Fifth Third Bancorp Decreases Stock Holdings in KeyCorp (NYSE:KEY)

Fifth Third Bancorp cut its position in KeyCorp (NYSE:KEY - Free Report) by 47.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 147,433 shares of the financial services provider's stock after selling 133,585 shares during the quarter. Fifth Third Bancorp's holdings in KeyCorp were worth $2,527,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in KEY. Wolff Wiese Magana LLC boosted its position in KeyCorp by 285.5% during the third quarter. Wolff Wiese Magana LLC now owns 1,542 shares of the financial services provider's stock worth $26,000 after purchasing an additional 1,142 shares during the period. American Capital Advisory LLC bought a new stake in shares of KeyCorp during the third quarter worth approximately $28,000. Larson Financial Group LLC grew its position 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 valued at $32,000 after purchasing an additional 918 shares during the last quarter. Catalyst Capital Advisors LLC bought a new position in shares of KeyCorp during the third quarter worth approximately $35,000. Finally, Capital Performance Advisors LLP acquired a new stake in KeyCorp during the 3rd quarter worth approximately $38,000. 79.69% of the stock is currently owned by institutional investors and hedge funds.

KeyCorp Stock Down 0.1 %

Shares of KEY traded down $0.02 during trading hours on Tuesday, reaching $17.65. 13,398,252 shares of the stock traded hands, compared to its average volume of 13,912,221. KeyCorp has a 52 week low of $13.10 and a 52 week high of $20.04. The stock has a fifty day simple moving average of $18.00 and a 200 day simple moving average of $17.15. The company has a current ratio of 0.85, a quick ratio of 0.88 and a debt-to-equity ratio of 0.77. The company has a market cap of $17.49 billion, a price-to-earnings ratio of -58.81, a PEG ratio of 0.65 and a beta of 1.27.

KeyCorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Tuesday, March 4th will be paid a dividend of $0.205 per share. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.65%. KeyCorp's payout ratio is -273.32%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Truist Financial began coverage on KeyCorp in a report on Tuesday, January 7th. They set a "hold" rating and a $19.00 target price for the company. UBS Group lifted their price target on shares of KeyCorp from $17.00 to $18.00 and gave the company a "neutral" rating in a research report on Wednesday, October 23rd. Wells Fargo & Company raised their price objective on KeyCorp from $20.00 to $22.00 and gave the stock an "overweight" rating in a research note on Friday, November 15th. Evercore ISI upped their target price on KeyCorp from $18.50 to $20.00 and gave the company an "outperform" rating in a research report on Wednesday, October 2nd. Finally, The Goldman Sachs Group boosted their price target on KeyCorp from $20.00 to $23.00 and gave the company a "buy" rating in a research note on Tuesday, November 26th. Nine analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $19.58.

Insiders Place Their Bets

In other news, insider Angela G. Mago sold 15,011 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $19.59, for a total value of $294,065.49. Following the transaction, the insider now owns 234,582 shares of the company's stock, valued at $4,595,461.38. This represents a 6.01 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Carlton L. Highsmith sold 9,000 shares of KeyCorp stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $17.14, for a total value of $154,260.00. Following the sale, the director now directly owns 37,864 shares of the company's stock, valued at approximately $648,988.96. This trade represents a 19.20 % decrease in their position. The disclosure for this sale can be found here. 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.