Bryn Mawr Capital Management LLC Lowers Position in KeyCorp (NYSE:KEY)

Bryn Mawr Capital Management LLC cut its holdings in KeyCorp (NYSE:KEY) by 19.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,498 shares of the financial services provider’s stock after selling 3,288 shares during the quarter. Bryn Mawr Capital Management LLC’s holdings in KeyCorp were worth $231,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in KEY. Azora Capital LP bought a new position in KeyCorp in the third quarter worth about $92,413,000. Thrivent Financial for Lutherans raised its holdings in KeyCorp by 108.3% in the third quarter. Thrivent Financial for Lutherans now owns 5,852,233 shares of the financial services provider’s stock worth $98,025,000 after purchasing an additional 3,042,060 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in KeyCorp by 164.9% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,660,680 shares of the financial services provider’s stock worth $78,066,000 after purchasing an additional 2,900,971 shares in the last quarter. Victory Capital Management Inc. raised its holdings in KeyCorp by 279.6% in the third quarter. Victory Capital Management Inc. now owns 3,788,173 shares of the financial services provider’s stock worth $63,452,000 after purchasing an additional 2,790,192 shares in the last quarter. Finally, National Pension Service raised its holdings in KeyCorp by 1,124.8% in the fourth quarter. National Pension Service now owns 1,679,582 shares of the financial services provider’s stock worth $28,788,000 after purchasing an additional 1,542,456 shares in the last quarter. 79.69% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Of Nova Scotia Bank acquired 50,000 shares of KeyCorp stock in a transaction that occurred on Wednesday, February 5th. The stock was purchased at an average cost of $17.85 per share, with a total value of $892,500.00. Following the purchase, the director now owns 162,983,726 shares in the company, valued at $2,909,259,509.10. This trade represents a 0.03 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.67% of the company’s stock.

KeyCorp Trading Up 0.8 %

Shares of NYSE:KEY opened at $17.00 on Friday. KeyCorp has a 1 year low of $13.10 and a 1 year high of $20.04. The firm has a market capitalization of $16.85 billion, a price-to-earnings ratio of -56.65, 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. The business’s 50 day moving average price is $17.47 and its 200-day moving average price is $17.46.

KeyCorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th will be given a dividend of $0.205 per share. The ex-dividend date is Tuesday, March 4th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.82%. KeyCorp’s dividend payout ratio (DPR) is -273.33%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $18.00 target price on shares of KeyCorp in a report on Wednesday, January 22nd. The Goldman Sachs Group upped their price objective on shares of KeyCorp from $20.00 to $23.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Morgan Stanley cut their price objective on shares of KeyCorp from $23.00 to $22.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 22nd. DA Davidson cut their price objective on shares of KeyCorp from $22.00 to $21.00 and set a “buy” rating on the stock in a report on Wednesday, January 22nd. Finally, Piper Sandler upped their price objective on shares of KeyCorp from $19.00 to $22.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Nine analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, KeyCorp presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.69.

KeyCorp Company 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.