Covestor Ltd Sells 8,305 Shares of KeyCorp (NYSE:KEY)

Covestor Ltd trimmed its position in KeyCorp (NYSE:KEY) by 62.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,976 shares of the financial services provider’s stock after selling 8,305 shares during the quarter. Covestor Ltd’s holdings in KeyCorp were worth $79,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Valeo Financial Advisors LLC increased its stake in KeyCorp by 1.0% in the first quarter. Valeo Financial Advisors LLC now owns 69,213 shares of the financial services provider’s stock valued at $1,094,000 after acquiring an additional 704 shares during the last quarter. Caldwell Sutter Capital Inc. boosted its position in KeyCorp by 3.7% in the first quarter. Caldwell Sutter Capital Inc. now owns 20,927 shares of the financial services provider’s stock valued at $331,000 after buying an additional 742 shares in the last quarter. Czech National Bank boosted its position in KeyCorp by 0.5% in the first quarter. Czech National Bank now owns 164,768 shares of the financial services provider’s stock valued at $2,605,000 after buying an additional 788 shares in the last quarter. CWM LLC boosted its position in KeyCorp by 1.7% in the first quarter. CWM LLC now owns 50,656 shares of the financial services provider’s stock valued at $801,000 after buying an additional 837 shares in the last quarter. Finally, UMB Bank n.a. boosted its position in KeyCorp by 2.5% in the fourth quarter. UMB Bank n.a. now owns 34,090 shares of the financial services provider’s stock valued at $491,000 after buying an additional 841 shares in the last quarter. 79.69% of the stock is owned by institutional investors.

KeyCorp Trading Down 0.4 %

NYSE:KEY opened at $15.79 on Thursday. The company has a market cap of $14.89 billion, a P/E ratio of 19.99, a P/E/G ratio of 0.86 and a beta of 1.26. The stock’s fifty day moving average price is $14.43 and its two-hundred day moving average price is $14.55. KeyCorp has a 1 year low of $9.50 and a 1 year high of $16.47. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.85 and a quick ratio of 0.85.

KeyCorp (NYSE:KEY) last posted its earnings results on Thursday, July 18th. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.01. The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.52 billion. KeyCorp had a return on equity of 8.64% and a net margin of 7.35%. The business’s quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.27 earnings per share. As a group, analysts expect that KeyCorp will post 1.12 EPS for the current year.

KeyCorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Tuesday, August 27th will be given a dividend of $0.205 per share. The ex-dividend date is Tuesday, August 27th. This represents a $0.82 annualized dividend and a dividend yield of 5.19%. KeyCorp’s dividend payout ratio is currently 103.80%.

Wall Street Analyst Weigh In

KEY has been the topic of a number of research analyst reports. Argus raised their target price on shares of KeyCorp from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Friday, April 19th. Royal Bank of Canada lifted their target price on shares of KeyCorp from $16.00 to $17.00 and gave the stock an “outperform” rating in a research note on Friday, July 19th. UBS Group downgraded shares of KeyCorp from a “buy” rating to a “neutral” rating and decreased their price target for the company from $16.00 to $15.00 in a research note on Monday, July 8th. Jefferies Financial Group lifted their price target on shares of KeyCorp from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Finally, Wells Fargo & Company lifted their price target on shares of KeyCorp from $16.00 to $18.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $16.13.

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.