Stifel Financial Corp Sells 72,015 Shares of KeyCorp (NYSE:KEY)

Stifel Financial Corp lowered its holdings in KeyCorp (NYSE:KEY) by 7.0% in the 3rd quarter, HoldingsChannel reports. The firm owned 960,228 shares of the financial services provider’s stock after selling 72,015 shares during the quarter. Stifel Financial Corp’s holdings in KeyCorp were worth $16,084,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Assenagon Asset Management S.A. raised its stake in KeyCorp by 87.5% in the second quarter. Assenagon Asset Management S.A. now owns 1,308,797 shares of the financial services provider’s stock worth $18,598,000 after buying an additional 610,688 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of KeyCorp by 14.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 657,913 shares of the financial services provider’s stock worth $10,928,000 after acquiring an additional 85,052 shares in the last quarter. MBB Public Markets I LLC purchased a new stake in shares of KeyCorp during the 2nd quarter worth $981,000. Dai ichi Life Insurance Company Ltd bought a new stake in KeyCorp during the third quarter valued at about $798,000. Finally, Prospector Partners LLC purchased a new position in KeyCorp in the third quarter valued at about $9,630,000. Hedge funds and other institutional investors own 79.69% of the company’s stock.

KeyCorp Price Performance

Shares of NYSE KEY opened at $18.42 on Wednesday. The stock has a market capitalization of $18.25 billion, a price-to-earnings ratio of 1,841.50, a PEG ratio of 1.04 and a beta of 1.25. KeyCorp has a 12 month low of $12.94 and a 12 month high of $20.04. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.88 and a quick ratio of 0.88. The firm’s 50 day simple moving average is $18.10 and its 200-day simple moving average is $16.28.

KeyCorp (NYSE:KEY) last issued its quarterly earnings results on Thursday, October 17th. The financial services provider reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.03. KeyCorp had a net margin of 0.76% and a return on equity of 8.24%. The firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.59 billion. Analysts expect that KeyCorp will post 1.09 EPS for the current year.

KeyCorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Tuesday, December 3rd will be paid a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 4.45%. The ex-dividend date of this dividend is Tuesday, December 3rd. KeyCorp’s dividend payout ratio (DPR) is currently 8,200.00%.

Analyst Ratings Changes

A number of analysts have recently weighed in on KEY shares. UBS Group raised their price target on shares of KeyCorp from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Morgan Stanley lifted their price target on shares of KeyCorp from $18.00 to $20.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 14th. Citigroup downgraded KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 price target on the stock. in a research report on Thursday, November 7th. Wedbush raised their price objective on KeyCorp from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 24th. Finally, The Goldman Sachs Group increased their price target on KeyCorp from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Nine equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.16.

Insider Buying and Selling at KeyCorp

In related news, Director Carlton L. Highsmith sold 9,000 shares of the company’s stock in a transaction dated 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 sale, the director now owns 37,864 shares of the company’s stock, valued at approximately $648,988.96. This represents a 19.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Angela G. Mago sold 15,011 shares of KeyCorp 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 transaction, the insider now directly owns 234,582 shares in the company, valued at $4,595,461.38. This trade represents a 6.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.67% of the stock is owned by company insiders.

About KeyCorp

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.