AlphaStar Capital Management LLC Sells 1,727 Shares of KeyCorp (NYSE:KEY)

AlphaStar Capital Management LLC decreased its position in shares of KeyCorp (NYSE:KEY) by 7.5% during the second quarter, Holdings Channel.com reports. The fund owned 21,289 shares of the financial services provider’s stock after selling 1,727 shares during the quarter. AlphaStar Capital Management LLC’s holdings in KeyCorp were worth $303,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its holdings in KeyCorp by 1.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 23,416,018 shares of the financial services provider’s stock worth $337,191,000 after buying an additional 289,258 shares during the period. Aigen Investment Management LP bought a new position in KeyCorp in the 4th quarter worth approximately $1,556,000. Freestone Capital Holdings LLC bought a new stake in shares of KeyCorp during the first quarter valued at approximately $561,000. Assenagon Asset Management S.A. boosted its position in shares of KeyCorp by 87.5% during the second quarter. Assenagon Asset Management S.A. now owns 1,308,797 shares of the financial services provider’s stock worth $18,598,000 after acquiring an additional 610,688 shares during the last quarter. Finally, Commerce Bank boosted its holdings in shares of KeyCorp by 399.7% during the 1st quarter. Commerce Bank now owns 456,136 shares of the financial services provider’s stock valued at $7,212,000 after purchasing an additional 364,850 shares during the last quarter. 79.69% of the stock is currently owned by institutional investors.

KeyCorp Trading Down 1.1 %

Shares of KeyCorp stock traded down $0.18 on Tuesday, hitting $16.77. 2,582,772 shares of the company traded hands, compared to its average volume of 15,048,221. KeyCorp has a 52 week low of $9.50 and a 52 week high of $17.20. The company has a market cap of $15.81 billion, a PE ratio of 21.29, a PEG ratio of 0.91 and a beta of 1.26. The stock’s 50 day moving average price is $15.13 and its 200-day moving average price is $14.79. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.37.

KeyCorp (NYSE:KEY) last issued its earnings results on Thursday, July 18th. The financial services provider reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. KeyCorp had a return on equity of 8.64% and a net margin of 7.35%. The business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same period in the previous year, the company posted $0.27 EPS. KeyCorp’s revenue was down 4.3% on a year-over-year basis. Equities research analysts predict that KeyCorp will post 1.09 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 of this dividend is Tuesday, August 27th. This represents a $0.82 annualized dividend and a yield of 4.89%. KeyCorp’s dividend payout ratio (DPR) is presently 103.80%.

Analysts Set New Price Targets

A number of research firms have recently commented on KEY. Wedbush increased their target price on KeyCorp from $16.00 to $17.00 and gave the company a “neutral” rating in a research report on Tuesday, August 13th. DA Davidson boosted their target price on shares of KeyCorp from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Friday, July 19th. Morgan Stanley increased their price target on shares of KeyCorp from $18.00 to $20.00 and gave the company an “equal weight” rating in a report on Wednesday, August 14th. Citigroup boosted their price objective on KeyCorp from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th. Finally, Evercore ISI lowered their price objective on KeyCorp from $17.50 to $16.50 and set an “outperform” rating for the company in a research note on Tuesday, June 25th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $16.65.

Insider Transactions at KeyCorp

In related news, Director Carlton L. Highsmith sold 10,000 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $16.21, for a total transaction of $162,100.00. Following the sale, the director now owns 46,864 shares of the company’s stock, valued at $759,665.44. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.61% of the company’s stock.

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.