Valeo Financial Advisors LLC Decreases Stake in KeyCorp (NYSE:KEY)

Valeo Financial Advisors LLC reduced its position in shares of KeyCorp (NYSE:KEY) by 30.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 67,905 shares of the financial services provider’s stock after selling 30,295 shares during the period. Valeo Financial Advisors LLC’s holdings in KeyCorp were worth $1,164,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of KEY. Creative Planning increased its position in KeyCorp by 2.9% during the third quarter. Creative Planning now owns 142,257 shares of the financial services provider’s stock worth $2,383,000 after purchasing an additional 3,964 shares during the last quarter. Vontobel Holding Ltd. increased its position in KeyCorp by 2.1% during the third quarter. Vontobel Holding Ltd. now owns 33,728 shares of the financial services provider’s stock worth $565,000 after purchasing an additional 679 shares during the last quarter. Trust Co. of Vermont increased its position in KeyCorp by 582.3% during the third quarter. Trust Co. of Vermont now owns 2,729 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 2,329 shares during the last quarter. Kohmann Bosshard Financial Services LLC increased its position in KeyCorp by 107.2% during the third quarter. Kohmann Bosshard Financial Services LLC now owns 21,979 shares of the financial services provider’s stock worth $368,000 after purchasing an additional 11,370 shares during the last quarter. Finally, Blue Trust Inc. increased its position in KeyCorp by 63.5% during the third quarter. Blue Trust Inc. now owns 37,896 shares of the financial services provider’s stock worth $635,000 after purchasing an additional 14,725 shares during the last quarter. 79.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

KEY has been the subject of a number of recent analyst reports. Stephens reiterated an “overweight” rating and set a $20.00 price target on shares of KeyCorp in a research report on Wednesday, January 22nd. Piper Sandler lifted their price target on shares of KeyCorp from $19.00 to $22.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. The Goldman Sachs Group lifted their price target on shares of KeyCorp from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Royal Bank of Canada reiterated an “outperform” rating and set a $18.00 price target on shares of KeyCorp in a research report on Wednesday, January 22nd. Finally, DA Davidson dropped their price target on shares of KeyCorp from $22.00 to $21.00 and set a “buy” rating for the company 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 company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.69.

KeyCorp Stock Up 1.4 %

Shares of KeyCorp stock opened at $17.73 on Friday. KeyCorp has a 52-week low of $13.10 and a 52-week high of $20.04. The company has a 50 day moving average of $17.59 and a 200 day moving average of $17.31. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $17.57 billion, a P/E ratio of -59.08, a P/E/G ratio of 0.66 and a beta of 1.26.

KeyCorp Dividend Announcement

The company 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 yield of 4.63%. KeyCorp’s dividend payout ratio is currently -273.32%.

Insider Buying and Selling

In related news, Director Of Nova Scotia Bank acquired 50,000 shares of KeyCorp stock in a transaction dated Wednesday, February 5th. The stock was acquired at an average price of $17.85 per share, for a total transaction of $892,500.00. Following the transaction, the director now owns 162,983,726 shares of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.61% of the stock is owned by insiders.

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.