Prime Capital Investment Advisors LLC Sells 1,424 Shares of KeyCorp $KEY

Prime Capital Investment Advisors LLC reduced its holdings in shares of KeyCorp (NYSE:KEY) by 4.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,522 shares of the financial services provider’s stock after selling 1,424 shares during the period. Prime Capital Investment Advisors LLC’s holdings in KeyCorp were worth $479,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in KEY. Price T Rowe Associates Inc. MD grew its holdings in shares of KeyCorp by 40.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 50,954,013 shares of the financial services provider’s stock valued at $814,756,000 after purchasing an additional 14,651,281 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of KeyCorp by 7.2% during the first quarter. Vanguard Group Inc. now owns 125,345,385 shares of the financial services provider’s stock valued at $2,004,273,000 after buying an additional 8,412,625 shares during the last quarter. Wellington Management Group LLP grew its position in KeyCorp by 1,142.4% during the 1st quarter. Wellington Management Group LLP now owns 5,001,779 shares of the financial services provider’s stock worth $79,978,000 after acquiring an additional 4,599,197 shares during the last quarter. Alyeska Investment Group L.P. bought a new position in KeyCorp during the 1st quarter worth approximately $60,194,000. Finally, Invesco Ltd. grew its position in KeyCorp by 19.5% during the 1st quarter. Invesco Ltd. now owns 20,623,929 shares of the financial services provider’s stock worth $329,777,000 after acquiring an additional 3,363,421 shares during the last quarter. Institutional investors own 79.69% of the company’s stock.

KeyCorp Trading Down 5.4%

Shares of KEY opened at $17.19 on Friday. The firm’s 50-day moving average price is $18.58 and its 200-day moving average price is $17.02. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $18.85 billion, a price-to-earnings ratio of -245.57, a PEG ratio of 0.64 and a beta of 1.15. KeyCorp has a 1-year low of $12.73 and a 1-year high of $20.04.

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

KeyCorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were given a dividend of $0.205 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $0.82 annualized dividend and a dividend yield of 4.8%. KeyCorp’s payout ratio is currently -1,171.43%.

Insider Activity

In related news, Director Trina M. Evans sold 17,000 shares of the business’s stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $18.67, for a total transaction of $317,390.00. Following the sale, the director owned 82,719 shares of the company’s stock, valued at $1,544,363.73. The trade was a 17.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Andrew J. Paine III sold 44,953 shares of the business’s stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $19.29, for a total transaction of $867,143.37. Following the sale, the insider directly owned 245,044 shares in the company, valued at $4,726,898.76. The trade was a 15.50% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 174,102 shares of company stock worth $3,299,664. Corporate insiders own 0.52% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on KEY shares. Morgan Stanley raised their target price on shares of KeyCorp from $20.00 to $24.00 and gave the stock an “underperform” rating in a report on Monday, September 29th. Truist Financial raised their price target on shares of KeyCorp from $17.00 to $19.00 and gave the stock a “hold” rating in a report on Monday, July 28th. DA Davidson raised their price target on shares of KeyCorp from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Wednesday, July 23rd. Citigroup reissued a “neutral” rating and issued a $20.00 target price (up from $19.00) on shares of KeyCorp in a research note on Thursday, July 24th. Finally, Baird R W cut KeyCorp from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 2nd. Ten analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, KeyCorp presently has an average rating of “Hold” and an average target price of $20.53.

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.