Sowell Financial Services LLC Lowers Stock Position in KeyCorp $KEY

Sowell Financial Services LLC cut its holdings in shares of KeyCorp (NYSE:KEY) by 2.8% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 19,482 shares of the financial services provider’s stock after selling 557 shares during the period. Sowell Financial Services LLC’s holdings in KeyCorp were worth $339,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of KEY. AlphaCore Capital LLC increased its holdings in shares of KeyCorp by 5.2% in the 1st quarter. AlphaCore Capital LLC now owns 13,238 shares of the financial services provider’s stock valued at $212,000 after acquiring an additional 651 shares during the period. SBI Securities Co. Ltd. grew its stake in KeyCorp by 34.0% in the first quarter. SBI Securities Co. Ltd. now owns 2,644 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 671 shares during the last quarter. Voya Investment Management LLC raised its holdings in KeyCorp by 0.3% in the first quarter. Voya Investment Management LLC now owns 276,264 shares of the financial services provider’s stock worth $4,417,000 after purchasing an additional 713 shares in the last quarter. Centaurus Financial Inc. raised its holdings in KeyCorp by 11.2% in the fourth quarter. Centaurus Financial Inc. now owns 7,218 shares of the financial services provider’s stock worth $124,000 after purchasing an additional 728 shares in the last quarter. Finally, Capital Advisors Ltd. LLC lifted its position in shares of KeyCorp by 44.1% during the first quarter. Capital Advisors Ltd. LLC now owns 2,504 shares of the financial services provider’s stock valued at $40,000 after buying an additional 766 shares during the last quarter. Institutional investors own 79.69% of the company’s stock.

Analysts Set New Price Targets

KEY has been the topic of a number of analyst reports. Wells Fargo & Company lifted their price objective on shares of KeyCorp from $18.00 to $20.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 8th. Jefferies Financial Group cut their price target on shares of KeyCorp from $21.00 to $20.00 and set a “hold” rating on the stock in a report on Wednesday. Bank of America increased their price objective on KeyCorp from $18.00 to $20.00 and gave the company a “buy” rating in a report on Monday, June 16th. Truist Financial boosted their target price on KeyCorp from $17.00 to $19.00 and gave the stock a “hold” rating in a research note on Monday, July 28th. Finally, Baird R W lowered KeyCorp from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 2nd. Ten research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $19.58.

Insider Transactions at KeyCorp

In other news, insider Andrew J. Paine III sold 44,953 shares of the stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $19.29, for a total value of $867,143.37. Following the sale, the insider owned 245,044 shares in the company, valued at $4,726,898.76. This represents a 15.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Christopher M. Gorman sold 112,149 shares of the business’s stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $18.86, for a total transaction of $2,115,130.14. Following the transaction, the chief executive officer owned 619,895 shares of the company’s stock, valued at $11,691,219.70. This represents a 15.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 174,102 shares of company stock worth $3,299,664 over the last 90 days. 0.52% of the stock is currently owned by company insiders.

KeyCorp Stock Performance

Shares of KEY opened at $18.80 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.83 and a current ratio of 0.84. The stock has a 50-day moving average of $18.57 and a two-hundred day moving average of $16.83. The stock has a market cap of $20.61 billion, a P/E ratio of -268.50, a P/E/G ratio of 0.66 and a beta of 1.15. KeyCorp has a one year low of $12.73 and a one year high of $20.04.

KeyCorp (NYSE:KEY) last announced its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.01. The firm had revenue of $1.84 billion during 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 company’s revenue for the quarter was up 20.6% compared to the same quarter last year. During the same period last year, the business posted $0.25 earnings per share. As a group, research analysts predict that KeyCorp will post 1.5 EPS for the current year.

KeyCorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were paid a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 4.4%. The ex-dividend date was Tuesday, September 2nd. KeyCorp’s payout ratio is presently -1,171.43%.

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.