Cidel Asset Management Inc. Sells 983 Shares of KeyCorp (NYSE:KEY)

Cidel Asset Management Inc. trimmed its stake in shares of KeyCorp (NYSE:KEY) by 8.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 10,765 shares of the financial services provider’s stock after selling 983 shares during the quarter. Cidel Asset Management Inc.’s holdings in KeyCorp were worth $185,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in KEY. Financial Advocates Investment Management increased its position in shares of KeyCorp by 2.3% during the third quarter. Financial Advocates Investment Management now owns 26,872 shares of the financial services provider’s stock valued at $450,000 after buying an additional 602 shares during the period. HM Payson & Co. grew its stake in KeyCorp by 27.0% during the third quarter. HM Payson & Co. now owns 3,060 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 650 shares in the last quarter. Graypoint LLC increased its holdings in KeyCorp by 4.7% during the 3rd quarter. Graypoint LLC now owns 14,954 shares of the financial services provider’s stock worth $250,000 after acquiring an additional 675 shares during the period. Vontobel Holding Ltd. lifted its stake in KeyCorp by 2.1% in the 3rd quarter. Vontobel Holding Ltd. now owns 33,728 shares of the financial services provider’s stock worth $565,000 after purchasing an additional 679 shares in the last quarter. Finally, Ballentine Partners LLC boosted its holdings in KeyCorp by 5.7% in the 4th quarter. Ballentine Partners LLC now owns 12,855 shares of the financial services provider’s stock valued at $220,000 after purchasing an additional 692 shares during the period. Hedge funds and other institutional investors own 79.69% of the company’s stock.

KeyCorp Trading Down 0.6 %

Shares of KEY stock opened at $17.84 on Monday. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.85 and a quick ratio of 0.84. The business has a 50-day moving average of $17.71 and a 200 day moving average of $17.27. The stock has a market capitalization of $17.68 billion, a PE ratio of -59.46, a P/E/G ratio of 0.66 and a beta of 1.26. KeyCorp has a 1-year low of $13.10 and a 1-year high of $20.04.

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 paid a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 4.60%. The ex-dividend date is Tuesday, March 4th. KeyCorp’s payout ratio is -273.32%.

Insider Activity at KeyCorp

In other KeyCorp news, Director Of Nova Scotia Bank purchased 50,000 shares of KeyCorp stock in a transaction that occurred on Wednesday, February 5th. The shares were bought at an average price of $17.85 per share, for a total transaction of $892,500.00. Following the acquisition, the director now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.61% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on KEY. Piper Sandler increased their price objective on KeyCorp from $19.00 to $22.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Baird R W cut KeyCorp from a “strong-buy” rating to a “hold” rating in a report on Monday, October 14th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $18.50 price objective on shares of KeyCorp in a report on Monday, February 3rd. The Goldman Sachs Group raised their target price on shares of KeyCorp from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Finally, Wells Fargo & Company boosted their price target on shares of KeyCorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $19.69.

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.