Beese Fulmer Investment Management Inc. Sells 2,922 Shares of KeyCorp (NYSE:KEY)

Beese Fulmer Investment Management Inc. trimmed its stake in KeyCorp (NYSE:KEY) by 5.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,521 shares of the financial services provider’s stock after selling 2,922 shares during the period. Beese Fulmer Investment Management Inc.’s holdings in KeyCorp were worth $832,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. grew its position in KeyCorp by 3.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 31,606,503 shares of the financial services provider’s stock worth $529,409,000 after buying an additional 993,942 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of KeyCorp by 3.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,114,598 shares of the financial services provider’s stock worth $119,170,000 after purchasing an additional 222,187 shares in the last quarter. Thrivent Financial for Lutherans increased its position in shares of KeyCorp by 108.3% during 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. Azora Capital LP acquired a new position in shares of KeyCorp in the third quarter valued at $92,413,000. Finally, Assenagon Asset Management S.A. lifted its position in KeyCorp by 280.3% in the third quarter. Assenagon Asset Management S.A. now owns 4,976,965 shares of the financial services provider’s stock worth $83,364,000 after purchasing an additional 3,668,168 shares during the period. Institutional investors own 79.69% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on KEY. Keefe, Bruyette & Woods lowered their price target 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. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $18.50 target price on shares of KeyCorp in a research note on Monday. Royal Bank of Canada restated an “outperform” rating and set a $18.00 price target on shares of KeyCorp in a research note on Wednesday, January 22nd. Stephens reiterated an “overweight” rating and issued a $20.00 price objective on shares of KeyCorp in a research note on Wednesday, January 22nd. Finally, The Goldman Sachs Group raised their target price on KeyCorp from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, KeyCorp presently has a consensus rating of “Moderate Buy” and an average price target of $19.69.

KeyCorp Trading Up 0.4 %

Shares of KeyCorp stock opened at $17.93 on Friday. 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 firm has a 50 day simple moving average of $17.78 and a 200 day simple moving average of $17.24. KeyCorp has a fifty-two week low of $13.10 and a fifty-two week high of $20.04.

KeyCorp Announces Dividend

The company 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 of this dividend is Tuesday, March 4th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.57%. KeyCorp’s payout ratio is currently -273.32%.

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.