B. Riley Wealth Advisors Inc. Sells 6,983 Shares of KeyCorp (NYSE:KEY)

B. Riley Wealth Advisors Inc. reduced its stake in KeyCorp (NYSE:KEY) by 14.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 42,024 shares of the financial services provider’s stock after selling 6,983 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in KeyCorp were worth $597,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC acquired a new stake in shares of KeyCorp in the 1st quarter valued at about $25,000. Crewe Advisors LLC acquired a new position in KeyCorp during the first quarter worth approximately $32,000. Quarry LP acquired a new position in KeyCorp during the fourth quarter worth approximately $38,000. Fidelis Capital Partners LLC acquired a new position in KeyCorp during the first quarter worth approximately $39,000. Finally, Centerpoint Advisors LLC boosted its holdings in shares of KeyCorp by 127.7% during the first quarter. Centerpoint Advisors LLC now owns 3,757 shares of the financial services provider’s stock worth $59,000 after acquiring an additional 2,107 shares during the period. 79.69% of the stock is currently owned by institutional investors.

Insider Transactions at KeyCorp

In other news, Director Carlton L. Highsmith sold 10,000 shares of KeyCorp stock in a transaction on Friday, August 16th. The shares were sold at an average price of $16.21, for a total transaction of $162,100.00. Following the completion of the sale, the director now directly owns 46,864 shares of the company’s stock, valued at approximately $759,665.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.61% of the stock is currently owned by insiders.

KeyCorp Trading Up 2.5 %

Shares of KEY stock opened at $16.78 on Friday. The company has a 50 day moving average of $16.18 and a 200-day moving average of $15.23. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.37. KeyCorp has a 12-month low of $9.50 and a 12-month high of $17.39. The firm has a market cap of $15.82 billion, a P/E ratio of 21.24, a PEG ratio of 0.90 and a beta of 1.25.

KeyCorp (NYSE:KEY) last released its quarterly earnings data on Thursday, July 18th. The financial services provider reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. KeyCorp had a net margin of 7.35% and a return on equity of 8.64%. The business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same period in the previous year, the business earned $0.27 EPS. KeyCorp’s revenue was down 4.3% compared to the same quarter last year. Sell-side analysts anticipate that KeyCorp will post 1.1 earnings per share for the current year.

KeyCorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Tuesday, August 27th were issued a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 4.89%. The ex-dividend date was Tuesday, August 27th. KeyCorp’s payout ratio is 103.80%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. DA Davidson boosted their price objective on KeyCorp from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Friday, July 19th. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $18.00 price target on shares of KeyCorp in a report on Tuesday, September 10th. Evercore ISI upped their price target on shares of KeyCorp from $18.50 to $20.00 and gave the stock an “outperform” rating in a report on Wednesday. UBS Group downgraded KeyCorp from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $16.00 to $15.00 in a report on Monday, July 8th. Finally, Morgan Stanley increased their price objective on KeyCorp from $18.00 to $20.00 and gave the company an “equal weight” rating in a report on Wednesday, August 14th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, KeyCorp has an average rating of “Moderate Buy” and a consensus target price of $16.91.

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.