Cidel Asset Management Inc. Sells 983 Shares of KeyCorp (NYSE:KEY)

Cidel Asset Management Inc. trimmed its position in shares of KeyCorp (NYSE:KEY) by 8.4% during the 4th quarter, HoldingsChannel.com reports. The fund owned 10,765 shares of the financial services provider’s stock after selling 983 shares during the period. Cidel Asset Management Inc.’s holdings in KeyCorp were worth $185,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Avanza Fonder AB purchased a new position in shares of KeyCorp in the 4th quarter valued at approximately $1,618,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of KeyCorp by 14.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 657,913 shares of the financial services provider’s stock valued at $10,928,000 after buying an additional 85,052 shares in the last quarter. Dai ichi Life Insurance Company Ltd bought a new position in shares of KeyCorp in the 3rd quarter worth about $798,000. Prospector Partners LLC purchased a new position in KeyCorp during the 3rd quarter valued at about $9,630,000. Finally, Natixis Advisors LLC boosted its stake in KeyCorp by 17.9% during the third quarter. Natixis Advisors LLC now owns 689,469 shares of the financial services provider’s stock worth $11,549,000 after acquiring an additional 104,689 shares in the last quarter. Hedge funds and other institutional investors own 79.69% of the company’s stock.

KeyCorp Stock Performance

KEY stock opened at $17.84 on Monday. The company has a market cap of $17.68 billion, a P/E ratio of -59.46, a price-to-earnings-growth ratio of 0.66 and a beta of 1.26. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.85 and a quick ratio of 0.84. KeyCorp has a 1 year low of $13.10 and a 1 year high of $20.04. The stock’s fifty day moving average price is $17.71 and its 200-day moving average price is $17.27.

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 paid 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 dividend yield of 4.60%. KeyCorp’s dividend payout ratio is currently -273.32%.

Analyst Ratings Changes

A number of equities analysts have weighed in on KEY shares. Stephens reaffirmed an “overweight” rating and set a $20.00 target price on shares of KeyCorp in a research note on Wednesday, January 22nd. DA Davidson lowered their price objective on KeyCorp from $22.00 to $21.00 and set a “buy” rating for the company in a research note on Wednesday, January 22nd. Baird R W downgraded KeyCorp from a “strong-buy” rating to a “hold” rating in a report on Monday, October 14th. Morgan Stanley reduced their price target on KeyCorp from $23.00 to $22.00 and set an “equal weight” rating for the company in a report on Wednesday, January 22nd. Finally, Piper Sandler upped their price target on shares of KeyCorp from $19.00 to $22.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $19.69.

Insider Activity

In related news, Director Of Nova Scotia Bank acquired 50,000 shares of KeyCorp stock in a transaction dated Wednesday, February 5th. The stock was purchased at an average cost of $17.85 per share, for a total transaction of $892,500.00. Following the purchase, the director now directly owns 162,983,726 shares of the company’s stock, valued at approximately $2,909,259,509.10. This trade represents a 0.03 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.61% of the company’s stock.

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.