Amundi Sells 2,735,910 Shares of KeyCorp (NYSE:KEY)

Amundi decreased its position in KeyCorp (NYSE:KEY) by 49.6% during the 4th quarter, Holdings Channel reports. The firm owned 2,780,759 shares of the financial services provider’s stock after selling 2,735,910 shares during the period. Amundi’s holdings in KeyCorp were worth $47,601,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in KEY. Venturi Wealth Management LLC grew its holdings 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 purchasing an additional 975 shares during the last quarter. Apollon Wealth Management LLC grew its holdings in shares of KeyCorp by 25.9% in the third quarter. Apollon Wealth Management LLC now owns 24,645 shares of the financial services provider’s stock worth $413,000 after purchasing an additional 5,077 shares during the last quarter. Entropy Technologies LP bought a new position in shares of KeyCorp in the third quarter worth approximately $765,000. Victory Capital Management Inc. grew its holdings 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 worth $63,452,000 after purchasing an additional 2,790,192 shares during the last quarter. Finally, Huntington National Bank grew its holdings in shares of KeyCorp by 1.2% in the third quarter. Huntington National Bank now owns 82,537 shares of the financial services provider’s stock worth $1,383,000 after purchasing an additional 958 shares during the last quarter. Institutional investors own 79.69% of the company’s stock.

Insiders Place Their Bets

In other KeyCorp news, Director Of Nova Scotia Bank purchased 50,000 shares of KeyCorp stock in a transaction dated Wednesday, February 5th. The stock was purchased at an average price of $17.85 per share, with a total value of $892,500.00. Following the transaction, the director now directly owns 162,983,726 shares of the company’s stock, valued at $2,909,259,509.10. This trade represents a 0.03 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.61% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts recently commented on the company. Barclays raised their price target on KeyCorp from $19.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. Piper Sandler raised their price target on KeyCorp from $19.00 to $22.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Citigroup raised KeyCorp from a “neutral” rating to a “buy” rating and set a $20.00 price target for the company in a research note on Monday. Wells Fargo & Company raised their price target on KeyCorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Finally, Keefe, Bruyette & Woods dropped their price target on KeyCorp from $22.00 to $21.00 and set an “outperform” rating for the company in a research note on Wednesday, January 22nd. Eight analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $19.75.

KeyCorp Price Performance

Shares of NYSE:KEY opened at $15.50 on Thursday. KeyCorp has a fifty-two week low of $13.11 and a fifty-two week high of $20.04. The business has a 50-day simple moving average of $17.26 and a two-hundred day simple moving average of $17.45. 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 firm has a market cap of $17.12 billion, a price-to-earnings ratio of -51.65, a price-to-earnings-growth ratio of 0.65 and a beta of 1.26.

KeyCorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th will be given a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 5.29%. The ex-dividend date is Tuesday, March 4th. KeyCorp’s dividend payout ratio (DPR) is -273.33%.

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.