abrdn plc Sells 30,848 Shares of KeyCorp (NYSE:KEY)

abrdn plc cut its position in shares of KeyCorp (NYSE:KEY) by 8.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 320,789 shares of the financial services provider’s stock after selling 30,848 shares during the quarter. abrdn plc’s holdings in KeyCorp were worth $5,516,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wolff Wiese Magana LLC lifted its holdings in shares of KeyCorp by 285.5% during the 3rd quarter. Wolff Wiese Magana LLC now owns 1,542 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 1,142 shares during the period. American Capital Advisory LLC acquired a new position in KeyCorp in the third quarter worth about $28,000. Larson Financial Group LLC lifted its stake in KeyCorp by 90.8% during the third quarter. Larson Financial Group LLC now owns 1,929 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 918 shares during the period. Catalyst Capital Advisors LLC acquired a new stake in KeyCorp during the third quarter valued at approximately $35,000. Finally, Capital Performance Advisors LLP bought a new stake in shares of KeyCorp in the 3rd quarter valued at approximately $38,000. 79.69% of the stock is currently owned by institutional investors.

Insider Buying and Selling at KeyCorp

In other KeyCorp news, Director Of Nova Scotia Bank bought 50,000 shares of the stock in a transaction on Wednesday, February 5th. The stock was purchased at an average price of $17.85 per share, with a total value of $892,500.00. Following the acquisition, the director now owns 162,983,726 shares of the company’s stock, valued at approximately $2,909,259,509.10. The trade was a 0.03 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.61% of the company’s stock.

KeyCorp Stock Down 0.6 %

NYSE KEY opened at $17.84 on Monday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.84 and a current ratio of 0.85. KeyCorp has a 52 week low of $13.10 and a 52 week high of $20.04. The stock has a market capitalization of $17.68 billion, a P/E ratio of -59.46, a price-to-earnings-growth ratio of 0.66 and a beta of 1.26. The stock has a fifty day moving average of $17.71 and a 200-day moving average of $17.27.

KeyCorp Dividend Announcement

The company also recently disclosed 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 annualized dividend and a yield of 4.60%. KeyCorp’s dividend payout ratio is currently -273.32%.

Wall Street Analyst Weigh In

Several research firms recently commented on KEY. Keefe, Bruyette & Woods cut their target price on KeyCorp from $22.00 to $21.00 and set an “outperform” rating for the company in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. reissued a “neutral” rating and set a $18.50 price objective on shares of KeyCorp in a report on Monday, February 3rd. Truist Financial assumed coverage on shares of KeyCorp in a report on Tuesday, January 7th. They issued a “hold” rating and a $19.00 target price on the stock. Baird R W downgraded shares of KeyCorp from a “strong-buy” rating to a “hold” rating in a report on Monday, October 14th. Finally, Stephens restated an “overweight” rating and issued a $20.00 price target on shares of KeyCorp in a research report on Wednesday, January 22nd. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, KeyCorp currently has an average rating of “Moderate Buy” and a consensus target price of $19.69.

KeyCorp 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.