KeyCorp (NYSE:KEY) Shares Sold by Marcum Wealth LLC

Marcum Wealth LLC reduced its holdings in KeyCorp (NYSE:KEY) by 39.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,654 shares of the financial services provider’s stock after selling 10,973 shares during the period. Marcum Wealth LLC’s holdings in KeyCorp were worth $285,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in KEY. Acadian Asset Management LLC acquired a new position in shares of KeyCorp in the 2nd quarter valued at about $283,000. Oppenheimer Asset Management Inc. lifted its holdings in KeyCorp by 40.3% in the second quarter. Oppenheimer Asset Management Inc. now owns 82,111 shares of the financial services provider’s stock valued at $1,167,000 after acquiring an additional 23,604 shares during the period. Envestnet Asset Management Inc. boosted its position in KeyCorp by 4.3% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,922,921 shares of the financial services provider’s stock worth $27,325,000 after purchasing an additional 78,856 shares in the last quarter. WINTON GROUP Ltd acquired a new stake in KeyCorp during the second quarter valued at $529,000. Finally, Dimensional Fund Advisors LP grew its position in shares of KeyCorp by 2.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 10,508,853 shares of the financial services provider’s stock valued at $149,299,000 after acquiring an additional 300,339 shares during the period. 79.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Wells Fargo & Company boosted their price objective on KeyCorp from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Royal Bank of Canada upped their price objective on shares of KeyCorp from $17.00 to $18.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. DA Davidson increased their price objective on shares of KeyCorp from $19.00 to $20.00 and gave the company a “buy” rating in a report on Monday, October 21st. Citigroup cut shares of KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 target price for the company. in a research note on Thursday, November 7th. Finally, Keefe, Bruyette & Woods upped their price target on shares of KeyCorp from $19.00 to $22.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Nine research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $19.44.

KeyCorp Trading Up 2.6 %

NYSE KEY opened at $17.47 on Wednesday. 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 stock has a market capitalization of $17.32 billion, a P/E ratio of 1,747.00, a PEG ratio of 1.00 and a beta of 1.27. The firm’s 50-day moving average is $18.26 and its two-hundred day moving average is $16.93. KeyCorp has a 12 month low of $12.94 and a 12 month high of $20.04.

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

KeyCorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Tuesday, December 3rd were given a dividend of $0.205 per share. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $0.82 annualized dividend and a dividend yield of 4.69%. KeyCorp’s dividend payout ratio is presently 8,200.00%.

Insider Transactions at KeyCorp

In related news, Director Carlton L. Highsmith sold 9,000 shares of KeyCorp 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Angela G. Mago sold 15,011 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were 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 $4,595,461.38. The trade was a 6.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.61% of the company’s stock.

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.