KeyCorp (NYSE:KEY) Position Trimmed by Prana Capital Management LP

Prana Capital Management LP reduced its holdings in KeyCorp (NYSE:KEY) by 57.8% during the third quarter, HoldingsChannel reports. The institutional investor owned 978,783 shares of the financial services provider’s stock after selling 1,340,967 shares during the period. Prana Capital Management LP’s holdings in KeyCorp were worth $16,395,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wolff Wiese Magana LLC lifted its holdings in KeyCorp by 285.5% in the third quarter. Wolff Wiese Magana LLC now owns 1,542 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 1,142 shares during the last quarter. American Capital Advisory LLC bought a new stake in shares of KeyCorp in the 3rd quarter worth approximately $28,000. Larson Financial Group LLC boosted its position in KeyCorp by 90.8% during the 3rd quarter. Larson Financial Group LLC now owns 1,929 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 918 shares during the period. Catalyst Capital Advisors LLC bought a new position in KeyCorp during the 3rd quarter worth $35,000. Finally, Capital Performance Advisors LLP acquired a new stake in KeyCorp in the third quarter worth $38,000. 79.69% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have issued reports on KEY. Morgan Stanley boosted their target price on shares of KeyCorp from $18.00 to $20.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 14th. The Goldman Sachs Group raised their target price on KeyCorp from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Piper Sandler boosted their price target on KeyCorp from $19.00 to $22.00 and gave the stock an “overweight” rating in a research report on Tuesday. Royal Bank of Canada raised their target price on shares of KeyCorp from $17.00 to $18.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. Finally, DA Davidson boosted their price objective on KeyCorp from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $18.56.

Insider Buying and Selling at KeyCorp

In other news, insider Angela G. Mago sold 15,011 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $19.59, for a total transaction of $294,065.49. Following the completion of the sale, the insider now owns 234,582 shares in the company, valued at approximately $4,595,461.38. This represents a 6.01 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Carlton L. Highsmith sold 9,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $17.14, for a total value of $154,260.00. Following the completion of the transaction, the director now directly owns 37,864 shares in the company, valued at $648,988.96. The trade was a 19.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.67% of the company’s stock.

KeyCorp Stock Down 0.6 %

KEY stock opened at $18.79 on Wednesday. The company has a 50 day moving average of $17.92 and a two-hundred day moving average of $16.17. The company has a market cap of $18.63 billion, a price-to-earnings ratio of 1,879.00, a PEG ratio of 1.05 and a beta of 1.25. KeyCorp has a 12-month low of $12.76 and a 12-month high of $20.04. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.09.

KeyCorp (NYSE:KEY) last announced its quarterly earnings data on Thursday, October 17th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.03. KeyCorp had a return on equity of 8.24% and a net margin of 0.76%. The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.59 billion. On average, equities analysts anticipate that KeyCorp will post 1.09 earnings per share for the current fiscal year.

KeyCorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Tuesday, December 3rd will be given a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 4.36%. The ex-dividend date of this dividend is Tuesday, December 3rd. KeyCorp’s payout ratio is presently 8,200.00%.

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.