Connable Office Inc. Has $629,000 Stake in KeyCorp (NYSE:KEY)

Connable Office Inc. lifted its position in shares of KeyCorp (NYSE:KEY) by 3.4% during the 4th quarter, HoldingsChannel reports. The fund owned 36,712 shares of the financial services provider’s stock after purchasing an additional 1,209 shares during the period. Connable Office Inc.’s holdings in KeyCorp were worth $629,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. American Capital Advisory LLC acquired a new position in KeyCorp during the 3rd quarter worth about $28,000. Larson Financial Group LLC lifted its holdings in KeyCorp by 90.8% during the 3rd quarter. Larson Financial Group LLC now owns 1,929 shares of the financial services provider’s stock worth $32,000 after buying an additional 918 shares during the period. Catalyst Capital Advisors LLC acquired a new position in KeyCorp during the 3rd quarter worth about $35,000. Capital Performance Advisors LLP acquired a new position in KeyCorp during the 3rd quarter worth about $38,000. Finally, Venturi Wealth Management LLC lifted its holdings in KeyCorp by 62.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,526 shares of the financial services provider’s stock worth $42,000 after buying an additional 975 shares during the period. Institutional investors and hedge funds own 79.69% of the company’s stock.

Insider Transactions at KeyCorp

In other news, Director Of Nova Scotia Bank acquired 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The shares were acquired at an average price of $17.85 per share, for a total transaction of $892,500.00. Following the completion of the purchase, the director now owns 162,983,726 shares in the company, valued at approximately $2,909,259,509.10. This trade represents a 0.03 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.61% of the company’s stock.

KeyCorp Stock Performance

Shares of KEY opened at $17.33 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.84 and a current ratio of 0.85. The stock has a 50 day moving average price of $17.48 and a two-hundred day moving average price of $17.47. The firm has a market capitalization of $19.15 billion, a P/E ratio of -57.76, a P/E/G ratio of 0.65 and a beta of 1.26. KeyCorp has a 52 week low of $13.10 and a 52 week high of $20.04.

KeyCorp Announces Dividend

The firm also recently announced 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 4.73%. KeyCorp’s payout ratio is presently -273.33%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on KEY shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $18.00 target price on shares of KeyCorp in a report on Wednesday, January 22nd. DA Davidson dropped their price objective on KeyCorp from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Wednesday, January 22nd. Citigroup downgraded KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 price objective on the stock. in a research note on Thursday, November 7th. The Goldman Sachs Group boosted their price objective on KeyCorp from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Finally, Barclays boosted their price objective on KeyCorp from $19.00 to $21.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock 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.