Bryn Mawr Capital Management LLC Reduces Stake in KeyCorp (NYSE:KEY)

Bryn Mawr Capital Management LLC reduced its stake in KeyCorp (NYSE:KEY) by 19.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,498 shares of the financial services provider’s stock after selling 3,288 shares during the quarter. Bryn Mawr Capital Management LLC’s holdings in KeyCorp were worth $231,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. American Capital Advisory LLC purchased a new stake in KeyCorp in the 3rd quarter valued at $28,000. Larson Financial Group LLC grew its holdings in KeyCorp by 90.8% in the 3rd quarter. Larson Financial Group LLC now owns 1,929 shares of the financial services provider’s stock valued at $32,000 after buying an additional 918 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new stake in KeyCorp in the 3rd quarter valued at $35,000. Capital Performance Advisors LLP purchased a new stake in KeyCorp in the 3rd quarter valued at $38,000. Finally, Venturi Wealth Management LLC grew its holdings in KeyCorp by 62.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,526 shares of the financial services provider’s stock valued at $42,000 after buying an additional 975 shares in the last quarter. 79.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on KEY. Piper Sandler upped their price target on KeyCorp from $19.00 to $22.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Stephens reaffirmed an “overweight” rating and issued a $20.00 price target on shares of KeyCorp in a research note on Wednesday, January 22nd. Citigroup lowered KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 price target on the stock. in a research note on Thursday, November 7th. Keefe, Bruyette & Woods decreased their price target on KeyCorp from $22.00 to $21.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 22nd. Finally, The Goldman Sachs Group upped 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 company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.69.

Insider Buying and Selling at KeyCorp

In other KeyCorp news, Director Of Nova Scotia Bank acquired 50,000 shares of the stock in a transaction dated Wednesday, February 5th. The stock was acquired at an average cost of $17.85 per share, with a total value 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. The trade was a 0.03 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.61% of the company’s stock.

KeyCorp Stock Performance

Shares of KEY opened at $16.94 on Friday. KeyCorp has a 1 year low of $13.10 and a 1 year high of $20.04. The stock has a market capitalization of $16.80 billion, a PE ratio of -56.47, a PEG ratio of 0.67 and a beta of 1.26. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.84 and a current ratio of 0.85. The stock has a 50-day simple moving average of $17.54 and a 200-day simple moving average of $17.37.

KeyCorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th will be issued a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 4.84%. The ex-dividend date of this dividend is Tuesday, March 4th. KeyCorp’s dividend payout ratio (DPR) 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.