ING Groep NV Trims Stake in KeyCorp (NYSE:KEY)

ING Groep NV reduced its stake in shares of KeyCorp (NYSE:KEY) by 4.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 46,069 shares of the financial services provider’s stock after selling 1,978 shares during the quarter. ING Groep NV’s holdings in KeyCorp were worth $790,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of KEY. 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 increased its position in shares of KeyCorp by 90.8% in the third quarter. Larson Financial Group LLC now owns 1,929 shares of the financial services provider’s stock valued at $32,000 after buying an additional 918 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new stake in shares of KeyCorp in the third quarter valued at approximately $35,000. Capital Performance Advisors LLP purchased a new stake in shares of KeyCorp in the third quarter valued at approximately $38,000. Finally, Venturi Wealth Management LLC increased its position 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 valued at $42,000 after buying an additional 975 shares in the last quarter. 79.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other KeyCorp news, Director Of Nova Scotia Bank purchased 50,000 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The shares were acquired at an average price of $17.85 per share, with a total value of $892,500.00. Following the purchase, the director now directly owns 162,983,726 shares in the company, valued at approximately $2,909,259,509.10. This trade represents a 0.03 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.61% of the company’s stock.

KeyCorp Stock Performance

Shares of KeyCorp stock opened at $16.79 on Tuesday. KeyCorp has a 52 week low of $13.10 and a 52 week high of $20.04. The business’s fifty day simple moving average is $17.49 and its 200-day simple moving average is $17.45. The firm has a market cap of $16.64 billion, a PE ratio of -55.95, a price-to-earnings-growth ratio of 0.65 and a beta of 1.26. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.77.

KeyCorp Announces Dividend

The firm also recently declared 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. This represents a $0.82 annualized dividend and a dividend yield of 4.89%. The ex-dividend date of this dividend is Tuesday, March 4th. KeyCorp’s dividend payout ratio (DPR) is presently -273.32%.

Analyst Ratings Changes

A number of analysts have recently commented on KEY shares. Truist Financial started coverage on KeyCorp in a research report on Tuesday, January 7th. They issued a “hold” rating and a $19.00 price objective for the company. Piper Sandler lifted their price target on KeyCorp from $19.00 to $22.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. The Goldman Sachs Group lifted 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. Wells Fargo & Company lifted their price target on KeyCorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Finally, Barclays boosted their price objective on KeyCorp from $19.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $19.69.

KeyCorp Company 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.