KeyCorp (NYSE:KEY) Director Carlton L. Highsmith Sells 5,000 Shares

KeyCorp (NYSE:KEY) Director Carlton L. Highsmith sold 5,000 shares of the stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $16.60, for a total value of $83,000.00. Following the completion of the transaction, the director now directly owns 37,177 shares of the company’s stock, valued at approximately $617,138.20. The trade was a 11.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

KeyCorp Price Performance

Shares of NYSE:KEY opened at $16.59 on Thursday. The stock has a market cap of $18.18 billion, a P/E ratio of -55.30, a P/E/G ratio of 0.65 and a beta of 1.08. KeyCorp has a 12 month low of $12.73 and a 12 month high of $20.04. The company has a 50 day moving average of $15.10 and a 200 day moving average of $16.91. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.77.

KeyCorp (NYSE:KEY) last announced its quarterly earnings results on Thursday, April 17th. The financial services provider reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.01. The business had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.77 billion. KeyCorp had a positive return on equity of 8.73% and a negative net margin of 2.52%. During the same period in the previous year, the firm earned $0.20 EPS. As a group, sell-side analysts forecast that KeyCorp will post 1.5 EPS for the current fiscal year.

KeyCorp declared that its board has authorized a stock buyback plan on Thursday, March 13th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to repurchase up to 6% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board believes its shares are undervalued.

KeyCorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Tuesday, May 27th will be issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.94%. KeyCorp’s payout ratio is currently -482.35%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Barclays cut their target price on shares of KeyCorp from $21.00 to $20.00 and set an “equal weight” rating for the company in a research report on Monday, April 21st. Morgan Stanley reissued an “equal weight” rating on shares of KeyCorp in a research note on Thursday, April 17th. Citigroup restated a “buy” rating on shares of KeyCorp in a research report on Thursday, April 17th. Keefe, Bruyette & Woods dropped their price objective on KeyCorp from $20.00 to $18.00 and set an “outperform” rating on the stock in a research note on Monday, April 21st. Finally, JPMorgan Chase & Co. cut their price objective on shares of KeyCorp from $18.50 to $16.50 and set a “neutral” rating on the stock in a research report on Thursday, April 3rd. Eight equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, KeyCorp currently has an average rating of “Moderate Buy” and an average price target of $18.97.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. TCTC Holdings LLC raised its stake in KeyCorp by 38.6% during the 4th quarter. TCTC Holdings LLC now owns 2,195 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 611 shares during the period. Signaturefd LLC increased its holdings in shares of KeyCorp by 16.0% in the 4th quarter. Signaturefd LLC now owns 4,453 shares of the financial services provider’s stock worth $76,000 after buying an additional 614 shares during the last quarter. Modera Wealth Management LLC lifted its stake in shares of KeyCorp by 3.9% in the 4th quarter. Modera Wealth Management LLC now owns 16,521 shares of the financial services provider’s stock valued at $283,000 after purchasing an additional 627 shares during the last quarter. Integrated Wealth Concepts LLC boosted its stake in KeyCorp by 2.6% during the fourth quarter. Integrated Wealth Concepts LLC now owns 24,679 shares of the financial services provider’s stock worth $423,000 after buying an additional 631 shares during the period. Finally, AlphaCore Capital LLC lifted its stake in KeyCorp by 5.2% in the first quarter. AlphaCore Capital LLC now owns 13,238 shares of the financial services provider’s stock worth $212,000 after purchasing an additional 651 shares during the last quarter. Institutional investors own 79.69% of the company’s stock.

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.