KeyCorp $KEY Shares Sold by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. lessened its stake in shares of KeyCorp (NYSE:KEY) by 50.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 150,632 shares of the financial services provider’s stock after selling 150,894 shares during the quarter. Jefferies Financial Group Inc.’s holdings in KeyCorp were worth $3,023,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Bank of Nova Scotia lifted its holdings in KeyCorp by 0.6% in the 1st quarter. Bank of Nova Scotia now owns 162,996,326 shares of the financial services provider’s stock valued at $3,268,076,000 after purchasing an additional 900,951 shares in the last quarter. BlackRock Inc. purchased a new stake in shares of KeyCorp during the second quarter worth about $2,039,113,000. State Street Corp raised its position in shares of KeyCorp by 9.0% in the second quarter. State Street Corp now owns 51,368,660 shares of the financial services provider’s stock valued at $1,184,048,000 after buying an additional 4,238,225 shares during the last quarter. Deutsche Bank AG acquired a new position in shares of KeyCorp in the second quarter valued at approximately $380,244,000. Finally, North Reef Capital Management LP acquired a new position in shares of KeyCorp in the first quarter valued at approximately $253,632,000. Institutional investors and hedge funds own 79.69% of the company’s stock.

KeyCorp Trading Down 0.5%

NYSE KEY opened at $21.33 on Friday. The company has a market cap of $22.53 billion, a P/E ratio of 11.72, a P/E/G ratio of 0.76 and a beta of 1.07. KeyCorp has a 12 month low of $16.91 and a 12 month high of $24.07. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.84 and a quick ratio of 0.83. The company has a 50-day moving average of $20.84 and a 200-day moving average of $21.55.

KeyCorp (NYSE:KEY) last released its earnings results on Tuesday, October 20th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.05. KeyCorp had a net margin of 18.56% and a return on equity of 12.06%. The business had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $2.05 billion. During the same period last year, the company earned $0.41 earnings per share. The company’s quarterly revenue was up 8.3% on a year-over-year basis. As a group, equities analysts predict that KeyCorp will post 1.88 earnings per share for the current year.

KeyCorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st will be paid a dividend of $0.2050 per share. The ex-dividend date of this dividend is Tuesday, December 1st. This represents a $0.82 dividend on an annualized basis and a yield of 3.8%. KeyCorp’s dividend payout ratio (DPR) is currently 45.05%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on KEY shares. Citigroup restated a “neutral” rating on shares of KeyCorp in a research report on Tuesday, September 22nd. Jefferies Financial Group cut their price target on KeyCorp from $24.00 to $22.00 and set a “hold” rating for the company in a report on Thursday, September 24th. Truist Financial reduced their price target on KeyCorp from $24.00 to $23.00 and set a “hold” rating on the stock in a research note on Wednesday, September 23rd. Weiss Ratings raised KeyCorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, November 4th. Finally, Stephens restated an “overweight” rating and set a $26.00 price objective on shares of KeyCorp in a report on Tuesday, September 15th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $46.25.

Insider Buying and Selling at KeyCorp

In other news, insider Andrew Paine, III sold 39,130 shares of the business’s stock in a transaction on Wednesday, October 28th. The shares were sold at an average price of $21.20, for a total transaction of $829,556.00. Following the completion of the sale, the insider directly owned 191,571 shares of the company’s stock, valued at $4,061,305.20. The trade was a 16.96% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.56% of the stock is currently owned by company insiders.

KeyCorp Profile

KeyCorp is a bank holding company headquartered in Cleveland, Ohio, and the parent of KeyBank National Association. KeyBank traces its history to 1825 and serves consumers, businesses, and institutions through banking and financial services. The company’s offerings include consumer and small-business banking, commercial lending, treasury and payment services, investment banking, and wealth management. Its commercial and investment banking services are also available to clients beyond its retail branch footprint.