Amundi Cuts Stake in KeyCorp (NYSE:KEY)

Amundi reduced its stake in KeyCorp (NYSE:KEY - Free Report) by 49.6% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 2,780,759 shares of the financial services provider's stock after selling 2,735,910 shares during the quarter. Amundi owned 0.28% of KeyCorp worth $47,601,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Azora Capital LP purchased a new stake in KeyCorp during the third quarter valued at about $92,413,000. Thrivent Financial for Lutherans lifted its holdings in KeyCorp by 108.3% during 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 last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in KeyCorp by 164.9% during 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 last quarter. Victory Capital Management Inc. lifted its holdings in KeyCorp by 279.6% during 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 last quarter. Finally, Raymond James Financial Inc. purchased a new stake in KeyCorp during the fourth quarter valued at about $42,827,000. 79.69% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at KeyCorp

In other KeyCorp news, Director Of Nova Scotia Bank purchased 50,000 shares of KeyCorp stock in a transaction on Wednesday, February 5th. The shares were acquired at an average cost of $17.85 per share, for a total transaction of $892,500.00. Following the completion of the transaction, the director now directly owns 162,983,726 shares of the company's stock, valued at approximately $2,909,259,509.10. The trade was a 0.03 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.61% of the company's stock.

KeyCorp Stock Up 2.2 %

KEY stock opened at $15.50 on Thursday. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.77. The company's 50 day moving average is $17.26 and its 200 day moving average is $17.45. The stock 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 has a 1-year low of $13.11 and a 1-year high of $20.04.

KeyCorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th will be given a dividend of $0.205 per share. 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 payout ratio is currently -273.33%.

Analysts Set New Price Targets

KEY has been the topic of several recent research reports. Citigroup raised shares of KeyCorp from a "neutral" rating to a "buy" rating and set a $20.00 price objective on the stock in a report on Monday. Wells Fargo & Company upped their price objective on shares of KeyCorp from $20.00 to $22.00 and gave the company an "overweight" rating in a report on Friday, November 15th. Morgan Stanley dropped their price objective on shares of KeyCorp from $23.00 to $22.00 and set an "equal weight" rating on the stock in a report on Wednesday, January 22nd. Royal Bank of Canada reissued an "outperform" rating and issued a $18.00 price target on shares of KeyCorp in a report on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. reissued a "neutral" rating and issued a $18.50 price target on shares of KeyCorp in a report on Monday, February 3rd. Eight research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $19.75.

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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.

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