Silverlake Wealth Management LLC Lowers Stock Position in KeyCorp (NYSE:KEY)

Silverlake Wealth Management LLC cut its position in shares of KeyCorp (NYSE:KEYFree Report) by 26.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,774 shares of the financial services provider’s stock after selling 4,158 shares during the quarter. Silverlake Wealth Management LLC’s holdings in KeyCorp were worth $170,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in KEY. Bruce G. Allen Investments LLC bought a new position in shares of KeyCorp in the fourth quarter valued at approximately $26,000. Sound Income Strategies LLC grew its holdings in shares of KeyCorp by 3,600.0% in the fourth quarter. Sound Income Strategies LLC now owns 1,887 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 1,836 shares in the last quarter. Cary Street Partners Investment Advisory LLC bought a new position in shares of KeyCorp in the third quarter valued at approximately $28,000. Baldwin Brothers LLC MA bought a new position in shares of KeyCorp in the fourth quarter valued at approximately $35,000. Finally, Point72 Asset Management L.P. bought a new position in shares of KeyCorp in the second quarter valued at approximately $37,000. 79.69% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on KEY. DA Davidson reduced their target price on KeyCorp from $17.00 to $16.00 and set a “buy” rating for the company in a report on Friday, January 19th. Wedbush reduced their price objective on KeyCorp from $16.00 to $14.00 and set a “neutral” rating for the company in a report on Friday, January 19th. Stephens upgraded KeyCorp from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, December 20th. Keefe, Bruyette & Woods dropped their price target on KeyCorp from $17.00 to $16.00 and set an “outperform” rating on the stock in a research report on Friday, January 19th. Finally, Raymond James began coverage on KeyCorp in a research report on Monday, January 8th. They set a “market perform” rating on the stock. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, KeyCorp currently has an average rating of “Moderate Buy” and a consensus target price of $15.00.

Check Out Our Latest Stock Report on KEY

Insider Activity

In related news, CAO Douglas M. Schosser sold 3,326 shares of the stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $14.00, for a total transaction of $46,564.00. Following the completion of the sale, the chief accounting officer now directly owns 19,795 shares in the company, valued at approximately $277,130. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CAO Douglas M. Schosser sold 3,326 shares of the stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $14.00, for a total transaction of $46,564.00. Following the completion of the sale, the chief accounting officer now directly owns 19,795 shares in the company, valued at approximately $277,130. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Angela G. Mago sold 3,405 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $14.24, for a total value of $48,487.20. Following the sale, the insider now owns 214,630 shares of the company’s stock, valued at $3,056,331.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,442 shares of company stock worth $303,914. 0.67% of the stock is currently owned by insiders.

KeyCorp Price Performance

Shares of KeyCorp stock traded down $0.10 during trading on Tuesday, hitting $15.39. 2,806,232 shares of the stock traded hands, compared to its average volume of 16,617,342. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.61. The stock has a market cap of $14.27 billion, a price-to-earnings ratio of 17.40 and a beta of 1.29. The firm’s fifty day moving average is $14.52 and its 200-day moving average is $12.99. KeyCorp has a 52 week low of $8.53 and a 52 week high of $15.86.

KeyCorp (NYSE:KEYGet Free Report) last announced its quarterly earnings data on Thursday, January 18th. The financial services provider reported $0.25 EPS for the quarter, beating the consensus estimate of $0.23 by $0.02. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.53 billion. KeyCorp had a return on equity of 10.63% and a net margin of 8.61%. During the same period in the prior year, the company earned $0.38 EPS. Research analysts expect that KeyCorp will post 1.18 EPS for the current fiscal year.

KeyCorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, February 27th were given a dividend of $0.205 per share. The ex-dividend date was Monday, February 26th. This represents a $0.82 annualized dividend and a dividend yield of 5.33%. KeyCorp’s dividend payout ratio (DPR) is presently 92.13%.

About KeyCorp

(Free Report)

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.

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Institutional Ownership by Quarter for KeyCorp (NYSE:KEY)

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