KeyCorp (NYSE:KEY) Shares Sold by Pine Valley Investments Ltd Liability Co

Pine Valley Investments Ltd Liability Co reduced its position in KeyCorp (NYSE:KEY) by 2.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 81,915 shares of the financial services provider’s stock after selling 1,750 shares during the quarter. Pine Valley Investments Ltd Liability Co’s holdings in KeyCorp were worth $1,404,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in KEY. Signaturefd LLC raised its stake in KeyCorp by 37.2% in the 3rd quarter. Signaturefd LLC now owns 3,839 shares of the financial services provider’s stock valued at $64,000 after purchasing an additional 1,040 shares during the last quarter. International Assets Investment Management LLC raised its stake in KeyCorp by 1,068.9% in the 3rd quarter. International Assets Investment Management LLC now owns 431,363 shares of the financial services provider’s stock valued at $7,225,000 after purchasing an additional 394,460 shares during the last quarter. Ballentine Partners LLC acquired a new position in KeyCorp in the 3rd quarter valued at $204,000. NorthCrest Asset Manangement LLC acquired a new position in KeyCorp in the 3rd quarter valued at $255,000. Finally, Wealth Enhancement Advisory Services LLC increased its stake in shares of KeyCorp by 2.2% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 83,661 shares of the financial services provider’s stock worth $1,401,000 after acquiring an additional 1,782 shares during the last quarter. 79.69% of the stock is owned by institutional investors and hedge funds.

KeyCorp Stock Performance

Shares of KeyCorp stock opened at $16.70 on Wednesday. The business has a 50-day moving average of $17.47 and a 200 day moving average of $17.47. KeyCorp has a 12 month low of $13.10 and a 12 month high of $20.04. The stock has a market capitalization of $16.55 billion, a price-to-earnings ratio of -55.65, a price-to-earnings-growth ratio of 0.65 and a beta of 1.26. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.85 and a quick ratio of 0.84.

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 dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 4.91%. The ex-dividend date is Tuesday, March 4th. KeyCorp’s dividend payout ratio (DPR) is -273.33%.

Analysts Set New Price Targets

A number of analysts have issued reports on KEY shares. Citigroup downgraded KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 target price for the company. in a research note on Thursday, November 7th. DA Davidson cut their target price on KeyCorp from $22.00 to $21.00 and set a “buy” rating for the company in a research note on Wednesday, January 22nd. Wells Fargo & Company raised their target price on KeyCorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Keefe, Bruyette & Woods cut their target price on KeyCorp from $22.00 to $21.00 and set an “outperform” rating for the company in a research note on Wednesday, January 22nd. Finally, Barclays raised their target price on KeyCorp from $19.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. Nine analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $19.69.

Insider Activity at KeyCorp

In related news, Director Of Nova Scotia Bank acquired 50,000 shares of the firm’s 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 purchase, the director now owns 162,983,726 shares of the company’s stock, valued at $2,909,259,509.10. This represents a 0.03 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.67% of the stock is currently owned by company insiders.

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.