By otakuyassine3@gmail.com 
D.A. Davidson & CO. reduced its stake in KeyCorp (NYSE:KEY – Free Report) by 15.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,857 shares of the financial services provider’s stock after selling 7,071 shares during the quarter. D.A. Davidson & CO.’s holdings in KeyCorp were worth $683,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. American Capital Advisory LLC purchased a new position in KeyCorp in the 3rd quarter worth approximately $28,000. Larson Financial Group LLC raised its holdings in KeyCorp by 90.8% in the 3rd quarter. Larson Financial Group LLC now owns 1,929 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 918 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new position in KeyCorp in the 3rd quarter worth approximately $35,000. Capital Performance Advisors LLP purchased a new position in KeyCorp in the 3rd quarter worth approximately $38,000. Finally, Venturi Wealth Management LLC raised its holdings in KeyCorp by 62.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,526 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 975 shares during the last quarter. 79.69% of the stock is owned by institutional investors.
Insider Buying and Selling
In other news, Director Of Nova Scotia Bank bought 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The stock was bought at an average price of $17.85 per share, with a total value of $892,500.00. Following the acquisition, the director now owns 162,983,726 shares of the company’s stock, valued at approximately $2,909,259,509.10. This represents a 0.03 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.61% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
A number of equities analysts recently weighed in on the stock. Piper Sandler boosted their price objective on shares of KeyCorp from $19.00 to $22.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. JPMorgan Chase & Co. restated a “neutral” rating and issued a $18.50 price objective on shares of KeyCorp in a report on Monday, February 3rd. Morgan Stanley decreased their target price on shares of KeyCorp from $23.00 to $22.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 22nd. Truist Financial initiated coverage on shares of KeyCorp in a research note on Tuesday, January 7th. They set a “hold” rating and a $19.00 target price for the company. Finally, Barclays boosted their target price on shares of KeyCorp from $19.00 to $21.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $19.69.
Get Our Latest Stock Analysis on KeyCorp
KeyCorp Trading Down 0.9 %
Shares of KeyCorp stock opened at $16.79 on Tuesday. The company has a market capitalization of $16.64 billion, a P/E ratio of -55.95, a P/E/G ratio of 0.65 and a beta of 1.26. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.84 and a current ratio of 0.85. The company has a fifty day moving average of $17.49 and a 200 day moving average of $17.45. KeyCorp has a fifty-two week low of $13.10 and a fifty-two week high of $20.04.
KeyCorp Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Tuesday, March 4th will be issued a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 4.89%. The ex-dividend date is Tuesday, March 4th. KeyCorp’s dividend payout ratio is currently -273.32%.
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.
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