Centaurus Financial Inc. Takes $109,000 Position in KeyCorp (NYSE:KEY)

Centaurus Financial Inc. purchased a new stake in shares of KeyCorp (NYSE:KEY) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 6,490 shares of the financial services provider’s stock, valued at approximately $109,000.

Other institutional investors have also recently made changes to their positions in the company. Wolff Wiese Magana LLC boosted its holdings in shares of KeyCorp by 285.5% during the 3rd quarter. Wolff Wiese Magana LLC now owns 1,542 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 1,142 shares during the last quarter. Pathway Financial Advisers LLC purchased a new position in shares of KeyCorp in the first quarter worth approximately $25,000. American Capital Advisory LLC bought a new stake in KeyCorp during the third quarter valued at approximately $28,000. Larson Financial Group LLC grew its position in KeyCorp by 90.8% during the third quarter. Larson Financial Group LLC now owns 1,929 shares of the financial services provider’s stock valued at $32,000 after buying an additional 918 shares during the period. Finally, Catalyst Capital Advisors LLC bought a new stake in KeyCorp during the third quarter valued at approximately $35,000. Hedge funds and other institutional investors own 79.69% of the company’s stock.

KeyCorp Price Performance

KEY stock opened at $19.52 on Friday. KeyCorp has a one year low of $11.64 and a one year high of $20.04. The company’s fifty day moving average price is $17.79 and its 200-day moving average price is $16.08. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market capitalization of $19.35 billion, a PE ratio of 1,952.00, a price-to-earnings-growth ratio of 1.08 and a beta of 1.24.

KeyCorp (NYSE:KEY) last released its earnings results 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. 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 the consensus estimate of $1.59 billion. On average, equities analysts anticipate that KeyCorp will post 1.09 EPS for the current fiscal year.

KeyCorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors 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 4.20%. The ex-dividend date is Tuesday, December 3rd. KeyCorp’s payout ratio is 8,200.00%.

Insider Activity at KeyCorp

In related news, Director Carlton L. Highsmith sold 9,000 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $17.14, for a total transaction of $154,260.00. Following the sale, the director now owns 37,864 shares of the company’s stock, valued at $648,988.96. This represents a 19.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Angela G. Mago sold 15,011 shares of the company’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 sale, the insider now directly owns 234,582 shares in the company, valued at approximately $4,595,461.38. The trade was a 6.01 % decrease in their position. The disclosure for this sale can be found here. 0.61% of the stock is owned by insiders.

Wall Street Analyst Weigh In

KEY has been the subject of several recent research reports. Wedbush boosted their target price on shares of KeyCorp from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Tuesday, September 24th. Wells Fargo & Company boosted their target price on shares of KeyCorp from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Citigroup lowered shares of KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 target price for the company. in a research report on Thursday, November 7th. Evercore ISI boosted their target price on shares of KeyCorp from $18.50 to $20.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Finally, Robert W. Baird lowered shares of KeyCorp from an “outperform” rating to a “neutral” rating and cut their target price for the company from $18.00 to $17.00 in a research report on Monday, October 14th. Nine equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $18.26.

KeyCorp 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.