Beam Wealth Advisors Inc. Decreases Stock Position in KeyCorp (NYSE:KEY)

Beam Wealth Advisors Inc. lessened its position in KeyCorp (NYSE:KEY) by 9.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,596 shares of the financial services provider’s stock after selling 2,274 shares during the quarter. Beam Wealth Advisors Inc.’s holdings in KeyCorp were worth $370,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ethos Financial Group LLC purchased a new position in shares of KeyCorp in the fourth quarter valued at approximately $27,000. Larson Financial Group LLC lifted its position in shares of KeyCorp by 90.8% in the third quarter. Larson Financial Group LLC now owns 1,929 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 918 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of KeyCorp in the fourth quarter valued at approximately $34,000. Catalyst Capital Advisors LLC purchased a new position in shares of KeyCorp in the third quarter valued at approximately $35,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of KeyCorp in the third quarter valued at approximately $38,000. Hedge funds and other institutional investors own 79.69% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Wells Fargo & Company increased their price target on KeyCorp from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Keefe, Bruyette & Woods cut their price target on KeyCorp from $22.00 to $21.00 and set an “outperform” rating for the company in a report on Wednesday, January 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $18.00 price target on shares of KeyCorp in a report on Wednesday, January 22nd. DA Davidson cut their price target on KeyCorp from $22.00 to $21.00 and set a “buy” rating for the company in a report on Wednesday, January 22nd. Finally, Stephens reaffirmed an “overweight” rating and issued a $20.00 price target on shares of KeyCorp in a report on Wednesday, January 22nd. Nine equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $19.69.

Insider Activity

In other news, Director Of Nova Scotia Bank acquired 50,000 shares of the company’s stock in a transaction dated Wednesday, February 5th. The stock was acquired at an average cost of $17.85 per share, with a total value of $892,500.00. Following the completion of the purchase, 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 position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.61% of the company’s stock.

KeyCorp Trading Down 2.1 %

Shares of NYSE KEY opened at $15.93 on Friday. KeyCorp has a twelve month low of $13.11 and a twelve month high of $20.04. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.77. The stock has a fifty day simple moving average of $17.40 and a 200-day simple moving average of $17.48. The stock has a market capitalization of $17.60 billion, a PE ratio of -53.08, a PEG ratio of 0.65 and a beta of 1.26.

KeyCorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th will be paid a $0.205 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 5.15%. KeyCorp’s payout ratio is presently -273.33%.

About KeyCorp

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.