MML Investors Services LLC Trims Stock Position in KeyCorp (NYSE:KEY)

MML Investors Services LLC trimmed its holdings in KeyCorp (NYSE:KEY) by 1.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 146,403 shares of the financial services provider’s stock after selling 1,968 shares during the period. MML Investors Services LLC’s holdings in KeyCorp were worth $2,452,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

KEY has been the topic of a number of research analyst reports. Piper Sandler boosted their target price on KeyCorp from $19.00 to $22.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. DA Davidson boosted their price objective on KeyCorp from $19.00 to $20.00 and gave the company a “buy” rating in a report on Monday, October 21st. Jefferies Financial Group raised their target price on KeyCorp from $18.00 to $19.00 and gave the company a “buy” rating in a report on Monday, August 19th. Citigroup lowered shares of KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 price target on the stock. in a research note on Thursday, November 7th. Finally, Baird R W lowered shares of KeyCorp from a “strong-buy” rating to a “hold” rating in a research note 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.16.

Insider Activity at KeyCorp

In other news, Director Carlton L. Highsmith sold 9,000 shares of KeyCorp stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $17.14, for a total transaction of $154,260.00. Following the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Angela G. Mago sold 15,011 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $19.59, for a total value of $294,065.49. Following the completion of the sale, the insider now directly owns 234,582 shares of the company’s stock, valued at approximately $4,595,461.38. This trade represents a 6.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.61% of the company’s stock.

KeyCorp Price Performance

KeyCorp stock opened at $18.13 on Monday. KeyCorp has a 12-month low of $12.94 and a 12-month 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. The stock has a market cap of $17.97 billion, a P/E ratio of 1,813.00, a price-to-earnings-growth ratio of 1.00 and a beta of 1.25. The company has a fifty day simple moving average of $18.24 and a 200-day simple moving average of $16.39.

KeyCorp (NYSE:KEY) last issued its earnings results on Thursday, October 17th. The financial services provider reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.03. The business 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%. Equities analysts expect that KeyCorp will post 1.09 EPS for the current fiscal year.

KeyCorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Tuesday, December 3rd were issued a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 4.52%. The ex-dividend date of this dividend was Tuesday, December 3rd. KeyCorp’s payout ratio is 8,200.00%.

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.