Stanley Laman Group Ltd. Sells 3,264 Shares of KeyCorp (NYSE:KEY)
Stanley Laman Group Ltd. lessened its stake in KeyCorp (NYSE:KEY) by 3.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 80,522 shares of the financial services provider’s stock after selling 3,264 shares during the period. Stanley Laman Group Ltd.’s holdings in KeyCorp were worth $1,429,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Alpha Omega Wealth Management LLC bought a new position in KeyCorp in the 1st quarter worth approximately $25,000. Bremer Bank National Association bought a new position in KeyCorp in the 1st quarter worth approximately $29,000. Global Retirement Partners LLC raised its position in KeyCorp by 50.7% in the 1st quarter. Global Retirement Partners LLC now owns 1,989 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 669 shares during the last quarter. Mizuho Securities Co. Ltd. raised its position in KeyCorp by 56.3% in the 1st quarter. Mizuho Securities Co. Ltd. now owns 2,500 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 900 shares during the last quarter. Finally, Manchester Financial Inc. bought a new position in KeyCorp in the 2nd quarter worth approximately $46,000. Hedge funds and other institutional investors own 80.91% of the company’s stock.
Shares of KeyCorp stock traded down $0.48 on Wednesday, hitting $15.97. 834,759 shares of the company’s stock traded hands, compared to its average volume of 11,179,705. 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 has a one year low of $13.65 and a one year high of $21.91. The firm has a 50-day moving average price of $17.51. The company has a market cap of $16.52 billion, a PE ratio of 9.21, a PEG ratio of 2.81 and a beta of 1.24.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Tuesday, August 27th will be given a $0.185 dividend. The ex-dividend date of this dividend is Monday, August 26th. This represents a $0.74 dividend on an annualized basis and a dividend yield of 4.63%. This is a boost from KeyCorp’s previous quarterly dividend of $0.17. KeyCorp’s dividend payout ratio is currently 39.31%.
In related news, insider Amy G. Brady sold 13,238 shares of the company’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $17.00, for a total value of $225,046.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Andrew J. Paine III sold 99,999 shares of the company’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $18.26, for a total transaction of $1,825,981.74. Following the completion of the sale, the insider now owns 85,469 shares of the company’s stock, valued at approximately $1,560,663.94. The disclosure for this sale can be found here. 0.08% of the stock is owned by corporate insiders.
KEY has been the subject of several research analyst reports. GMP Securities restated an “average” rating and issued a $34.50 price objective on shares of KeyCorp in a research report on Friday, May 17th. Wood & Company reiterated an “average” rating and set a $38.00 target price on shares of KeyCorp in a research report on Thursday, May 16th. Credit Suisse Group upgraded shares of KeyCorp from an “average” rating to a “buy” rating and set a $40.00 target price for the company in a research report on Wednesday, August 7th. BMO Capital Markets upped their target price on shares of KeyCorp from $19.00 to $20.00 and gave the company a “market perform” rating in a research report on Wednesday, July 24th. Finally, Jefferies Financial Group upped their target price on shares of KeyCorp from $20.00 to $18.50 and gave the company a “buy” rating in a research report on Monday, May 6th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and ten have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $23.88.
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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