Nordea Investment Management AB Sells 3,027 Shares of KeyCorp (NYSE:KEY)

Nordea Investment Management AB trimmed its stake in KeyCorp (NYSE:KEY) by 3.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 87,845 shares of the financial services provider’s stock after selling 3,027 shares during the period. Nordea Investment Management AB’s holdings in KeyCorp were worth $1,513,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in KEY. Charles Schwab Investment Management Inc. grew its stake 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 worth $529,409,000 after buying an additional 993,942 shares during the last quarter. Diamond Hill Capital Management Inc. grew its stake in KeyCorp by 12.2% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 20,295,788 shares of the financial services provider’s stock worth $288,403,000 after buying an additional 2,213,872 shares during the last quarter. Earnest Partners LLC grew its stake in KeyCorp by 23.2% during the 2nd quarter. Earnest Partners LLC now owns 12,430,048 shares of the financial services provider’s stock worth $176,631,000 after buying an additional 2,339,454 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in KeyCorp by 2.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 10,508,853 shares of the financial services provider’s stock worth $149,299,000 after buying an additional 300,339 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in KeyCorp by 3.2% during the 3rd 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 buying an additional 222,187 shares during the last quarter. 79.69% of the stock is owned by institutional investors.

KeyCorp Stock Performance

NYSE KEY opened at $16.72 on Monday. The stock has a market capitalization of $16.57 billion, a price-to-earnings ratio of 1,672.00, a PEG ratio of 1.00 and a beta of 1.27. KeyCorp has a twelve month low of $12.94 and a twelve month high of $20.04. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.09. The stock has a 50-day moving average of $18.25 and a 200 day moving average of $16.88.

KeyCorp (NYSE:KEY) last released its quarterly earnings results on Thursday, October 17th. The financial services provider reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.03. The company had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.59 billion. KeyCorp had a return on equity of 8.24% and a net margin of 0.76%. Sell-side analysts anticipate that KeyCorp will post 1.09 EPS for the current fiscal year.

KeyCorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Tuesday, December 3rd were issued a dividend of $0.205 per share. The ex-dividend date was Tuesday, December 3rd. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.90%. KeyCorp’s payout ratio is currently 8,200.00%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on KEY. Barclays boosted their target price on KeyCorp from $19.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. Truist Financial initiated coverage on KeyCorp in a research note on Tuesday, January 7th. They set a “hold” rating and a $19.00 price target on the stock. Citigroup downgraded 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 boosted their price target on KeyCorp from $19.00 to $22.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Finally, Evercore ISI boosted their price target on KeyCorp from $18.50 to $20.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Nine equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, KeyCorp has a consensus rating of “Moderate Buy” and a consensus price target of $19.44.

Insider Buying and Selling at KeyCorp

In other news, Director Carlton L. Highsmith sold 9,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $17.14, for a total value of $154,260.00. Following the completion of the sale, the director now directly owns 37,864 shares in the company, valued at $648,988.96. This represents a 19.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Angela G. Mago sold 15,011 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were 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 owns 234,582 shares of the company’s stock, valued at $4,595,461.38. This trade represents a 6.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.