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

Pzena Investment Management LLC decreased its holdings in shares of KeyCorp (NYSE:KEY - Free Report) by 3.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,689,212 shares of the financial services provider's stock after selling 56,774 shares during the quarter. Pzena Investment Management LLC owned about 0.17% of KeyCorp worth $28,953,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of KEY. Capital Performance Advisors LLP bought a new stake in KeyCorp during the 3rd quarter valued at $38,000. Arrow Financial Corp raised its holdings in KeyCorp by 194.7% during the 3rd quarter. Arrow Financial Corp now owns 3,115 shares of the financial services provider's stock valued at $52,000 after acquiring an additional 2,058 shares during the period. State of New Jersey Common Pension Fund D raised its holdings in KeyCorp by 13.6% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 304,565 shares of the financial services provider's stock valued at $5,101,000 after acquiring an additional 36,444 shares during the period. Venturi Wealth Management LLC raised its holdings in KeyCorp by 62.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,526 shares of the financial services provider's stock valued at $42,000 after acquiring an additional 975 shares during the period. Finally, Apollon Wealth Management LLC raised its holdings in KeyCorp by 25.9% during the 3rd quarter. Apollon Wealth Management LLC now owns 24,645 shares of the financial services provider's stock valued at $413,000 after acquiring an additional 5,077 shares during the period. Institutional investors own 79.69% of the company's stock.

Remove Ads

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. The Goldman Sachs Group boosted their price target on shares of KeyCorp from $20.00 to $23.00 and gave the company a "buy" rating in a research report on Tuesday, November 26th. Barclays boosted their price target on shares of KeyCorp from $19.00 to $21.00 and gave the company an "equal weight" rating in a research report on Monday, January 6th. Royal Bank of Canada restated an "outperform" rating and set a $18.00 price target on shares of KeyCorp in a research report on Wednesday, January 22nd. DA Davidson reduced their price target on shares of KeyCorp from $22.00 to $21.00 and set a "buy" rating for the company in a research report on Wednesday, January 22nd. Finally, Citigroup upgraded shares of KeyCorp from a "neutral" rating to a "buy" rating and set a $20.00 price target for the company in a research report on Monday. Eight research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, KeyCorp has a consensus rating of "Moderate Buy" and an average target price of $19.75.

Insider Buying and Selling at KeyCorp

In other KeyCorp news, Director Of Nova Scotia Bank acquired 50,000 shares of the business's 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 transaction, 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 ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.61% of the stock is currently owned by corporate insiders.

KeyCorp Trading Up 2.8 %

KeyCorp stock traded up $0.42 during mid-day trading on Wednesday, hitting $15.58. The company's stock had a trading volume of 9,379,841 shares, compared to its average volume of 11,916,133. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.85 and a quick ratio of 0.84. The stock has a market cap of $17.22 billion, a price-to-earnings ratio of -51.93, a price-to-earnings-growth ratio of 0.65 and a beta of 1.26. The business has a 50 day moving average price of $17.29 and a 200-day moving average price of $17.47. KeyCorp has a 12 month low of $13.11 and a 12 month high of $20.04.

KeyCorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Tuesday, March 4th will be issued 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 yield of 5.26%. KeyCorp's dividend payout ratio is presently -273.33%.

KeyCorp 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.