Wealth Enhancement Advisory Services LLC Sells 52,857 Shares of KeyCorp $KEY

Wealth Enhancement Advisory Services LLC decreased its position in shares of KeyCorp (NYSE:KEY) by 30.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 121,626 shares of the financial services provider’s stock after selling 52,857 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in KeyCorp were worth $2,239,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC acquired a new stake in shares of KeyCorp in the 4th quarter valued at $476,000. Woodline Partners LP boosted its stake in KeyCorp by 41.4% in the first quarter. Woodline Partners LP now owns 84,156 shares of the financial services provider’s stock valued at $1,346,000 after buying an additional 24,627 shares in the last quarter. Park Avenue Securities LLC bought a new position in KeyCorp in the second quarter valued at about $254,000. GC Wealth Management RIA LLC bought a new position in KeyCorp in the second quarter valued at about $180,000. Finally, Janney Montgomery Scott LLC raised its stake in KeyCorp by 17.8% during the second quarter. Janney Montgomery Scott LLC now owns 195,914 shares of the financial services provider’s stock worth $3,413,000 after acquiring an additional 29,652 shares in the last quarter. 79.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on KEY shares. Keefe, Bruyette & Woods lifted their price target on shares of KeyCorp from $21.00 to $24.00 and gave the company an “outperform” rating in a report on Wednesday, December 17th. TD Cowen restated a “buy” rating on shares of KeyCorp in a research report on Wednesday, January 7th. Barclays upped their price target on shares of KeyCorp from $20.00 to $24.00 and gave the stock an “equal weight” rating in a report on Monday, January 5th. Argus raised their price objective on KeyCorp from $21.00 to $25.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. Finally, JPMorgan Chase & Co. boosted their price objective on KeyCorp from $19.50 to $22.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 6th. Eleven analysts have rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $22.68.

KeyCorp Stock Performance

NYSE KEY opened at $21.66 on Friday. The company has a market capitalization of $23.67 billion, a price-to-earnings ratio of 14.25, a PEG ratio of 0.52 and a beta of 1.09. 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 has a twelve month low of $12.73 and a twelve month high of $22.07. The stock has a fifty day simple moving average of $20.44 and a 200 day simple moving average of $18.99.

KeyCorp (NYSE:KEY) last released its quarterly 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. The firm had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.95 billion. KeyCorp had a return on equity of 10.28% and a net margin of 15.97%.The business’s revenue was up 131.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.30 EPS. Sell-side analysts expect that KeyCorp will post 1.5 EPS for the current year.

KeyCorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Tuesday, March 3rd will be given a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Tuesday, March 3rd. KeyCorp’s dividend payout ratio is currently 53.95%.

Insiders Place Their Bets

In other KeyCorp news, Director Trina M. Evans sold 32,695 shares of the firm’s stock in a transaction that occurred on Thursday, January 22nd. The shares were sold at an average price of $21.74, for a total transaction of $710,789.30. Following the completion of the transaction, the director owned 58,719 shares in the company, valued at approximately $1,276,551.06. This trade represents a 35.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.52% of the company’s stock.

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.