OLD National Bancorp IN Sells 3,761 Shares of KeyCorp (NYSE:KEY)

OLD National Bancorp IN decreased its position in KeyCorp (NYSE:KEY) by 9.6% during the 4th quarter, Holdings Channel reports. The firm owned 35,353 shares of the financial services provider’s stock after selling 3,761 shares during the period. OLD National Bancorp IN’s holdings in KeyCorp were worth $606,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its position in KeyCorp by 3.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,606,503 shares of the financial services provider’s stock valued at $529,409,000 after buying an additional 993,942 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of KeyCorp by 3.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,114,598 shares of the financial services provider’s stock worth $119,170,000 after purchasing an additional 222,187 shares during the period. Thrivent Financial for Lutherans grew its stake in shares of KeyCorp by 108.3% in the third quarter. Thrivent Financial for Lutherans now owns 5,852,233 shares of the financial services provider’s stock worth $98,025,000 after purchasing an additional 3,042,060 shares during the last quarter. Azora Capital LP purchased a new position in KeyCorp during the 3rd quarter valued at about $92,413,000. Finally, Assenagon Asset Management S.A. raised its position in KeyCorp by 280.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 4,976,965 shares of the financial services provider’s stock valued at $83,364,000 after purchasing an additional 3,668,168 shares during the last quarter. 79.69% of the stock is owned by hedge funds and other institutional investors.

KeyCorp Price Performance

Shares of NYSE:KEY opened at $18.01 on Friday. The business has a fifty day moving average price of $17.93 and a 200-day moving average price of $17.17. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.84 and a current ratio of 0.85. KeyCorp has a 1-year low of $13.10 and a 1-year high of $20.04.

KeyCorp Announces Dividend

The company also recently disclosed 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 is Tuesday, March 4th. This represents a $0.82 dividend on an annualized basis and a yield of 4.55%. KeyCorp’s dividend payout ratio is currently -273.32%.

Insiders Place Their Bets

In related news, insider Angela G. Mago sold 15,011 shares of KeyCorp stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $19.59, for a total value of $294,065.49. Following the completion of the sale, the insider now directly owns 234,582 shares in the company, valued at approximately $4,595,461.38. This trade represents a 6.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Carlton L. Highsmith sold 9,000 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $17.14, for a total transaction of $154,260.00. Following the transaction, the director now owns 37,864 shares in the company, valued at $648,988.96. This represents a 19.20 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on KEY. Citigroup cut KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 target price on the stock. in a research note on Thursday, November 7th. DA Davidson reduced their price objective on shares of KeyCorp from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Wednesday, January 22nd. Barclays raised their target price on shares of KeyCorp from $19.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. Stephens reiterated an “overweight” rating and set a $20.00 price target on shares of KeyCorp in a research report on Wednesday, January 22nd. Finally, Robert W. Baird lowered shares of KeyCorp from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $18.00 to $17.00 in a report on Monday, October 14th. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $19.58.

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.