KeyCorp (NYSE:KEY) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP cut its position in shares of KeyCorp (NYSE:KEY) by 10.3% during the 3rd quarter, Holdings Channel reports. The firm owned 657,382 shares of the financial services provider’s stock after selling 75,657 shares during the period. Wellington Management Group LLP’s holdings in KeyCorp were worth $11,011,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. lifted its stake in KeyCorp by 14.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 657,913 shares of the financial services provider’s stock valued at $10,928,000 after purchasing an additional 85,052 shares during the last quarter. MBB Public Markets I LLC acquired a new stake in shares of KeyCorp during the 2nd quarter valued at $981,000. Dai ichi Life Insurance Company Ltd acquired a new stake in shares of KeyCorp during the 3rd quarter valued at $798,000. Prospector Partners LLC bought a new stake in shares of KeyCorp during the 3rd quarter worth $9,630,000. Finally, Natixis Advisors LLC grew its holdings in shares of KeyCorp by 17.9% in the 3rd quarter. Natixis Advisors LLC now owns 689,469 shares of the financial services provider’s stock worth $11,549,000 after acquiring an additional 104,689 shares during the last quarter. Institutional investors own 79.69% of the company’s stock.

KeyCorp Stock Performance

Shares of KEY stock opened at $18.13 on Monday. KeyCorp has a fifty-two week low of $12.94 and a fifty-two week high of $20.04. The stock’s 50-day moving average is $18.24 and its two-hundred day moving average is $16.39. 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 has a market cap of $17.97 billion, a P/E ratio of 1,813.00, a PEG ratio of 1.00 and a beta of 1.25.

KeyCorp (NYSE:KEY) last released its quarterly earnings data on Thursday, October 17th. The financial services provider reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.03. The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.59 billion. KeyCorp had a return on equity of 8.24% and a net margin of 0.76%. Analysts predict 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 was paid on Friday, December 13th. Investors of record on Tuesday, December 3rd were paid a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 4.52%. The ex-dividend date was Tuesday, December 3rd. KeyCorp’s payout ratio is presently 8,200.00%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on KEY shares. 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 report on Tuesday, November 26th. Piper Sandler lifted their target price on shares of KeyCorp from $19.00 to $22.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Keefe, Bruyette & Woods upped their price target on shares of KeyCorp from $19.00 to $22.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. DA Davidson lifted their price objective on shares of KeyCorp from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Finally, 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 note on Friday, November 15th. Nine analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, KeyCorp currently has an average rating of “Moderate Buy” and a consensus price target of $19.16.

Insider Buying and Selling

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

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.