Hantz Financial Services Inc. Sells 25,819 Shares of KeyCorp $KEY

Hantz Financial Services Inc. trimmed its holdings in shares of KeyCorp (NYSE:KEY) by 6.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 403,482 shares of the financial services provider’s stock after selling 25,819 shares during the period. Hantz Financial Services Inc.’s holdings in KeyCorp were worth $8,328,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. United Community Bank bought a new position in shares of KeyCorp during the 3rd quarter worth about $27,000. Maseco LLP bought a new position in shares of KeyCorp during the 4th quarter worth about $27,000. GoalVest Advisory LLC bought a new position in KeyCorp during the 4th quarter valued at about $30,000. Kelleher Financial Advisors bought a new position in KeyCorp during the 3rd quarter valued at about $32,000. Finally, True Wealth Design LLC lifted its holdings in KeyCorp by 1,263.5% during the 4th quarter. True Wealth Design LLC now owns 1,718 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 1,592 shares during the last quarter. 79.69% of the stock is owned by institutional investors.

Insider Activity at KeyCorp

In other news, insider Angela G. Mago sold 22,826 shares of KeyCorp stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $21.66, for a total transaction of $494,411.16. Following the completion of the sale, the insider owned 281,564 shares in the company, valued at $6,098,676.24. The trade was a 7.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.56% of the stock is currently owned by corporate insiders.

KeyCorp Trading Up 0.1%

KEY opened at $21.59 on Tuesday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $23.40 billion, a PE ratio of 13.24, a PEG ratio of 0.69 and a beta of 1.06. KeyCorp has a 1-year low of $15.28 and a 1-year high of $23.34. The firm has a 50-day moving average price of $20.93 and a two-hundred day moving average price of $20.58.

KeyCorp (NYSE:KEY) last posted its quarterly earnings data on Thursday, April 16th. The financial services provider reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.03. The firm had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.93 billion. KeyCorp had a net margin of 17.03% and a return on equity of 10.80%. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.38 EPS. As a group, equities analysts anticipate that KeyCorp will post 1.82 earnings per share for the current fiscal year.

KeyCorp announced that its Board of Directors has approved a stock repurchase program on Wednesday, May 13th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the financial services provider to buy up to 13% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

KeyCorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Tuesday, June 2nd will be given a dividend of $0.205 per share. The ex-dividend date is Tuesday, June 2nd. This represents a $0.82 annualized dividend and a dividend yield of 3.8%. KeyCorp’s payout ratio is currently 50.31%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on KEY shares. Weiss Ratings raised shares of KeyCorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 11th. JPMorgan Chase & Co. cut their price target on shares of KeyCorp from $24.50 to $22.50 and set a “neutral” rating for the company in a report on Tuesday, April 7th. Jefferies Financial Group lifted their price target on shares of KeyCorp from $21.00 to $23.00 and gave the company a “hold” rating in a report on Friday, April 17th. Morgan Stanley cut their price target on shares of KeyCorp from $26.00 to $24.00 and set an “equal weight” rating for the company in a report on Tuesday, March 31st. Finally, Wall Street Zen downgraded shares of KeyCorp from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Thirteen analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $42.78.

KeyCorp Company Profile

KeyCorp is a bank holding company headquartered in Cleveland, Ohio, that operates through its primary banking subsidiary, KeyBank. It provides a broad range of banking and financial services to individual consumers, small businesses, middle-market companies and large corporations. KeyBank’s offerings span traditional deposit and lending products as well as more specialized financial solutions designed for commercial and institutional clients.

The company’s product and service mix includes retail banking products such as checking and savings accounts, consumer and residential mortgage lending, and auto financing.