MAI Capital Management Has $771,000 Stake in KeyCorp (NYSE:KEY)

MAI Capital Management lowered its position in shares of KeyCorp (NYSE:KEY) by 10.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 46,045 shares of the financial services provider’s stock after selling 5,288 shares during the quarter. MAI Capital Management’s holdings in KeyCorp were worth $771,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of KEY. Bessemer Group Inc. increased its stake in shares of KeyCorp by 21.4% in the 1st quarter. Bessemer Group Inc. now owns 14,512 shares of the financial services provider’s stock valued at $230,000 after acquiring an additional 2,559 shares in the last quarter. Lake Street Advisors Group LLC acquired a new stake in KeyCorp in the first quarter worth $173,000. Pitcairn Co. increased its stake in KeyCorp by 10.3% in the first quarter. Pitcairn Co. now owns 12,906 shares of the financial services provider’s stock valued at $204,000 after purchasing an additional 1,208 shares in the last quarter. Crewe Advisors LLC acquired a new position in shares of KeyCorp during the first quarter valued at about $32,000. Finally, Axxcess Wealth Management LLC bought a new position in shares of KeyCorp during the 1st quarter worth about $488,000. 79.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other KeyCorp news, insider Angela G. Mago sold 15,011 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $19.59, for a total transaction of $294,065.49. Following the sale, the insider now owns 234,582 shares in the company, valued at $4,595,461.38. This represents a 6.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Carlton L. Highsmith sold 9,000 shares of KeyCorp stock in a transaction 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 of the company’s stock, valued at approximately $648,988.96. This trade represents a 19.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.61% of the company’s stock.

KeyCorp Trading Up 1.2 %

NYSE:KEY opened at $19.25 on Friday. KeyCorp has a 52 week low of $11.64 and a 52 week high of $20.00. The firm has a 50-day moving average price of $17.48 and a two-hundred day moving average price of $15.92. The firm has a market cap of $19.08 billion, a price-to-earnings ratio of 1,925.00, a price-to-earnings-growth ratio of 1.05 and a beta of 1.24. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.88 and a current ratio of 0.88.

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, topping 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 company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.59 billion. On average, equities analysts expect that KeyCorp will post 1.09 earnings per share for the current fiscal year.

KeyCorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Tuesday, December 3rd will be paid a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 4.26%. KeyCorp’s payout ratio is presently 8,200.00%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on KEY shares. Barclays boosted their target price on KeyCorp from $16.00 to $19.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. Royal Bank of Canada boosted their price objective on KeyCorp from $17.00 to $18.00 and gave the company an “outperform” rating in a report on Friday, October 18th. The Goldman Sachs Group set a $19.00 target price on KeyCorp in a research report on Thursday, October 17th. Citigroup downgraded shares of KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 price target for the company. in a research report on Thursday, November 7th. Finally, Baird R W downgraded shares of KeyCorp from a “strong-buy” rating to a “hold” rating in a report on Monday, October 14th. Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $18.03.

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.