Keefe, Bruyette & Woods Lowers KeyCorp (NYSE:KEY) Price Target to $21.00

KeyCorp (NYSE:KEY) had its price objective decreased by Keefe, Bruyette & Woods from $22.00 to $21.00 in a research report sent to investors on Wednesday morning,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the financial services provider’s stock.

A number of other analysts also recently issued reports on KEY. Wedbush raised their price target on shares of KeyCorp from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Tuesday, September 24th. Baird R W cut KeyCorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 14th. UBS Group upped their price target on KeyCorp from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Royal Bank of Canada raised their price objective on KeyCorp from $17.00 to $18.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. Finally, The Goldman Sachs Group upped their target price 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. Nine analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $19.58.

KeyCorp Trading Up 1.2 %

Shares of KEY opened at $17.69 on Wednesday. KeyCorp has a 12-month low of $13.10 and a 12-month high of $20.04. The firm has a 50-day moving average price of $18.06 and a 200 day moving average price of $17.07. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.85 and a quick ratio of 0.88.

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 issued a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 4.64%. The ex-dividend date is Tuesday, March 4th. KeyCorp’s payout ratio is currently -273.32%.

Insider Activity

In other news, insider Angela G. Mago sold 15,011 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $19.59, for a total transaction of $294,065.49. Following the completion of the sale, the insider now owns 234,582 shares in the company, valued at $4,595,461.38. This represents a 6.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Carlton L. Highsmith sold 9,000 shares of KeyCorp stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $17.14, for a total transaction of $154,260.00. Following the completion of the transaction, the director now owns 37,864 shares in the company, valued at approximately $648,988.96. This trade represents a 19.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.61% of the company’s stock.

Institutional Trading of KeyCorp

Hedge funds have recently made changes to their positions in the company. Tokio Marine Asset Management Co. Ltd. increased its stake in shares of KeyCorp by 13.0% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 37,104 shares of the financial services provider’s stock worth $636,000 after acquiring an additional 4,270 shares during the period. KG&L Capital Management LLC raised its stake in shares of KeyCorp by 19.7% during the 4th quarter. KG&L Capital Management LLC now owns 75,370 shares of the financial services provider’s stock worth $1,292,000 after buying an additional 12,416 shares in the last quarter. Caprock Group LLC lifted its holdings in shares of KeyCorp by 6.6% in the 4th quarter. Caprock Group LLC now owns 22,520 shares of the financial services provider’s stock valued at $386,000 after buying an additional 1,404 shares during the period. Mediolanum International Funds Ltd purchased a new stake in shares of KeyCorp in the fourth quarter valued at approximately $18,982,000. Finally, Crews Bank & Trust acquired a new position in KeyCorp during the fourth quarter worth $51,000. Institutional investors and hedge funds own 79.69% of the company’s stock.

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.