KeyCorp (NYSE:KEY) Shares Sold by Salzhauer Michael

Salzhauer Michael cut its stake in shares of KeyCorp (NYSE:KEY - Free Report) by 42.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 74,848 shares of the financial services provider's stock after selling 55,500 shares during the quarter. Salzhauer Michael's holdings in KeyCorp were worth $1,283,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Financial Advocates Investment Management raised its holdings in shares of KeyCorp by 2.3% during the 3rd quarter. Financial Advocates Investment Management now owns 26,872 shares of the financial services provider's stock worth $450,000 after acquiring an additional 602 shares in the last quarter. HM Payson & Co. increased its stake in KeyCorp by 27.0% in the third quarter. HM Payson & Co. now owns 3,060 shares of the financial services provider's stock worth $51,000 after purchasing an additional 650 shares during the period. Graypoint LLC increased its stake in KeyCorp by 4.7% in the third quarter. Graypoint LLC now owns 14,954 shares of the financial services provider's stock worth $250,000 after purchasing an additional 675 shares during the period. Vontobel Holding Ltd. increased its stake in KeyCorp by 2.1% in the third quarter. Vontobel Holding Ltd. now owns 33,728 shares of the financial services provider's stock worth $565,000 after purchasing an additional 679 shares during the period. Finally, Ballentine Partners LLC increased its stake in KeyCorp by 5.7% in the fourth quarter. Ballentine Partners LLC now owns 12,855 shares of the financial services provider's stock worth $220,000 after purchasing an additional 692 shares during the period. 79.69% of the stock is currently owned by institutional investors.

KeyCorp Price Performance

KEY traded down $0.13 during trading on Thursday, hitting $17.48. The company's stock had a trading volume of 10,490,162 shares, compared to its average volume of 13,102,512. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.77. KeyCorp has a twelve month low of $13.10 and a twelve month high of $20.04. The business's fifty day simple moving average is $17.63 and its 200 day simple moving average is $17.30. The firm has a market capitalization of $17.32 billion, a price-to-earnings ratio of -58.25, a P/E/G ratio of 0.66 and a beta of 1.26.

KeyCorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th will be issued a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 4.69%. The ex-dividend date is Tuesday, March 4th. KeyCorp's payout ratio is currently -273.32%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on KEY shares. 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 research report on Tuesday, November 26th. Wells Fargo & Company raised their price objective on KeyCorp from $20.00 to $22.00 and gave the company an "overweight" rating in a research report on Friday, November 15th. Morgan Stanley dropped their price objective on KeyCorp from $23.00 to $22.00 and set an "equal weight" rating on the stock in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $18.50 price objective on shares of KeyCorp in a research report on Monday, February 3rd. Finally, UBS Group increased their price target on KeyCorp from $17.00 to $18.00 and gave the company a "neutral" rating in a research note on Wednesday, October 23rd. Nine equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $19.69.

Insider Buying and Selling at KeyCorp

In other news, Director Of Nova Scotia Bank purchased 50,000 shares of the stock in a transaction dated Wednesday, February 5th. The shares were purchased at an average cost of $17.85 per share, with a total value of $892,500.00. Following the completion of the purchase, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.61% of the stock is owned by corporate insiders.

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.