Jefferies Financial Group Inc. Sells 165,294 Shares of KeyCorp $KEY

Jefferies Financial Group Inc. reduced its position in shares of KeyCorp (NYSE:KEY) by 54.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 136,026 shares of the financial services provider’s stock after selling 165,294 shares during the period. Jefferies Financial Group Inc.’s holdings in KeyCorp were worth $2,542,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Kingsview Wealth Management LLC raised its position in shares of KeyCorp by 2.7% in the third quarter. Kingsview Wealth Management LLC now owns 21,255 shares of the financial services provider’s stock worth $397,000 after buying an additional 568 shares in the last quarter. NorthCrest Asset Manangement LLC grew its position in KeyCorp by 4.1% during the third quarter. NorthCrest Asset Manangement LLC now owns 15,912 shares of the financial services provider’s stock worth $293,000 after buying an additional 627 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its stake in KeyCorp by 0.4% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 154,818 shares of the financial services provider’s stock worth $2,894,000 after acquiring an additional 660 shares during the last quarter. Sequoia Financial Advisors LLC increased its stake in KeyCorp by 0.9% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 81,236 shares of the financial services provider’s stock worth $1,518,000 after acquiring an additional 694 shares during the last quarter. Finally, Parallel Advisors LLC raised its holdings in shares of KeyCorp by 14.9% in the 3rd quarter. Parallel Advisors LLC now owns 6,379 shares of the financial services provider’s stock valued at $119,000 after acquiring an additional 827 shares in the last quarter. Hedge funds and other institutional investors own 79.69% of the company’s stock.

Wall Street Analysts Forecast Growth

KEY has been the subject of a number of research analyst reports. Jefferies Financial Group lifted their price target on KeyCorp from $19.00 to $22.00 and gave the company a “hold” rating in a research report on Wednesday, December 10th. Keefe, Bruyette & Woods upped their price objective on shares of KeyCorp from $21.00 to $24.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 17th. Wells Fargo & Company set a $18.00 target price on shares of KeyCorp and gave the company an “underperform” rating in a research note on Tuesday, January 6th. Stephens lifted their target price on shares of KeyCorp from $21.00 to $23.00 and gave the company an “overweight” rating in a research report on Thursday, December 18th. Finally, The Goldman Sachs Group boosted their price target on shares of KeyCorp from $25.00 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday, January 21st. Twelve investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $23.03.

Insiders Place Their Bets

In other KeyCorp news, insider Angela G. Mago sold 62,850 shares of the business’s stock in a transaction that occurred on Thursday, January 29th. The stock was sold at an average price of $21.55, for a total value of $1,354,417.50. Following the completion of the sale, the insider owned 261,415 shares in the company, valued at approximately $5,633,493.25. The trade was a 19.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Trina M. Evans sold 32,695 shares of the stock in a transaction that occurred on Thursday, January 22nd. The shares were sold at an average price of $21.74, for a total value of $710,789.30. Following the sale, the director directly owned 58,719 shares of the company’s stock, valued at approximately $1,276,551.06. This trade represents a 35.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 161,506 shares of company stock valued at $3,597,481 in the last ninety days. Company insiders own 0.52% of the company’s stock.

KeyCorp Stock Performance

NYSE KEY opened at $19.77 on Wednesday. The company has a 50-day simple moving average of $21.40 and a two-hundred day simple moving average of $19.67. KeyCorp has a 12-month low of $12.73 and a 12-month high of $23.34. The firm has a market cap of $21.54 billion, a price-to-earnings ratio of 13.00, a PEG ratio of 0.59 and a beta of 1.08. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.55.

KeyCorp (NYSE:KEY) last released its quarterly earnings data on Tuesday, January 20th. The financial services provider reported $0.41 EPS for the quarter, topping the consensus estimate of $0.39 by $0.02. KeyCorp had a return on equity of 10.28% and a net margin of 15.97%.The firm had revenue of $5.45 billion for the quarter, compared to the consensus estimate of $1.95 billion. During the same quarter in the previous year, the business earned $0.30 earnings per share. The company’s quarterly revenue was up 131.8% on a year-over-year basis. On average, equities analysts forecast that KeyCorp will post 1.5 EPS for the current year.

KeyCorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Tuesday, March 3rd will be paid a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend is Tuesday, March 3rd. KeyCorp’s payout ratio is 53.95%.

KeyCorp Profile

KeyCorp is a bank holding company headquartered in Cleveland, Ohio, that operates through its primary banking subsidiary, KeyBank. It provides a broad range of banking and financial services to individual consumers, small businesses, middle-market companies and large corporations. KeyBank’s offerings span traditional deposit and lending products as well as more specialized financial solutions designed for commercial and institutional clients.

The company’s product and service mix includes retail banking products such as checking and savings accounts, consumer and residential mortgage lending, and auto financing.