Todd Asset Management LLC Cuts Position in KeyCorp (NYSE:KEY)

Todd Asset Management LLC decreased its position in KeyCorp (NYSE:KEY) by 4.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,411,527 shares of the financial services provider’s stock after selling 69,043 shares during the quarter. Todd Asset Management LLC owned 0.14% of KeyCorp worth $24,194,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the company. Creative Planning lifted its position in shares of KeyCorp by 2.9% during the 3rd 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. Signaturefd LLC raised its stake in KeyCorp by 37.2% in the third quarter. Signaturefd LLC now owns 3,839 shares of the financial services provider’s stock valued at $64,000 after buying an additional 1,040 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in KeyCorp by 1,068.9% during the 3rd quarter. International Assets Investment Management LLC now owns 431,363 shares of the financial services provider’s stock worth $7,225,000 after buying an additional 394,460 shares during the last quarter. Ballentine Partners LLC acquired a new position in shares of KeyCorp during the 3rd quarter worth about $204,000. Finally, Lake Street Advisors Group LLC increased its holdings in shares of KeyCorp by 7.4% in the 3rd quarter. Lake Street Advisors Group LLC now owns 11,697 shares of the financial services provider’s stock valued at $196,000 after acquiring an additional 801 shares during the last quarter. Hedge funds and other institutional investors own 79.69% of the company’s stock.

KeyCorp Stock Performance

NYSE KEY opened at $16.79 on Tuesday. The stock has a market capitalization of $16.64 billion, a price-to-earnings ratio of -55.95, a PEG ratio of 0.65 and a beta of 1.26. The business’s 50 day moving average is $17.49 and its two-hundred day moving average is $17.45. KeyCorp has a 12-month low of $13.10 and a 12-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.

KeyCorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Tuesday, March 4th will be given a dividend of $0.205 per share. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $0.82 annualized dividend and a dividend yield of 4.89%. KeyCorp’s dividend payout ratio is currently -273.33%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Stephens reaffirmed an “overweight” rating and issued a $20.00 price target on shares of KeyCorp in a report on Wednesday, January 22nd. Wells Fargo & Company increased their target price on shares of KeyCorp from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Barclays boosted their price target on shares of KeyCorp from $19.00 to $21.00 and gave the company an “equal weight” rating in a research report on Monday, January 6th. Piper Sandler raised their price objective on KeyCorp from $19.00 to $22.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Finally, Citigroup downgraded KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 target price for the company. in a report on Thursday, November 7th. Nine investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.69.

Insider Buying and Selling at KeyCorp

In other news, Director Of Nova Scotia Bank purchased 50,000 shares of the firm’s stock in a transaction on Wednesday, February 5th. The shares were bought at an average cost of $17.85 per share, with a total value of $892,500.00. Following the purchase, the director now directly owns 162,983,726 shares of the company’s stock, valued at approximately $2,909,259,509.10. This trade represents a 0.03 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.67% of the stock is owned by insiders.

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.