Craig A. Buffie Sells 31,385 Shares of KeyCorp (NYSE:KEY) Stock

KeyCorp (NYSE:KEY) insider Craig A. Buffie sold 31,385 shares of the company’s stock in a transaction on Friday, July 28th. The stock was sold at an average price of $18.01, for a total value of $565,243.85. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Shares of KeyCorp (NYSE KEY) traded down 0.57% on Friday, reaching $17.52. 12,267,569 shares of the company’s stock were exchanged. KeyCorp has a 1-year low of $11.89 and a 1-year high of $19.53. The stock’s 50-day moving average price is $18.51 and its 200-day moving average price is $18.27. The company has a market capitalization of $19.05 billion, a P/E ratio of 17.40 and a beta of 1.11.

KeyCorp (NYSE:KEY) last released its earnings results on Thursday, July 20th. The financial services provider reported $0.34 EPS for the quarter, hitting analysts’ consensus estimates of $0.34. KeyCorp had a net margin of 16.62% and a return on equity of 9.88%. The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the previous year, the firm earned $0.27 EPS. The business’s revenue for the quarter was up 52.1% on a year-over-year basis. Analysts anticipate that KeyCorp will post $1.36 EPS for the current fiscal year.

KeyCorp announced that its board has approved a share repurchase program on Wednesday, June 28th that allows the company to repurchase $800.00 million in outstanding shares. This repurchase authorization allows the financial services provider to purchase up to 4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Tuesday, August 29th will be issued a $0.095 dividend. The ex-dividend date is Friday, August 25th. This represents a $0.38 dividend on an annualized basis and a dividend yield of 2.17%. KeyCorp’s payout ratio is currently 38.78%.

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Several hedge funds have recently added to or reduced their stakes in KEY. Quadrature Capital Ltd purchased a new stake in KeyCorp during the fourth quarter worth about $1,307,000. UBS Asset Management Americas Inc. raised its stake in KeyCorp by 4.2% in the fourth quarter. UBS Asset Management Americas Inc. now owns 3,763,192 shares of the financial services provider’s stock worth $68,752,000 after buying an additional 151,531 shares in the last quarter. Kentucky Retirement Systems purchased a new stake in KeyCorp during the fourth quarter worth about $1,433,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in KeyCorp during the fourth quarter worth about $639,000. Finally, Macquarie Group Ltd. raised its stake in KeyCorp by 31.7% in the fourth quarter. Macquarie Group Ltd. now owns 869,496 shares of the financial services provider’s stock worth $15,885,000 after buying an additional 209,075 shares in the last quarter. Institutional investors and hedge funds own 81.27% of the company’s stock.

A number of analysts have recently weighed in on KEY shares. FBR & Co reaffirmed an “outperform” rating and set a $22.00 price objective (up previously from $21.00) on shares of KeyCorp in a research report on Thursday, April 20th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of KeyCorp in a report on Friday, April 21st. Nomura reissued a “buy” rating and issued a $23.00 target price on shares of KeyCorp in a report on Friday, April 21st. Instinet reissued a “buy” rating and issued a $23.00 target price (up previously from $22.00) on shares of KeyCorp in a report on Sunday, April 23rd. Finally, Keefe, Bruyette & Woods set a $20.00 target price on KeyCorp and gave the company a “hold” rating in a report on Saturday, April 22nd. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $19.74.

KeyCorp Company Profile

KeyCorp is a bank holding company. The Company is a bank-based financial services company. The Company operates through its subsidiary, KeyBank National Association (KeyBank), which is engaged in providing banking services. Through KeyBank and other subsidiaries, it provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, and investment banking products and services to individual, corporate and institutional clients.

Insider Buying and Selling by Quarter for KeyCorp (NYSE:KEY)

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