CX Institutional Lowers Stake in KeyCorp (NYSE:KEY)

CX Institutional cut its position in KeyCorp (NYSE:KEY) by 10.1% in the 4th quarter, Holdings Channel reports. The institutional investor owned 11,285 shares of the financial services provider’s stock after selling 1,261 shares during the quarter. CX Institutional’s holdings in KeyCorp were worth $193,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Wolff Wiese Magana LLC raised its holdings in KeyCorp by 285.5% in the third quarter. Wolff Wiese Magana LLC now owns 1,542 shares of the financial services provider’s stock worth $26,000 after buying an additional 1,142 shares during the last quarter. American Capital Advisory LLC purchased a new position in KeyCorp in the third quarter worth about $28,000. Larson Financial Group LLC raised its holdings in KeyCorp by 90.8% in the third quarter. Larson Financial Group LLC now owns 1,929 shares of the financial services provider’s stock worth $32,000 after buying an additional 918 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new position in KeyCorp in the third quarter worth about $35,000. Finally, Capital Performance Advisors LLP purchased a new position in KeyCorp in the third quarter worth about $38,000. 79.69% of the stock is owned by hedge funds and other institutional investors.

KeyCorp Stock Performance

Shares of NYSE KEY opened at $17.69 on Monday. The firm has a fifty day moving average price of $18.03 and a 200-day moving average price of $17.11. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.85 and a quick ratio of 0.88. The stock has a market cap of $17.53 billion, a PE ratio of -58.96, a price-to-earnings-growth ratio of 0.65 and a beta of 1.27. KeyCorp has a 1 year low of $13.10 and a 1 year high of $20.04.

KeyCorp Announces Dividend

The company 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 $0.205 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.64%. KeyCorp’s dividend payout ratio (DPR) is presently -273.33%.

Insider Transactions at KeyCorp

In other news, Director Carlton L. Highsmith sold 9,000 shares of the stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $17.14, for a total value of $154,260.00. Following the completion of the sale, the director now directly owns 37,864 shares of the company’s stock, valued at $648,988.96. This represents a 19.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Angela G. Mago sold 15,011 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $19.59, for a total transaction of $294,065.49. Following the transaction, the insider now owns 234,582 shares of the company’s stock, valued at approximately $4,595,461.38. This represents a 6.01 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on KEY. Baird R W cut shares of KeyCorp from a “strong-buy” rating to a “hold” rating in a report on Monday, October 14th. Keefe, Bruyette & Woods reduced their price target on shares of KeyCorp from $22.00 to $21.00 and set an “outperform” rating for the company in a research note on Wednesday, January 22nd. Robert W. Baird lowered shares of KeyCorp from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $18.00 to $17.00 in a research note on Monday, October 14th. Citigroup lowered shares of KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 price target for the company. in a research note on Thursday, November 7th. Finally, The Goldman Sachs Group lifted their price target on shares of KeyCorp from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Nine analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, KeyCorp currently has an average rating of “Moderate Buy” and a consensus price target of $19.58.

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.