Valeo Financial Advisors LLC Decreases Holdings in KeyCorp (NYSE:KEY)

Valeo Financial Advisors LLC decreased its stake in shares of KeyCorp (NYSE:KEY) by 30.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 67,905 shares of the financial services provider’s stock after selling 30,295 shares during the quarter. Valeo Financial Advisors LLC’s holdings in KeyCorp were worth $1,164,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Avanza Fonder AB acquired a new position in KeyCorp during the 4th quarter valued at approximately $1,618,000. Mirae Asset Global Investments Co. Ltd. increased its stake in 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 purchasing an additional 85,052 shares in the last quarter. Dai ichi Life Insurance Company Ltd acquired a new position in KeyCorp during the 3rd quarter valued at approximately $798,000. State of New Jersey Common Pension Fund D increased its stake in KeyCorp by 13.6% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 304,565 shares of the financial services provider’s stock valued at $5,101,000 after purchasing an additional 36,444 shares in the last quarter. Finally, Prospector Partners LLC acquired a new position in KeyCorp during the 3rd quarter valued at approximately $9,630,000. Institutional investors and hedge funds own 79.69% of the company’s stock.

KeyCorp Stock Performance

KEY opened at $17.73 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.77. The company has a market cap of $17.57 billion, a price-to-earnings ratio of -59.08, a PEG ratio of 0.66 and a beta of 1.26. KeyCorp has a 52-week low of $13.10 and a 52-week high of $20.04. The firm’s fifty day simple moving average is $17.59 and its two-hundred day simple moving average is $17.31.

KeyCorp Dividend Announcement

The business also recently disclosed 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 4.63%. The ex-dividend date is Tuesday, March 4th. KeyCorp’s payout ratio is -273.32%.

Analyst Upgrades and Downgrades

KEY has been the topic of a number of research reports. Stephens reiterated an “overweight” rating and issued a $20.00 price objective on shares of KeyCorp in a research note on Wednesday, January 22nd. Wells Fargo & Company increased their price objective on shares of KeyCorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. DA Davidson cut their price objective on shares of KeyCorp from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Wednesday, January 22nd. Royal Bank of Canada reiterated an “outperform” rating and issued a $18.00 price objective on shares of KeyCorp in a research note on Wednesday, January 22nd. Finally, Barclays increased their price objective on shares of KeyCorp from $19.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, KeyCorp currently has an average rating of “Moderate Buy” and an average price target of $19.69.

Insider Buying and Selling at KeyCorp

In other KeyCorp news, Director Of Nova Scotia Bank purchased 50,000 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The shares were purchased at an average cost of $17.85 per share, with a total value of $892,500.00. Following the completion of the purchase, the director now owns 162,983,726 shares in the company, valued at approximately $2,909,259,509.10. This represents a 0.03 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 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.