KeyCorp (NYSE:KEY) Shares Sold by SlateStone Wealth LLC

SlateStone Wealth LLC trimmed its holdings in shares of KeyCorp (NYSE:KEY) by 4.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 111,924 shares of the financial services provider’s stock after selling 5,200 shares during the period. SlateStone Wealth LLC’s holdings in KeyCorp were worth $1,918,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Ethos Financial Group LLC purchased a new stake in shares of KeyCorp during the fourth quarter valued at approximately $27,000. Larson Financial Group LLC raised its stake in shares of KeyCorp by 90.8% during the third quarter. Larson Financial Group LLC now owns 1,929 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 918 shares during the period. SBI Securities Co. Ltd. purchased a new stake in shares of KeyCorp during the fourth quarter valued at approximately $34,000. Venturi Wealth Management LLC increased its stake in shares of KeyCorp by 62.9% in the third quarter. Venturi Wealth Management LLC now owns 2,526 shares of the financial services provider’s stock worth $42,000 after buying an additional 975 shares during the last quarter. Finally, Whipplewood Advisors LLC bought a new stake in shares of KeyCorp in the fourth quarter worth $45,000. 79.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Stephens restated an “overweight” rating and issued a $20.00 price target on shares of KeyCorp in a research note on Wednesday, January 22nd. The Goldman Sachs Group boosted their target price on shares of KeyCorp from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Truist Financial initiated coverage on shares of KeyCorp in a research note on Tuesday, January 7th. They set a “hold” rating and a $19.00 target price for the company. Barclays boosted their price target on shares of KeyCorp from $19.00 to $21.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $18.50 price target on shares of KeyCorp in a report on Monday, February 3rd. Eight investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.64.

Insider Activity

In other news, Director Of Nova Scotia Bank purchased 50,000 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was acquired at an average price 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 represents a 0.03 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.61% of the stock is owned by corporate insiders.

KeyCorp Price Performance

Shares of KEY opened at $15.68 on Friday. The company has a market capitalization of $17.32 billion, a price-to-earnings ratio of -52.25, a P/E/G ratio of 0.65 and a beta of 1.26. KeyCorp has a fifty-two week low of $13.11 and a fifty-two week high of $20.04. 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 is $17.19 and its 200-day moving average is $17.43.

KeyCorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th were issued a $0.205 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 5.23%. KeyCorp’s dividend payout ratio is -273.33%.

KeyCorp announced that its Board of Directors has approved a stock buyback plan on Thursday, March 13th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the financial services provider to buy up to 6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

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.