Choreo LLC Decreases Stock Holdings in KeyCorp (NYSE:KEY)

Choreo LLC lessened its holdings in KeyCorp (NYSE:KEY) by 3.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 45,562 shares of the financial services provider’s stock after selling 1,774 shares during the period. Choreo LLC’s holdings in KeyCorp were worth $780,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in KEY. Wolff Wiese Magana LLC lifted its stake in shares of KeyCorp by 285.5% during the third quarter. Wolff Wiese Magana LLC now owns 1,542 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 1,142 shares in the last quarter. American Capital Advisory LLC purchased a new stake in shares of KeyCorp during the 3rd quarter valued at about $28,000. Larson Financial Group LLC lifted its position in KeyCorp by 90.8% during 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 in the last quarter. Catalyst Capital Advisors LLC purchased a new position in KeyCorp in the 3rd quarter worth approximately $35,000. Finally, Capital Performance Advisors LLP purchased a new stake in shares of KeyCorp during the third quarter valued at approximately $38,000. 79.69% of the stock is owned by hedge funds and other institutional investors.

KeyCorp Trading Down 0.6 %

NYSE KEY opened at $17.84 on Monday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.84 and a current ratio of 0.85. KeyCorp has a one year low of $13.10 and a one year high of $20.04. The company has a 50-day simple moving average of $17.71 and a 200-day simple moving average of $17.27. The firm has a market capitalization of $17.68 billion, a PE ratio of -59.46, a price-to-earnings-growth ratio of 0.66 and a beta of 1.26.

KeyCorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th will be paid a $0.205 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $0.82 dividend on an annualized basis and a yield of 4.60%. KeyCorp’s payout ratio is currently -273.32%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on KEY shares. Baird R W downgraded shares of KeyCorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 14th. Keefe, Bruyette & Woods decreased their price objective on shares of KeyCorp from $22.00 to $21.00 and set an “outperform” rating for the company in a research report on Wednesday, January 22nd. UBS Group lifted their target price on KeyCorp from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Wells Fargo & Company increased their price target on KeyCorp from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Finally, 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. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, KeyCorp has a consensus rating of “Moderate Buy” and a consensus price target of $19.69.

Insider Activity

In other news, Director Of Nova Scotia Bank purchased 50,000 shares of the stock in a transaction dated Wednesday, February 5th. The stock was acquired at an average price of $17.85 per share, for a total transaction of $892,500.00. Following the completion of the transaction, the director now owns 162,983,726 shares of the company’s stock, valued at approximately $2,909,259,509.10. The trade was a 0.03 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.61% of the company’s stock.

KeyCorp Profile

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.