Pine Valley Investments Ltd Liability Co Decreases Stake in KeyCorp (NYSE:KEY)

Pine Valley Investments Ltd Liability Co lessened its holdings in shares of KeyCorp (NYSE:KEY) by 2.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 81,915 shares of the financial services provider’s stock after selling 1,750 shares during the period. Pine Valley Investments Ltd Liability Co’s holdings in KeyCorp were worth $1,404,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Avanza Fonder AB acquired a new stake in shares of KeyCorp during the 4th quarter worth about $1,618,000. Dai ichi Life Insurance Company Ltd acquired a new stake in shares of KeyCorp during the 3rd quarter worth about $798,000. State of New Jersey Common Pension Fund D raised its position in shares of KeyCorp by 13.6% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 304,565 shares of the financial services provider’s stock worth $5,101,000 after acquiring an additional 36,444 shares in the last quarter. Prospector Partners LLC acquired a new stake in shares of KeyCorp during the 3rd quarter worth about $9,630,000. Finally, Natixis Advisors LLC raised its position in shares of KeyCorp by 17.9% during the 3rd quarter. Natixis Advisors LLC now owns 689,469 shares of the financial services provider’s stock worth $11,549,000 after acquiring an additional 104,689 shares in the last quarter. Institutional investors and hedge funds own 79.69% of the company’s stock.

KeyCorp Trading Down 0.4 %

NYSE:KEY opened at $16.70 on Wednesday. The firm has a market cap of $16.55 billion, a P/E ratio of -55.65, a PEG ratio of 0.65 and a beta of 1.26. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.77. The stock’s 50 day simple moving average is $17.47 and its 200-day simple moving average is $17.47. KeyCorp has a 12-month low of $13.10 and a 12-month high of $20.04.

KeyCorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Tuesday, March 4th will be paid a $0.205 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.91%. KeyCorp’s dividend payout ratio (DPR) is presently -273.33%.

Insider Activity at KeyCorp

In other KeyCorp news, Director Of Nova Scotia Bank purchased 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The shares were purchased at an average cost of $17.85 per share, for a total transaction of $892,500.00. Following the completion of the purchase, the director now directly owns 162,983,726 shares in the company, valued at $2,909,259,509.10. This represents a 0.03 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.67% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. reissued a “neutral” rating and set a $18.50 target price on shares of KeyCorp in a research report on Monday, February 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 report on Tuesday, November 26th. Keefe, Bruyette & Woods cut their price target on KeyCorp from $22.00 to $21.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 22nd. Piper Sandler lifted their price target on KeyCorp from $19.00 to $22.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Finally, Barclays lifted their price target on KeyCorp from $19.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, KeyCorp currently has a consensus rating of “Moderate Buy” and an average price target 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.