Ameritas Advisory Services LLC Invests $51,000 in KeyCorp $KEY

Ameritas Advisory Services LLC purchased a new stake in shares of KeyCorp (NYSE:KEY) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,926 shares of the financial services provider’s stock, valued at approximately $51,000.

Several other institutional investors have also recently bought and sold shares of KEY. Vanguard Group Inc. boosted its position in KeyCorp by 7.2% in the 1st 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. Price T Rowe Associates Inc. MD boosted its holdings in KeyCorp by 40.4% in the first 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 acquiring an additional 14,651,281 shares during the last quarter. Fuller & Thaler Asset Management Inc. boosted its holdings in KeyCorp by 12.2% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 30,511,720 shares of the financial services provider’s stock valued at $487,882,000 after acquiring an additional 3,327,972 shares during the last quarter. Invesco Ltd. increased its position in KeyCorp by 19.5% in the first quarter. Invesco Ltd. now owns 20,623,929 shares of the financial services provider’s stock worth $329,777,000 after purchasing an additional 3,363,421 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in KeyCorp by 2.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 11,201,253 shares of the financial services provider’s stock worth $179,084,000 after purchasing an additional 319,019 shares during the last quarter. Institutional investors own 79.69% of the company’s stock.

Insider Activity at KeyCorp

In related news, CEO Christopher M. Gorman sold 112,149 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $18.86, for a total transaction of $2,115,130.14. Following the completion of the sale, the chief executive officer directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Trina M. Evans sold 17,000 shares of the stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $18.67, for a total value of $317,390.00. Following the sale, the director directly owned 82,719 shares of the company’s stock, valued at approximately $1,544,363.73. The trade was a 17.05% 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 in the last ninety days. Company insiders own 0.52% of the company’s stock.

KeyCorp Stock Performance

Shares of NYSE:KEY opened at $17.19 on Monday. The company has a market capitalization of $18.85 billion, a price-to-earnings ratio of -245.57, a P/E/G ratio of 0.55 and a beta of 1.15. The firm’s 50 day simple moving average is $18.58 and its 200 day simple moving average is $17.03. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.84 and a quick ratio of 0.83. KeyCorp has a fifty-two week low of $12.73 and a fifty-two week high of $20.04.

KeyCorp (NYSE:KEY) last announced its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. The business had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.81 billion. KeyCorp had a net margin of 1.49% and a return on equity of 9.65%. KeyCorp’s revenue for the quarter was up 20.6% on a year-over-year basis. During the same period last year, the company posted $0.25 EPS. As a group, sell-side analysts forecast that KeyCorp will post 1.5 earnings per share 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 $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date was Tuesday, September 2nd. KeyCorp’s dividend payout ratio (DPR) is currently -1,171.43%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on KEY shares. Jefferies Financial Group cut their target price on shares of KeyCorp from $21.00 to $20.00 and set a “hold” rating on the stock in a research report on Wednesday, September 24th. Baird R W downgraded shares of KeyCorp from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 2nd. Weiss Ratings restated a “hold (c)” rating on shares of KeyCorp in a research report on Wednesday, October 8th. DA Davidson upped their target price on shares of KeyCorp from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Wednesday, July 23rd. Finally, Royal Bank Of Canada upped their target price on shares of KeyCorp from $19.00 to $20.00 and gave the company an “outperform” rating in a research report on Wednesday, October 1st. Ten equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $20.86.

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.