Bank of New York Mellon Corp Sells 43,915 Shares of KeyCorp (NYSE:KEY)

Bank of New York Mellon Corp decreased its position in KeyCorp (NYSE:KEY) by 0.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 5,539,525 shares of the financial services provider’s stock after selling 43,915 shares during the quarter. Bank of New York Mellon Corp’s holdings in KeyCorp were worth $94,947,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in KEY. American Capital Advisory LLC bought a new stake in shares of KeyCorp in the 3rd quarter worth $28,000. Larson Financial Group LLC grew its stake in shares of KeyCorp by 90.8% in the 3rd quarter. Larson Financial Group LLC now owns 1,929 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 918 shares in the last quarter. Catalyst Capital Advisors LLC bought a new stake in shares of KeyCorp in the 3rd quarter worth $35,000. Capital Performance Advisors LLP bought a new stake in shares of KeyCorp in the 3rd quarter worth $38,000. Finally, Venturi Wealth Management LLC grew its stake in shares of KeyCorp by 62.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,526 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 975 shares in the last quarter. Institutional investors own 79.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on KEY shares. Keefe, Bruyette & Woods reduced their target price 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. Barclays boosted their target price on shares of KeyCorp from $19.00 to $21.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Stephens restated an “overweight” rating and set a $20.00 price target on shares of KeyCorp in a research note on Wednesday, January 22nd. Morgan Stanley dropped their price objective on KeyCorp from $23.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 22nd. Finally, Wells Fargo & Company raised their target price on KeyCorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Nine investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $19.69.

KeyCorp Trading Up 2.1 %

Shares of KEY stock opened at $17.33 on Monday. The company’s fifty day simple moving average is $17.48 and its two-hundred day simple moving average is $17.50. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.85 and a quick ratio of 0.84. KeyCorp has a 1 year low of $13.10 and a 1 year high of $20.04. The stock has a market capitalization of $19.15 billion, a price-to-earnings ratio of -57.76, a PEG ratio of 0.65 and a beta of 1.26.

KeyCorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th will be issued a dividend of $0.205 per share. The ex-dividend date is Tuesday, March 4th. This represents a $0.82 dividend on an annualized basis and a yield of 4.73%. KeyCorp’s payout ratio is -273.33%.

Insider Buying and Selling at KeyCorp

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

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.