Moors & Cabot Inc. Cuts Position in KeyCorp (NYSE:KEY)

Moors & Cabot Inc. decreased its position in KeyCorp (NYSE:KEY) by 5.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 92,570 shares of the financial services provider’s stock after selling 5,759 shares during the quarter. Moors & Cabot Inc.’s holdings in KeyCorp were worth $1,587,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in KEY. Azora Capital LP purchased a new stake in KeyCorp in the third quarter valued at approximately $92,413,000. Thrivent Financial for Lutherans raised its position 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 valued at $98,025,000 after purchasing an additional 3,042,060 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position 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 valued at $78,066,000 after purchasing an additional 2,900,971 shares during the period. Victory Capital Management Inc. increased its position in shares of KeyCorp by 279.6% during 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 acquiring an additional 2,790,192 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in shares of KeyCorp during the fourth quarter worth $42,827,000. Hedge funds and other institutional investors own 79.69% of the company’s stock.

Insider Transactions at KeyCorp

In other KeyCorp news, Director Of Nova Scotia Bank bought 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 completion of the purchase, 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 ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on KEY. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $18.50 price objective on shares of KeyCorp in a research report on Monday, February 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $18.00 price objective on shares of KeyCorp in a research report on Wednesday, January 22nd. Truist Financial began coverage on KeyCorp in a research report on Tuesday, January 7th. They set a “hold” rating and a $19.00 price objective on the stock. Wells Fargo & Company upped their price objective on KeyCorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Finally, Citigroup raised KeyCorp from a “neutral” rating to a “buy” rating and set a $20.00 price objective on the stock in a research report on Monday. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $19.75.

KeyCorp Stock Performance

NYSE KEY opened at $15.50 on Thursday. 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 has a 1 year low of $13.11 and a 1 year high of $20.04. The company has a market capitalization of $17.12 billion, a PE ratio of -51.65, a P/E/G ratio of 0.65 and a beta of 1.26. The company has a fifty day moving average of $17.26 and a two-hundred day moving average of $17.45.

KeyCorp Announces Dividend

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 paid a dividend of $0.205 per share. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $0.82 annualized dividend and a dividend yield of 5.29%. KeyCorp’s dividend payout ratio (DPR) is -273.33%.

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.