Vanguard Personalized Indexing Management LLC Reduces Position in KeyCorp (NYSE:KEY)

Vanguard Personalized Indexing Management LLC lowered its stake in KeyCorp (NYSE:KEY) by 3.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 114,727 shares of the financial services provider’s stock after selling 3,496 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in KeyCorp were worth $1,630,000 at the end of the most recent quarter.

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

KeyCorp Trading Down 1.3 %

Shares of KEY stock opened at $17.12 on Friday. KeyCorp has a 1-year low of $9.50 and a 1-year high of $17.39. The company has a market cap of $16.14 billion, a price-to-earnings ratio of 21.67, a PEG ratio of 0.90 and a beta of 1.25. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.85 and a quick ratio of 0.85. The stock has a 50 day simple moving average of $16.05 and a 200-day simple moving average of $15.10.

KeyCorp (NYSE:KEY) last issued its quarterly earnings results on Thursday, July 18th. The financial services provider reported $0.25 EPS for the quarter, topping the consensus estimate of $0.24 by $0.01. The company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.52 billion. KeyCorp had a net margin of 7.35% and a return on equity of 8.64%. The firm’s revenue was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.27 EPS. On average, equities research analysts expect that KeyCorp will post 1.09 EPS for the current fiscal year.

KeyCorp Announces Dividend

The business 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. This represents a $0.82 dividend on an annualized basis and a yield of 4.79%. The ex-dividend date of this dividend was Tuesday, August 27th. KeyCorp’s dividend payout ratio is presently 103.80%.

Insider Buying and Selling

In other KeyCorp news, Director Carlton L. Highsmith sold 10,000 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $16.21, for a total transaction of $162,100.00. Following the completion of the transaction, the director now owns 46,864 shares of the company’s stock, valued at $759,665.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.61% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. DA Davidson lifted their price objective on shares of KeyCorp from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Friday, July 19th. Wedbush boosted their target price on shares of KeyCorp from $16.00 to $17.00 and gave the company a “neutral” rating in a research report on Tuesday, August 13th. Evercore ISI cut their price target on KeyCorp from $17.50 to $16.50 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $18.00 price objective on shares of KeyCorp in a report on Tuesday, September 10th. Finally, JPMorgan Chase & Co. dropped their target price on KeyCorp from $17.50 to $16.50 and set a “neutral” rating on the stock in a report on Thursday, June 27th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $16.65.

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.