Stifel Financial Corp Sells 72,015 Shares of KeyCorp (NYSE:KEY)

Stifel Financial Corp lowered its position in shares of KeyCorp (NYSE:KEY - Free Report) by 7.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 960,228 shares of the financial services provider's stock after selling 72,015 shares during the period. Stifel Financial Corp owned approximately 0.10% of KeyCorp worth $16,084,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the company. Czech National Bank grew its stake in shares of KeyCorp by 9.0% in the second quarter. Czech National Bank now owns 179,670 shares of the financial services provider's stock worth $2,553,000 after acquiring an additional 14,902 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of KeyCorp by 4.2% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 81,879 shares of the financial services provider's stock valued at $1,164,000 after buying an additional 3,306 shares during the period. V Square Quantitative Management LLC boosted its stake in shares of KeyCorp by 64.7% in the 2nd quarter. V Square Quantitative Management LLC now owns 29,279 shares of the financial services provider's stock worth $416,000 after buying an additional 11,505 shares during the last quarter. PGGM Investments boosted its stake in shares of KeyCorp by 35.3% in the 2nd quarter. PGGM Investments now owns 15,303 shares of the financial services provider's stock worth $217,000 after buying an additional 3,995 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. grew its holdings in shares of KeyCorp by 3.4% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 58,601 shares of the financial services provider's stock worth $833,000 after acquiring an additional 1,927 shares during the period. 79.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at KeyCorp

In other news, Director Carlton L. Highsmith sold 9,000 shares of KeyCorp stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $17.14, for a total value of $154,260.00. Following the completion of the transaction, the director now owns 37,864 shares in the company, valued at approximately $648,988.96. The trade was a 19.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Angela G. Mago sold 15,011 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $19.59, for a total value of $294,065.49. Following the sale, the insider now owns 234,582 shares in the company, valued at $4,595,461.38. The trade was a 6.01 % decrease in their position. The disclosure for this sale can be found here. 0.67% of the stock is owned by insiders.

KeyCorp Price Performance

Shares of NYSE:KEY traded down $0.07 during midday trading on Wednesday, reaching $18.34. 6,019,280 shares of the company were exchanged, compared to its average volume of 13,502,227. The stock has a market cap of $18.18 billion, a PE ratio of 1,826.00, a price-to-earnings-growth ratio of 1.04 and a beta of 1.25. The business's fifty day moving average is $18.10 and its two-hundred day moving average is $16.28. KeyCorp has a one year low of $12.94 and a one year high of $20.04. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.09.

KeyCorp (NYSE:KEY - Get Free Report) last issued its quarterly earnings data on Thursday, October 17th. The financial services provider reported $0.30 earnings per share for the quarter, beating analysts' consensus estimates of $0.27 by $0.03. The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.59 billion. KeyCorp had a return on equity of 8.24% and a net margin of 0.76%. As a group, analysts predict that KeyCorp will post 1.09 earnings per share for the current year.

KeyCorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Tuesday, December 3rd will be issued a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.47%. The ex-dividend date of this dividend is Tuesday, December 3rd. KeyCorp's dividend payout ratio (DPR) is presently 8,200.00%.

Wall Street Analyst Weigh In

KEY has been the topic of several research reports. The Goldman Sachs Group raised their target price on KeyCorp from $20.00 to $23.00 and gave the stock a "buy" rating in a research report on Tuesday, November 26th. Morgan Stanley upped their target price on shares of KeyCorp from $18.00 to $20.00 and gave the company an "equal weight" rating in a report on Wednesday, August 14th. Evercore ISI lifted their price target on shares of KeyCorp from $18.50 to $20.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 2nd. Piper Sandler upped their price objective on KeyCorp from $19.00 to $22.00 and gave the stock an "overweight" rating in a research note on Tuesday, December 3rd. Finally, Baird R W cut KeyCorp from a "strong-buy" rating to a "hold" rating in a report on Monday, October 14th. Nine analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $19.16.

About KeyCorp

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.