Bank & Trust Co Trims Stake in KeyCorp (NYSE:KEY)

Bank & Trust Co lowered its position in KeyCorp (NYSE:KEY) by 3.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 61,514 shares of the financial services provider’s stock after selling 1,918 shares during the quarter. Bank & Trust Co’s holdings in KeyCorp were worth $1,054,000 at the end of the most recent quarter.

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

KeyCorp Stock Performance

NYSE:KEY traded down $0.03 during mid-day trading on Tuesday, reaching $17.35. The company’s stock had a trading volume of 2,247,511 shares, compared to its average volume of 6,969,781. The firm’s fifty day moving average price is $18.27 and its two-hundred day moving average price is $16.78. KeyCorp has a 12-month low of $12.94 and a 12-month high of $20.04. The stock has a market cap of $17.20 billion, a P/E ratio of 1,735.00, a PEG ratio of 1.00 and a beta of 1.27. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.09.

KeyCorp (NYSE:KEY) last issued its earnings results on Thursday, October 17th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.03. The company had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.59 billion. KeyCorp had a net margin of 0.76% and a return on equity of 8.24%. On average, equities analysts forecast that KeyCorp will post 1.09 EPS for the current fiscal year.

KeyCorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Tuesday, December 3rd were paid a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 4.73%. The ex-dividend date of this dividend was Tuesday, December 3rd. KeyCorp’s dividend payout ratio (DPR) is presently 8,200.00%.

Insider Activity at KeyCorp

In other news, Director Carlton L. Highsmith sold 9,000 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $17.14, for a total transaction of $154,260.00. Following the sale, the director now directly owns 37,864 shares in the company, valued at $648,988.96. This trade represents a 19.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Angela G. Mago sold 15,011 shares of the stock in a transaction on Wednesday, November 6th. The stock was 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 owns 234,582 shares of the company’s stock, valued at $4,595,461.38. The trade was a 6.01 % decrease in their position. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently commented on KEY shares. The Goldman Sachs Group lifted their price objective on KeyCorp from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Robert W. Baird downgraded KeyCorp from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $18.00 to $17.00 in a research report on Monday, October 14th. Baird R W downgraded shares of KeyCorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 14th. UBS Group increased their price target on shares of KeyCorp from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Finally, Truist Financial assumed coverage on shares of KeyCorp in a research note on Tuesday. They set a “hold” rating and a $19.00 price objective for the company. Ten analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $19.44.

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.