Tidal Investments LLC Sells 69,450 Shares of KeyCorp (NYSE:KEY)

Tidal Investments LLC trimmed its holdings in shares of KeyCorp (NYSE:KEY) by 50.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 67,786 shares of the financial services provider’s stock after selling 69,450 shares during the period. Tidal Investments LLC’s holdings in KeyCorp were worth $1,135,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Wolff Wiese Magana LLC raised its position in KeyCorp by 285.5% in the third quarter. Wolff Wiese Magana LLC now owns 1,542 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 1,142 shares during the period. American Capital Advisory LLC bought a new stake in shares of KeyCorp in the 3rd quarter worth approximately $28,000. Larson Financial Group LLC lifted its stake in KeyCorp by 90.8% in the third quarter. Larson Financial Group LLC now owns 1,929 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 918 shares during the last quarter. Catalyst Capital Advisors LLC bought a new position in KeyCorp during the third quarter valued at $35,000. Finally, Capital Performance Advisors LLP purchased a new stake in KeyCorp in the third quarter worth $38,000. 79.69% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on KEY. Wells Fargo & Company upped their price target on KeyCorp from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. UBS Group increased their target price on shares of KeyCorp from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Robert W. Baird lowered shares of KeyCorp from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $18.00 to $17.00 in a research report on Monday, October 14th. Baird R W cut shares of KeyCorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 14th. Finally, Citigroup lowered shares of KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 price objective for the company. in a research note on Thursday, November 7th. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.16.

Insider Activity at KeyCorp

In related news, Director Carlton L. Highsmith sold 9,000 shares of KeyCorp stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $17.14, for a total value of $154,260.00. Following the transaction, the director now owns 37,864 shares in the company, valued at $648,988.96. This trade represents a 19.20 % decrease in their position. 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 the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $19.59, for a total transaction of $294,065.49. Following the sale, the insider now owns 234,582 shares of the company’s stock, valued at approximately $4,595,461.38. The trade was a 6.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.67% of the stock is currently owned by insiders.

KeyCorp Trading Down 0.9 %

Shares of KeyCorp stock opened at $16.81 on Friday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.88 and a quick ratio of 0.88. KeyCorp has a 1 year low of $12.94 and a 1 year high of $20.04. The firm has a market cap of $16.66 billion, a PE ratio of 1,681.00, a PEG ratio of 1.00 and a beta of 1.25. The company has a 50 day simple moving average of $18.29 and a two-hundred day simple moving average of $16.45.

KeyCorp (NYSE:KEY) last posted its quarterly earnings data on Thursday, October 17th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.03. The company had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.59 billion. KeyCorp had a net margin of 0.76% and a return on equity of 8.24%. Analysts expect that KeyCorp will post 1.09 earnings per share for the current fiscal year.

KeyCorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Tuesday, December 3rd were given a dividend of $0.205 per share. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $0.82 annualized dividend and a dividend yield of 4.88%. KeyCorp’s dividend payout ratio (DPR) is presently 8,200.00%.

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.