Insider Selling: KeyCorp (NYSE:KEY) Insider Sells 99,999 Shares of Stock
KeyCorp (NYSE:KEY) insider Andrew J. Paine III sold 99,999 shares of KeyCorp stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $18.26, for a total value of $1,825,981.74. Following the transaction, the insider now directly owns 85,469 shares of the company’s stock, valued at approximately $1,560,663.94. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
NYSE:KEY traded down $0.17 during mid-day trading on Monday, reaching $18.34. The stock had a trading volume of 4,873,713 shares, compared to its average volume of 11,341,606. The company has a 50 day moving average price of $17.46. The company has a market capitalization of $18.72 billion, a PE ratio of 10.60, a P/E/G ratio of 3.16 and a beta of 1.25. KeyCorp has a one year low of $13.65 and a one year high of $21.91. The company has a quick ratio of 0.89, a current ratio of 0.91 and a debt-to-equity ratio of 0.95.
KeyCorp (NYSE:KEY) last released its earnings results on Tuesday, July 23rd. The financial services provider reported $0.44 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.44. The company had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.62 billion. KeyCorp had a return on equity of 12.82% and a net margin of 23.15%. KeyCorp’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.44 EPS. Equities research analysts anticipate that KeyCorp will post 1.8 earnings per share for the current year.
A number of analysts have recently issued reports on the company. Jefferies Financial Group lifted their price target on KeyCorp from $20.00 to $18.50 and gave the company a “buy” rating in a research report on Monday, May 6th. BMO Capital Markets set a $81.00 price target on Kilroy Realty and gave the company a “buy” rating in a research report on Wednesday, July 24th. Robert W. Baird dropped their price target on Micron Technology from $32.00 to $28.00 and set an “underperform” rating for the company in a research report on Friday, June 21st. Nomura set a $29.00 price target on Fifth Third Bancorp and gave the company a “hold” rating in a research report on Friday. Finally, Zacks Investment Research upgraded Flagstar Bancorp from a “hold” rating to a “buy” rating and set a $38.00 price target for the company in a research report on Monday, July 8th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $23.03.
A number of large investors have recently added to or reduced their stakes in KEY. 1ST Source Bank increased its stake in KeyCorp by 45.3% in the 2nd quarter. 1ST Source Bank now owns 25,891 shares of the financial services provider’s stock worth $460,000 after purchasing an additional 8,075 shares during the period. Advisor Partners LLC increased its stake in KeyCorp by 4.8% in the 2nd quarter. Advisor Partners LLC now owns 19,052 shares of the financial services provider’s stock worth $338,000 after purchasing an additional 880 shares during the period. Hedeker Wealth LLC increased its stake in KeyCorp by 0.4% in the 2nd quarter. Hedeker Wealth LLC now owns 222,904 shares of the financial services provider’s stock worth $3,956,000 after purchasing an additional 824 shares during the period. Creative Planning increased its stake in KeyCorp by 1.8% in the 2nd quarter. Creative Planning now owns 80,840 shares of the financial services provider’s stock worth $1,435,000 after purchasing an additional 1,436 shares during the period. Finally, Sumitomo Life Insurance Co. increased its stake in KeyCorp by 2.9% in the 2nd quarter. Sumitomo Life Insurance Co. now owns 60,610 shares of the financial services provider’s stock worth $1,076,000 after purchasing an additional 1,712 shares during the period. Institutional investors own 80.44% of the company’s stock.
KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking services in the United States. The company's Key Community Bank segment offers various deposit and investment products, personal finance services, residential mortgages, home equity loans, credit cards, and installment loans.
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