Octavia Wealth Advisors LLC Reduces Stake in KeyCorp (NYSE:KEY)

Octavia Wealth Advisors LLC lessened its stake in KeyCorp (NYSE:KEY - Free Report) by 58.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 12,877 shares of the financial services provider's stock after selling 17,920 shares during the quarter. Octavia Wealth Advisors LLC's holdings in KeyCorp were worth $221,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in KEY. Wolff Wiese Magana LLC boosted its holdings in shares of KeyCorp by 285.5% during the 3rd 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 last quarter. American Capital Advisory LLC purchased a new position in KeyCorp during the third quarter worth approximately $28,000. Larson Financial Group LLC boosted its stake in KeyCorp by 90.8% during the third quarter. Larson Financial Group LLC now owns 1,929 shares of the financial services provider's stock worth $32,000 after buying an additional 918 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new stake in KeyCorp in the 3rd quarter valued at $35,000. Finally, Capital Performance Advisors LLP acquired a new stake in shares of KeyCorp in the 3rd quarter worth $38,000. 79.69% of the stock is currently owned by institutional investors and hedge funds.

KeyCorp Stock Up 1.0 %

Shares of NYSE:KEY traded up $0.17 during trading hours on Thursday, reaching $17.47. The stock had a trading volume of 7,337,365 shares, compared to its average volume of 13,686,852. KeyCorp has a 1 year low of $13.10 and a 1 year high of $20.04. The firm's 50 day moving average is $18.10 and its 200-day moving average is $17.06. The stock has a market capitalization of $17.32 billion, a price-to-earnings ratio of -58.24, a P/E/G ratio of 0.67 and a beta of 1.27. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.88 and a current ratio of 0.88.

KeyCorp Announces Dividend

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 paid a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 4.69%. The ex-dividend date is Tuesday, March 4th. KeyCorp's dividend payout ratio is presently -273.32%.

Insiders Place Their Bets

In related news, insider Angela G. Mago sold 15,011 shares of the company's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $19.59, for a total value of $294,065.49. Following the completion of the transaction, the insider now directly owns 234,582 shares of the company's stock, valued at $4,595,461.38. This represents a 6.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Carlton L. Highsmith sold 9,000 shares of the firm's stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $17.14, for a total transaction of $154,260.00. Following the sale, the director now directly owns 37,864 shares in the company, valued at approximately $648,988.96. The trade was a 19.20 % decrease in their position. The disclosure for this sale can be found here. 0.61% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Barclays upped their price objective on shares of KeyCorp from $19.00 to $21.00 and gave the company an "equal weight" rating in a report on Monday, January 6th. Citigroup downgraded shares of KeyCorp from a "buy" rating to a "neutral" rating and set a $19.00 price target for the company. in a report on Thursday, November 7th. Royal Bank of Canada reiterated an "outperform" rating and issued a $18.00 price objective on shares of KeyCorp in a report on Wednesday. Keefe, Bruyette & Woods reduced 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. Finally, The Goldman Sachs Group increased their price target on KeyCorp from $20.00 to $23.00 and gave the stock a "buy" rating in a report on Tuesday, November 26th. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $19.58.

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.