last quarter. 79.69% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Citigroup boosted their price target on shares of KeyCorp from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Tuesday, August 13th. Morgan Stanley lifted their price target on KeyCorp from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 14th. Jefferies Financial Group lifted their price target on KeyCorp from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Monday, August 19th. UBS Group cut KeyCorp from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $16.00 to $15.00 in a research note on Monday, July 8th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $18.00 price target on shares of KeyCorp in a research note on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $16.65.

KeyCorp Trading Down 0.1 %

NYSE:KEY opened at $16.09 on Monday. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.85 and a quick ratio of 0.85. KeyCorp has a fifty-two week low of $9.50 and a fifty-two week high of $17.20. The stock’s 50-day moving average is $15.84 and its two-hundred day moving average is $15.03. The stock has a market cap of $15.18 billion, a PE ratio of 20.37, a price-to-earnings-growth ratio of 0.89 and a beta of 1.25.

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

KeyCorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Tuesday, August 27th were paid a $0.205 dividend. The ex-dividend date was Tuesday, August 27th. This represents a $0.82 annualized dividend and a dividend yield of 5.10%. KeyCorp’s payout ratio is 103.80%.

Insider Activity at KeyCorp

In related news, Director Carlton L. Highsmith sold 10,000 shares of the business’s stock in a transaction that occurred 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 sale was disclosed in a document filed with the SEC, which is available at this link. 0.61% of the stock is currently owned by company insiders.

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.