LGT Capital Partners LTD. Sells 1,054,080 Shares of KeyCorp (NYSE:KEY)

LGT Capital Partners LTD. lessened its stake in KeyCorp (NYSE:KEY) by 77.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 315,510 shares of the financial services provider’s stock after selling 1,054,080 shares during the quarter. LGT Capital Partners LTD.’s holdings in KeyCorp were worth $4,543,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bruce G. Allen Investments LLC acquired a new stake in shares of KeyCorp in the fourth quarter valued at about $26,000. Sound Income Strategies LLC increased its holdings in KeyCorp by 3,600.0% during the fourth quarter. Sound Income Strategies LLC now owns 1,887 shares of the financial services provider’s stock worth $27,000 after buying an additional 1,836 shares during the last quarter. Cary Street Partners Investment Advisory LLC acquired a new stake in KeyCorp in the third quarter valued at $28,000. Baldwin Brothers LLC MA acquired a new position in shares of KeyCorp during the 4th quarter worth about $35,000. Finally, Point72 Asset Management L.P. bought a new stake in shares of KeyCorp in the 2nd quarter valued at about $37,000. Institutional investors own 79.69% of the company’s stock.

KeyCorp Price Performance

NYSE KEY opened at $15.80 on Friday. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.86 and a current ratio of 0.86. The company has a market capitalization of $14.65 billion, a price-to-earnings ratio of 17.75 and a beta of 1.27. The stock has a 50-day moving average of $14.43 and a 200 day moving average of $12.92. KeyCorp has a one year low of $8.53 and a one year high of $15.86.

KeyCorp (NYSE:KEY) last released its earnings results on Thursday, January 18th. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.02. KeyCorp had a net margin of 8.61% and a return on equity of 10.63%. The company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same period in the prior year, the firm posted $0.38 EPS. On average, sell-side analysts forecast that KeyCorp will post 1.18 EPS for the current year.

KeyCorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, February 27th were paid a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 5.19%. The ex-dividend date was Monday, February 26th. KeyCorp’s dividend payout ratio is currently 92.13%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on KEY shares. Barclays cut their price objective on KeyCorp from $17.00 to $16.00 and set an “equal weight” rating for the company in a research report on Friday, January 19th. Wedbush reduced their price objective on KeyCorp from $16.00 to $14.00 and set a “neutral” rating for the company in a report on Friday, January 19th. Jefferies Financial Group raised KeyCorp from a “hold” rating to a “buy” rating and upped their price objective for the company from $10.00 to $17.00 in a report on Tuesday, January 9th. Piper Sandler raised their price target on shares of KeyCorp from $16.00 to $17.00 and gave the stock an “overweight” rating in a research report on Friday, January 26th. Finally, Stephens raised KeyCorp from an “equal weight” rating to an “overweight” rating in a report on Wednesday, December 20th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $15.00.

Insiders Place Their Bets

In other news, insider Kenneth C. Gavrity sold 2,376 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $14.03, for a total transaction of $33,335.28. Following the transaction, the insider now owns 98,120 shares in the company, valued at $1,376,623.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other KeyCorp news, insider Angela G. Mago sold 3,405 shares of KeyCorp stock in a transaction on Monday, February 12th. The shares were sold at an average price of $14.24, for a total value of $48,487.20. Following the transaction, the insider now directly owns 214,630 shares of the company’s stock, valued at $3,056,331.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kenneth C. Gavrity sold 2,376 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $14.03, for a total value of $33,335.28. Following the sale, the insider now owns 98,120 shares of the company’s stock, valued at approximately $1,376,623.60. The disclosure for this sale can be found here. Insiders have sold a total of 21,442 shares of company stock worth $303,914 over the last quarter. Company insiders own 0.61% of the company’s stock.

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.