ING Groep NV Cuts Stake in KeyCorp (NYSE:KEY)

ING Groep NV lowered its position in shares of KeyCorp (NYSE:KEY) by 4.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 46,069 shares of the financial services provider’s stock after selling 1,978 shares during the period. ING Groep NV’s holdings in KeyCorp were worth $790,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. American Capital Advisory LLC purchased a new position in shares of KeyCorp during the third quarter valued at $28,000. Larson Financial Group LLC increased its stake in shares of KeyCorp by 90.8% during the third 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 during the period. Catalyst Capital Advisors LLC purchased a new position in shares of KeyCorp during the third quarter valued at $35,000. Capital Performance Advisors LLP purchased a new position in shares of KeyCorp during the third quarter valued at $38,000. Finally, Venturi Wealth Management LLC increased its stake in shares of KeyCorp by 62.9% during the third 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 during the period. Hedge funds and other institutional investors own 79.69% of the company’s stock.

KeyCorp Price Performance

Shares of NYSE KEY opened at $16.79 on Tuesday. 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 fifty-two week low of $13.10 and a fifty-two week high of $20.04. The company has a market cap of $16.64 billion, a PE ratio of -55.95, a P/E/G ratio of 0.65 and a beta of 1.26. The business has a 50-day simple moving average of $17.49 and a two-hundred day simple moving average of $17.45.

KeyCorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Tuesday, March 4th will be issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.89%. The ex-dividend date is Tuesday, March 4th. KeyCorp’s dividend payout ratio (DPR) is -273.32%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on KEY. Truist Financial began coverage on KeyCorp in a research report on Tuesday, January 7th. They set a “hold” rating and a $19.00 price objective on the stock. 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. Keefe, Bruyette & Woods dropped their price objective on KeyCorp from $22.00 to $21.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 22nd. Citigroup downgraded KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 price objective on the stock. in a research report on Thursday, November 7th. Finally, Piper Sandler raised their price objective on KeyCorp from $19.00 to $22.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. Nine equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $19.69.

Insider Buying and Selling

In other news, Director Of Nova Scotia Bank bought 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The stock was purchased at an average price of $17.85 per share, with a total value of $892,500.00. Following the completion of the acquisition, the director now directly owns 162,983,726 shares of the company’s stock, valued at $2,909,259,509.10. This trade represents a 0.03 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.61% of the company’s stock.

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.