Tidal Investments LLC Reduces Holdings in KeyCorp (NYSE:KEY)

Tidal Investments LLC trimmed its position in KeyCorp (NYSE:KEY - Free Report) by 50.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 quarter.

A number of other large investors have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. lifted its stake in KeyCorp by 14.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 657,913 shares of the financial services provider's stock valued at $10,928,000 after acquiring an additional 85,052 shares during the last quarter. MBB Public Markets I LLC acquired a new position in KeyCorp during the second quarter worth approximately $981,000. Dai ichi Life Insurance Company Ltd acquired a new position in shares of KeyCorp during the 3rd quarter worth approximately $798,000. Prospector Partners LLC bought a new stake in KeyCorp in the 3rd quarter valued at $9,630,000. Finally, Natixis Advisors LLC lifted its holdings in KeyCorp by 17.9% during the 3rd quarter. Natixis Advisors LLC now owns 689,469 shares of the financial services provider's stock valued at $11,549,000 after purchasing an additional 104,689 shares during the last quarter. Institutional investors and hedge funds own 79.69% of the company's stock.

Insider Buying and Selling at KeyCorp

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

KeyCorp Price Performance

Shares of NYSE KEY traded up $0.28 during midday trading on Friday, hitting $17.09. 28,981,748 shares of the company's stock were exchanged, compared to its average volume of 13,511,465. KeyCorp has a 12-month low of $12.94 and a 12-month high of $20.04. The company has a market cap of $16.94 billion, a price-to-earnings ratio of 1,709.00, a PEG ratio of 1.00 and a beta of 1.25. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.09. The business's fifty day moving average price is $18.29 and its two-hundred day moving average price is $16.45.

KeyCorp (NYSE:KEY - Get Free Report) last announced its quarterly earnings data on Thursday, October 17th. The financial services provider reported $0.30 EPS for the quarter, beating the consensus estimate of $0.27 by $0.03. The firm had revenue of $1.60 billion for 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, research analysts forecast that KeyCorp will post 1.09 EPS for the current fiscal year.

KeyCorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Tuesday, December 3rd were paid a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 4.80%. The ex-dividend date of this dividend was Tuesday, December 3rd. KeyCorp's payout ratio is 8,200.00%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Robert W. Baird downgraded KeyCorp from an "outperform" rating to a "neutral" rating and dropped their target price for the stock from $18.00 to $17.00 in a report on Monday, October 14th. Citigroup cut shares of KeyCorp from a "buy" rating to a "neutral" rating and set a $19.00 target price on the stock. in a report on Thursday, November 7th. Wells Fargo & Company lifted their price objective on KeyCorp from $20.00 to $22.00 and gave the company an "overweight" rating in a report on Friday, November 15th. Royal Bank of Canada increased their price objective on shares of KeyCorp from $17.00 to $18.00 and gave the stock an "outperform" rating in a research note on Friday, October 18th. Finally, Piper Sandler increased their price target on shares of KeyCorp from $19.00 to $22.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 3rd. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus 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.