KeyCorp (NYSE:KEY) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. trimmed its stake in KeyCorp (NYSE:KEY - Free Report) by 2.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,059,620 shares of the financial services provider's stock after selling 41,447 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.21% of KeyCorp worth $35,302,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Centennial Wealth Advisory LLC boosted its holdings in KeyCorp by 6.0% in the 4th quarter. Centennial Wealth Advisory LLC now owns 40,275 shares of the financial services provider's stock worth $690,000 after buying an additional 2,279 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in KeyCorp by 19.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 782,593 shares of the financial services provider's stock worth $13,459,000 after buying an additional 124,680 shares during the period. Yousif Capital Management LLC boosted its holdings in KeyCorp by 1.5% in the 4th quarter. Yousif Capital Management LLC now owns 133,317 shares of the financial services provider's stock worth $2,285,000 after buying an additional 1,938 shares during the period. Retirement Systems of Alabama boosted its holdings in KeyCorp by 6.7% in the 4th quarter. Retirement Systems of Alabama now owns 214,614 shares of the financial services provider's stock worth $3,678,000 after buying an additional 13,508 shares during the period. Finally, Greenwood Capital Associates LLC boosted its holdings in KeyCorp by 15.2% in the 4th quarter. Greenwood Capital Associates LLC now owns 82,517 shares of the financial services provider's stock worth $1,414,000 after buying an additional 10,867 shares during the period. 79.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Citigroup downgraded shares of KeyCorp from a "buy" rating to a "neutral" rating and set a $19.00 target price for the company. in a report on Thursday, November 7th. Morgan Stanley dropped their target price on shares of KeyCorp from $23.00 to $22.00 and set an "equal weight" rating for the company in a report on Wednesday, January 22nd. Keefe, Bruyette & Woods dropped their price objective on shares of KeyCorp from $22.00 to $21.00 and set an "outperform" rating for the company in a report on Wednesday, January 22nd. Royal Bank of Canada reissued an "outperform" rating and set a $18.00 price objective on shares of KeyCorp in a report on Wednesday, January 22nd. Finally, Wells Fargo & Company increased 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. Nine equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $19.69.

Insider Buying and Selling

In related news, Director Of Nova Scotia Bank bought 50,000 shares of KeyCorp stock in a transaction dated Wednesday, February 5th. The shares were acquired at an average cost of $17.85 per share, with a total value of $892,500.00. Following the completion of the transaction, the director now owns 162,983,726 shares in the company, valued at $2,909,259,509.10. The trade was a 0.03 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.61% of the stock is currently owned by corporate insiders.

KeyCorp Trading Up 1.4 %

Shares of NYSE:KEY traded up $0.25 during trading on Friday, reaching $17.73. The company's stock had a trading volume of 8,283,918 shares, compared to its average volume of 13,900,512. 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 12 month low of $13.10 and a 12 month high of $20.04. The stock has a market capitalization of $17.57 billion, a PE ratio of -59.08, a price-to-earnings-growth ratio of 0.66 and a beta of 1.26. The firm's 50 day simple moving average is $17.59 and its two-hundred day simple moving average is $17.31.

KeyCorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Tuesday, March 4th will be given a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 4.63%. The ex-dividend date of this dividend is Tuesday, March 4th. KeyCorp's dividend payout ratio (DPR) is currently -273.32%.

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.