Pacer Advisors Inc. Sells 30,412 Shares of KeyCorp (NYSE:KEY)

Pacer Advisors Inc. lessened its stake in KeyCorp (NYSE:KEY) by 31.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 66,623 shares of the financial services provider’s stock after selling 30,412 shares during the period. Pacer Advisors Inc.’s holdings in KeyCorp were worth $1,065,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Sequoia Financial Advisors LLC grew its position in shares of KeyCorp by 4.8% in the 1st quarter. Sequoia Financial Advisors LLC now owns 68,857 shares of the financial services provider’s stock worth $1,101,000 after buying an additional 3,145 shares during the last quarter. Teacher Retirement System of Texas acquired a new stake in KeyCorp in the first quarter valued at approximately $2,171,000. Cambridge Investment Research Advisors Inc. grew its holdings in KeyCorp by 31.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 111,757 shares of the financial services provider’s stock worth $1,787,000 after purchasing an additional 26,615 shares during the last quarter. Asset Management One Co. Ltd. increased its position in shares of KeyCorp by 4.2% during the first quarter. Asset Management One Co. Ltd. now owns 379,514 shares of the financial services provider’s stock worth $6,068,000 after purchasing an additional 15,367 shares in the last quarter. Finally, Blue Trust Inc. lifted its holdings in shares of KeyCorp by 41.9% during the 1st quarter. Blue Trust Inc. now owns 20,786 shares of the financial services provider’s stock valued at $332,000 after purchasing an additional 6,135 shares during the last quarter. 79.69% of the stock is currently owned by institutional investors.

KeyCorp Stock Performance

Shares of KEY stock opened at $18.15 on Thursday. KeyCorp has a 52-week low of $12.73 and a 52-week high of $20.04. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.71. The stock has a market cap of $19.89 billion, a PE ratio of -259.29, a price-to-earnings-growth ratio of 0.65 and a beta of 1.11. The business has a 50-day simple moving average of $17.13 and a 200-day simple moving average of $16.48.

KeyCorp (NYSE:KEY) last announced its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. KeyCorp had a return on equity of 9.65% and a net margin of 1.49%. The company had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.81 billion. During the same period in the previous year, the company posted $0.25 earnings per share. KeyCorp’s revenue for the quarter was up 20.6% on a year-over-year basis. On average, equities analysts expect that KeyCorp will post 1.5 EPS for the current year.

KeyCorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 4.52%. The ex-dividend date of this dividend is Tuesday, September 2nd. KeyCorp’s dividend payout ratio (DPR) is presently -1,171.43%.

Insider Activity

In other news, insider Amy G. Brady sold 19,000 shares of the firm’s stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $16.09, for a total transaction of $305,710.00. Following the sale, the insider directly owned 82,523 shares in the company, valued at $1,327,795.07. This trade represents a 18.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Christopher M. Gorman sold 112,149 shares of KeyCorp stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $18.86, for a total value of $2,115,130.14. Following the completion of the transaction, the chief executive officer owned 619,895 shares of the company’s stock, valued at approximately $11,691,219.70. This represents a 15.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 153,149 shares of company stock worth $2,821,230 in the last ninety days. Corporate insiders own 0.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on KEY shares. Wall Street Zen upgraded KeyCorp from a “sell” rating to a “hold” rating in a research note on Monday, April 21st. Robert W. Baird downgraded shares of KeyCorp from an “outperform” rating to a “neutral” rating and set a $18.00 price objective on the stock. in a report on Wednesday, July 2nd. Bank of America lifted their target price on shares of KeyCorp from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday, June 16th. UBS Group upgraded shares of KeyCorp from a “neutral” rating to a “buy” rating and upped their price target for the company from $16.00 to $22.00 in a research note on Tuesday, July 8th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of KeyCorp from $18.50 to $16.50 and set a “neutral” rating for the company in a research note on Thursday, April 3rd. Twelve analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $19.39.

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.