Silverlake Wealth Management LLC Sells 703 Shares of KeyCorp (NYSE:KEY)

Silverlake Wealth Management LLC reduced its position in shares of KeyCorp (NYSE:KEY) by 6.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,267 shares of the financial services provider’s stock after selling 703 shares during the quarter. Silverlake Wealth Management LLC’s holdings in KeyCorp were worth $176,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in KEY. Azora Capital LP bought a new stake in KeyCorp during the third quarter worth $92,413,000. Assenagon Asset Management S.A. raised its position in KeyCorp by 280.3% during the third quarter. Assenagon Asset Management S.A. now owns 4,976,965 shares of the financial services provider’s stock worth $83,364,000 after acquiring an additional 3,668,168 shares in the last quarter. Thrivent Financial for Lutherans raised its position in shares of KeyCorp by 108.3% in the third quarter. Thrivent Financial for Lutherans now owns 5,852,233 shares of the financial services provider’s stock valued at $98,025,000 after purchasing an additional 3,042,060 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in shares of KeyCorp by 164.9% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,660,680 shares of the financial services provider’s stock valued at $78,066,000 after purchasing an additional 2,900,971 shares during the period. Finally, Victory Capital Management Inc. raised its position in shares of KeyCorp by 279.6% in the third quarter. Victory Capital Management Inc. now owns 3,788,173 shares of the financial services provider’s stock valued at $63,452,000 after purchasing an additional 2,790,192 shares during the period. 79.69% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on KEY. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $18.50 price objective on shares of KeyCorp in a research report on Monday. DA Davidson dropped their price objective on shares of KeyCorp from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Wednesday, January 22nd. Baird R W lowered shares of KeyCorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 14th. Truist Financial began coverage on shares of KeyCorp in a research report on Tuesday, January 7th. They issued a “hold” rating and a $19.00 price objective on the stock. Finally, UBS Group increased their price objective on shares of KeyCorp from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $19.69.

KeyCorp Trading Down 0.5 %

Shares of KeyCorp stock opened at $17.86 on Thursday. The company has a market capitalization of $17.70 billion, a price-to-earnings ratio of -59.51, a PEG ratio of 0.66 and a beta of 1.26. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.77. KeyCorp has a 12-month low of $13.10 and a 12-month high of $20.04. The firm’s 50-day moving average price is $17.81 and its two-hundred day moving average price is $17.24.

KeyCorp Dividend Announcement

The business also recently declared 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 annualized dividend and a dividend yield of 4.59%. The ex-dividend date is Tuesday, March 4th. KeyCorp’s dividend payout ratio (DPR) is presently -273.32%.

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.