AGF Management Ltd. Sells 38,357 Shares of KeyCorp (NYSE:KEY)

AGF Management Ltd. lowered its position in KeyCorp (NYSE:KEY) by 9.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 368,206 shares of the financial services provider’s stock after selling 38,357 shares during the quarter. AGF Management Ltd.’s holdings in KeyCorp were worth $6,311,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Modera Wealth Management LLC increased its stake in KeyCorp by 3.9% in the 4th quarter. Modera Wealth Management LLC now owns 16,521 shares of the financial services provider’s stock worth $283,000 after acquiring an additional 627 shares during the last quarter. Ballentine Partners LLC boosted its position in shares of KeyCorp by 5.7% during the 4th quarter. Ballentine Partners LLC now owns 12,855 shares of the financial services provider’s stock valued at $220,000 after acquiring an additional 692 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of KeyCorp by 0.4% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 175,512 shares of the financial services provider’s stock worth $3,008,000 after purchasing an additional 695 shares in the last quarter. Proactive Wealth Strategies LLC raised its stake in KeyCorp by 4.1% in the fourth quarter. Proactive Wealth Strategies LLC now owns 17,886 shares of the financial services provider’s stock valued at $307,000 after purchasing an additional 699 shares in the last quarter. Finally, Empirical Finance LLC lifted its position in KeyCorp by 2.2% during the third quarter. Empirical Finance LLC now owns 32,361 shares of the financial services provider’s stock valued at $542,000 after purchasing an additional 705 shares during the last quarter. Hedge funds and other institutional investors own 79.69% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on KEY shares. Wells Fargo & Company lifted their price objective on shares of KeyCorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. The Goldman Sachs Group upped their target price on KeyCorp from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Citigroup upgraded shares of KeyCorp from a “neutral” rating to a “buy” rating and set a $20.00 price objective for the company in a report on Monday. DA Davidson decreased their target price 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. Finally, Piper Sandler raised their price objective on KeyCorp from $19.00 to $22.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $19.75.

KeyCorp Stock Performance

Shares of KEY stock opened at $15.50 on Thursday. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.77. The stock has a fifty day moving average of $17.26 and a 200 day moving average of $17.45. The firm has a market capitalization of $17.12 billion, a price-to-earnings ratio of -51.65, a PEG ratio of 0.65 and a beta of 1.26. KeyCorp has a 52 week low of $13.11 and a 52 week high of $20.04.

KeyCorp Dividend Announcement

The business 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 dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 5.29%. The ex-dividend date is Tuesday, March 4th. KeyCorp’s payout ratio is -273.33%.

Insider Activity at KeyCorp

In related news, Director Of Nova Scotia Bank acquired 50,000 shares of the stock in a transaction on Wednesday, February 5th. The stock was acquired at an average cost of $17.85 per share, for a total transaction of $892,500.00. Following the completion of the acquisition, the director now directly owns 162,983,726 shares of the company’s stock, valued at approximately $2,909,259,509.10. This represents a 0.03 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.61% of the stock is owned by corporate insiders.

KeyCorp Company 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.