Y Intercept Hong Kong Ltd Sells 222,130 Shares of KeyCorp $KEY

Y Intercept Hong Kong Ltd reduced its stake in KeyCorp (NYSE:KEY) by 35.9% during the third quarter, according to its most recent filing with the SEC. The fund owned 396,237 shares of the financial services provider’s stock after selling 222,130 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in KeyCorp were worth $7,406,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Activest Wealth Management raised its stake in shares of KeyCorp by 8,775.0% during the 2nd quarter. Activest Wealth Management now owns 1,420 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 1,404 shares during the period. Sachetta LLC grew its position in KeyCorp by 1,246.1% during the third quarter. Sachetta LLC now owns 1,723 shares of the financial services provider’s stock worth $32,000 after buying an additional 1,595 shares in the last quarter. Root Financial Partners LLC bought a new position in KeyCorp in the 3rd quarter worth about $37,000. Elevation Point Wealth Partners LLC bought a new stake in KeyCorp during the second quarter valued at approximately $36,000. Finally, Concord Wealth Partners boosted its stake in KeyCorp by 71.5% in the second quarter. Concord Wealth Partners now owns 2,183 shares of the financial services provider’s stock worth $38,000 after buying an additional 910 shares in the last quarter. 79.69% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Trina M. Evans sold 32,695 shares of the company’s stock in a transaction that occurred on Thursday, January 22nd. The stock was sold at an average price of $21.74, for a total value of $710,789.30. Following the sale, the director owned 58,719 shares in the company, valued at $1,276,551.06. This represents a 35.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.52% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on KEY. The Goldman Sachs Group increased their price objective on KeyCorp from $25.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday. Citigroup reiterated a “neutral” rating on shares of KeyCorp in a research note on Wednesday, December 31st. Robert W. Baird downgraded shares of KeyCorp from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 6th. Wells Fargo & Company set a $18.00 price target on shares of KeyCorp and gave the company an “underperform” rating in a report on Tuesday, January 6th. Finally, UBS Group increased their target price on KeyCorp from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Tuesday, October 7th. Eleven equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $22.63.

KeyCorp Trading Down 2.2%

KEY stock opened at $21.09 on Friday. The company has a market capitalization of $23.05 billion, a PE ratio of 13.88, a P/E/G ratio of 0.51 and a beta of 1.09. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.83 and a quick ratio of 0.83. KeyCorp has a 12 month low of $12.73 and a 12 month high of $22.07. The firm’s 50-day moving average is $20.11 and its 200 day moving average is $18.91.

KeyCorp (NYSE:KEY) last posted its earnings results on Tuesday, January 20th. The financial services provider reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. KeyCorp had a net margin of 15.97% and a return on equity of 10.28%. The business had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.95 billion. During the same quarter last year, the firm posted $0.30 EPS. The company’s revenue for the quarter was up 131.8% on a year-over-year basis. On average, research analysts anticipate that KeyCorp will post 1.5 EPS for the current year.

KeyCorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Tuesday, March 3rd will be issued a dividend of $0.205 per share. The ex-dividend date is Tuesday, March 3rd. This represents a $0.82 annualized dividend and a dividend yield of 3.9%. KeyCorp’s dividend 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.