Pzena Investment Management LLC Sells 56,774 Shares of KeyCorp (NYSE:KEY)

Pzena Investment Management LLC decreased its holdings in KeyCorp (NYSE:KEY) by 3.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,689,212 shares of the financial services provider’s stock after selling 56,774 shares during the period. Pzena Investment Management LLC owned 0.17% of KeyCorp worth $28,953,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Ethos Financial Group LLC bought a new position in shares of KeyCorp in the fourth quarter worth about $27,000. Larson Financial Group LLC boosted its stake in shares of KeyCorp by 90.8% in the third quarter. Larson Financial Group LLC now owns 1,929 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 918 shares during the period. SBI Securities Co. Ltd. purchased a new stake in shares of KeyCorp in the fourth quarter worth about $34,000. Capital Performance Advisors LLP purchased a new stake in shares of KeyCorp in the third quarter worth about $38,000. Finally, Venturi Wealth Management LLC lifted its position in shares of KeyCorp by 62.9% in the third quarter. Venturi Wealth Management LLC now owns 2,526 shares of the financial services provider’s stock worth $42,000 after buying an additional 975 shares in the last quarter. Institutional investors own 79.69% of the company’s stock.

KeyCorp Trading Down 3.7 %

Shares of NYSE KEY opened at $15.15 on Tuesday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.84 and a current ratio of 0.85. The business’s 50 day moving average price is $17.33 and its 200-day moving average price is $17.48. KeyCorp has a fifty-two week low of $13.11 and a fifty-two week high of $20.04. The company has a market cap of $16.74 billion, a price-to-earnings ratio of -50.48, a PEG ratio of 0.65 and a beta of 1.26.

KeyCorp Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Tuesday, March 4th. This represents a $0.82 annualized dividend and a dividend yield of 5.41%. KeyCorp’s payout ratio is -273.33%.

Insider Transactions at KeyCorp

In other KeyCorp news, Director Of Nova Scotia Bank purchased 50,000 shares of KeyCorp stock in a transaction dated Wednesday, February 5th. The shares were purchased 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 owns 162,983,726 shares in the company, valued at $2,909,259,509.10. This represents a 0.03 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

KEY has been the topic of a number of research analyst reports. Morgan Stanley decreased their target price on KeyCorp from $23.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 22nd. The Goldman Sachs Group boosted their target price on KeyCorp from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Citigroup upgraded KeyCorp from a “neutral” rating to a “buy” rating and set a $20.00 target price on the stock in a research report on Monday. Royal Bank of Canada reiterated an “outperform” rating and issued a $18.00 target price on shares of KeyCorp in a research report on Wednesday, January 22nd. Finally, Keefe, Bruyette & Woods decreased their target price on KeyCorp from $22.00 to $21.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 22nd. Eight analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, KeyCorp has a consensus rating of “Moderate Buy” and an average price target of $19.75.

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.