KeyCorp (NYSE:KEY) Stake Trimmed by Fulton Bank N.A.

Fulton Bank N.A. lessened its holdings in shares of KeyCorp (NYSE:KEY) by 8.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,146 shares of the financial services provider’s stock after selling 1,427 shares during the quarter. Fulton Bank N.A.’s holdings in KeyCorp were worth $260,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. grew its stake in KeyCorp by 14.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 657,913 shares of the financial services provider’s stock valued at $10,928,000 after acquiring an additional 85,052 shares in the last quarter. MBB Public Markets I LLC purchased a new position in KeyCorp during the 2nd quarter valued at about $981,000. Dai ichi Life Insurance Company Ltd purchased a new position in KeyCorp during the 3rd quarter valued at about $798,000. Prospector Partners LLC purchased a new position in KeyCorp during the 3rd quarter valued at about $9,630,000. Finally, Natixis Advisors LLC grew its stake in KeyCorp by 17.9% during the 3rd quarter. Natixis Advisors LLC now owns 689,469 shares of the financial services provider’s stock valued at $11,549,000 after acquiring an additional 104,689 shares in the last quarter. Hedge funds and other institutional investors own 79.69% of the company’s stock.

Insider Activity

In other 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 sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Carlton L. Highsmith sold 9,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $17.14, for a total value of $154,260.00. Following the sale, the director now owns 37,864 shares in the company, valued at approximately $648,988.96. This represents a 19.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on KEY shares. Baird R W cut KeyCorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 14th. The Goldman Sachs Group lifted their price target on KeyCorp from $20.00 to $23.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Barclays lifted their price target on KeyCorp from $19.00 to $21.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Truist Financial started coverage on KeyCorp in a report on Tuesday. They set a “hold” rating and a $19.00 price target for the company. Finally, Robert W. Baird lowered KeyCorp from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $18.00 to $17.00 in a report on Monday, October 14th. Nine equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, KeyCorp currently has an average rating of “Moderate Buy” and a consensus target price of $19.44.

KeyCorp Stock Down 2.3 %

Shares of KEY stock opened at $16.72 on Friday. KeyCorp has a 12 month low of $12.94 and a 12 month high of $20.04. The firm has a market cap of $16.57 billion, a PE ratio of 1,672.00, a price-to-earnings-growth ratio of 1.00 and a beta of 1.27. The stock has a 50 day moving average of $18.25 and a 200-day moving average of $16.83. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.09.

KeyCorp (NYSE:KEY) last issued its quarterly earnings results on Thursday, October 17th. The financial services provider reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.03. The company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.59 billion. KeyCorp had a return on equity of 8.24% and a net margin of 0.76%. On average, equities analysts predict that KeyCorp will post 1.09 EPS for the current year.

KeyCorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Tuesday, December 3rd were given a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.90%. The ex-dividend date was Tuesday, December 3rd. KeyCorp’s dividend payout ratio is presently 8,200.00%.

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.