Ballentine Partners LLC Purchases 692 Shares of KeyCorp (NYSE:KEY)

Ballentine Partners LLC lifted its position in KeyCorp (NYSE:KEY) by 5.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,855 shares of the financial services provider’s stock after acquiring an additional 692 shares during the period. Ballentine Partners LLC’s holdings in KeyCorp were worth $220,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. HB Wealth Management LLC boosted its holdings in shares of KeyCorp by 4.6% during the 4th quarter. HB Wealth Management LLC now owns 37,961 shares of the financial services provider’s stock valued at $651,000 after buying an additional 1,659 shares in the last quarter. Brooklyn Investment Group boosted its stake in KeyCorp by 20.9% during the fourth quarter. Brooklyn Investment Group now owns 5,814 shares of the financial services provider’s stock worth $100,000 after acquiring an additional 1,006 shares in the last quarter. Merit Financial Group LLC grew its holdings in KeyCorp by 153.7% in the fourth quarter. Merit Financial Group LLC now owns 58,407 shares of the financial services provider’s stock worth $1,001,000 after purchasing an additional 35,385 shares during the period. Avanza Fonder AB bought a new position in shares of KeyCorp during the fourth quarter valued at approximately $1,618,000. Finally, Wealthcare Advisory Partners LLC lifted its holdings in shares of KeyCorp by 6.5% during the fourth quarter. Wealthcare Advisory Partners LLC now owns 132,489 shares of the financial services provider’s stock valued at $2,271,000 after purchasing an additional 8,067 shares during the last quarter. Hedge funds and other institutional investors own 79.69% of the company’s stock.

KeyCorp Stock Up 1.2 %

KEY opened at $17.69 on Friday. KeyCorp has a 1-year low of $13.10 and a 1-year high of $20.04. The firm’s 50 day simple moving average is $18.03 and its two-hundred day simple moving average is $17.09. The company has a current ratio of 0.85, a quick ratio of 0.88 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $17.53 billion, a PE ratio of -58.96, a PEG ratio of 0.65 and a beta of 1.27.

KeyCorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors 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 annualized dividend and a yield of 4.64%. KeyCorp’s dividend payout ratio (DPR) is presently -273.32%.

Insiders Place Their Bets

In related news, insider Angela G. Mago sold 15,011 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 234,582 shares in the company, valued at approximately $4,595,461.38. The trade was a 6.01 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Carlton L. Highsmith sold 9,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $17.14, for a total transaction of $154,260.00. Following the sale, the director now owns 37,864 shares in the company, valued at approximately $648,988.96. The trade was a 19.20 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. UBS Group raised their price objective on KeyCorp from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. DA Davidson lowered their price target on KeyCorp from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Wednesday. Royal Bank of Canada reissued an “outperform” rating and set a $18.00 price objective on shares of KeyCorp in a research report on Wednesday. Truist Financial initiated coverage on shares of KeyCorp in a report on Tuesday, January 7th. They issued a “hold” rating and a $19.00 target price for the company. Finally, Morgan Stanley reduced their price target on shares of KeyCorp from $23.00 to $22.00 and set an “equal weight” rating for the company in a research report on Wednesday. Nine equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $19.58.

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.