Salzhauer Michael Lowers Stock Holdings in KeyCorp (NYSE:KEY)

Salzhauer Michael lessened its stake in shares of KeyCorp (NYSE:KEY) by 42.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 74,848 shares of the financial services provider’s stock after selling 55,500 shares during the quarter. Salzhauer Michael’s holdings in KeyCorp were worth $1,283,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of KEY. Wolff Wiese Magana LLC increased its position in KeyCorp by 285.5% during the 3rd 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 during the period. American Capital Advisory LLC purchased a new stake in shares of KeyCorp in the third quarter valued at approximately $28,000. Larson Financial Group LLC grew its holdings in KeyCorp by 90.8% during the third 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 during the period. Catalyst Capital Advisors LLC purchased a new position in KeyCorp in the third quarter worth $35,000. Finally, Capital Performance Advisors LLP acquired a new stake in KeyCorp in the third quarter valued at $38,000. 79.69% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently commented on KEY. Keefe, Bruyette & Woods decreased their price objective on shares of KeyCorp from $22.00 to $21.00 and set an “outperform” rating on the stock in a report on Wednesday, January 22nd. The Goldman Sachs Group boosted their price target on KeyCorp from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Robert W. Baird downgraded KeyCorp from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $18.00 to $17.00 in a research note on Monday, October 14th. Baird R W downgraded KeyCorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 14th. Finally, Wells Fargo & Company upped their target price on KeyCorp from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Nine analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $19.69.

KeyCorp Trading Down 0.6 %

KEY stock opened at $17.84 on Monday. The stock’s fifty day simple moving average is $17.71 and its 200-day simple moving average is $17.27. KeyCorp has a 52-week low of $13.10 and a 52-week high of $20.04. 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 Dividend Announcement

The business also recently disclosed 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. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.60%. The ex-dividend date is Tuesday, March 4th. KeyCorp’s dividend payout ratio is currently -273.32%.

Insider Transactions at KeyCorp

In other news, Director Of Nova Scotia Bank acquired 50,000 shares of the company’s stock in a transaction dated Wednesday, February 5th. The stock was acquired at an average cost of $17.85 per share, for a total transaction of $892,500.00. Following the acquisition, the director now directly owns 162,983,726 shares in the company, valued at approximately $2,909,259,509.10. This represents a 0.03 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 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.