KeyCorp (NYSE:KEY) Shares Sold by Chesley Taft & Associates LLC

Chesley Taft & Associates LLC cut its position in KeyCorp (NYSE:KEY) by 3.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,917 shares of the financial services provider’s stock after selling 1,500 shares during the period. Chesley Taft & Associates LLC’s holdings in KeyCorp were worth $838,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Ballentine Partners LLC boosted its stake in KeyCorp by 5.7% during the 4th quarter. Ballentine Partners LLC now owns 12,855 shares of the financial services provider’s stock worth $220,000 after purchasing an additional 692 shares during the last quarter. HB Wealth Management LLC lifted its stake in shares of KeyCorp by 4.6% in the fourth quarter. HB Wealth Management LLC now owns 37,961 shares of the financial services provider’s stock worth $651,000 after buying an additional 1,659 shares in the last quarter. Brooklyn Investment Group boosted its position in KeyCorp by 20.9% during the fourth quarter. Brooklyn Investment Group now owns 5,814 shares of the financial services provider’s stock worth $100,000 after acquiring an additional 1,006 shares during the last quarter. Merit Financial Group LLC grew its stake in KeyCorp by 153.7% during the 4th quarter. Merit Financial Group LLC now owns 58,407 shares of the financial services provider’s stock valued at $1,001,000 after acquiring an additional 35,385 shares in the last quarter. Finally, Avanza Fonder AB acquired a new stake in KeyCorp in the 4th quarter valued at about $1,618,000. 79.69% of the stock is currently owned by hedge funds and other institutional investors.

KeyCorp Trading Down 3.4 %

KEY opened at $17.68 on Wednesday. KeyCorp has a 52 week low of $13.10 and a 52 week high of $20.04. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.09. The business has a fifty day simple moving average of $18.16 and a 200-day simple moving average of $17.04. The firm has a market cap of $17.52 billion, a P/E ratio of 1,767.50, a P/E/G ratio of 0.69 and a beta of 1.27.

KeyCorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Tuesday, March 4th will be issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 4.64%. The ex-dividend date of this dividend is Tuesday, March 4th. KeyCorp’s dividend payout ratio (DPR) is 8,200.00%.

Insider Buying and Selling at KeyCorp

In other news, insider Angela G. Mago sold 15,011 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $19.59, for a total value of $294,065.49. Following the completion of the transaction, the insider now owns 234,582 shares of the company’s stock, valued at approximately $4,595,461.38. This trade represents a 6.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Carlton L. Highsmith sold 9,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $17.14, for a total transaction of $154,260.00. Following the sale, the director now directly owns 37,864 shares in the company, valued at approximately $648,988.96. The trade was a 19.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.67% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

KEY has been the subject of a number of analyst reports. Wells Fargo & Company upped their price target on KeyCorp from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Truist Financial initiated coverage on KeyCorp in a report on Tuesday, January 7th. They issued a “hold” rating and a $19.00 target price for the company. DA Davidson lifted their price target on KeyCorp from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Keefe, Bruyette & Woods upped their price objective on shares of KeyCorp from $19.00 to $22.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Finally, Evercore ISI lifted their target price on shares of KeyCorp from $18.50 to $20.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Nine analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $19.44.

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.