Park Avenue Securities LLC Acquires 7,497 Shares of KeyCorp (NYSE:KEY)

Park Avenue Securities LLC increased its holdings in KeyCorp (NYSE:KEY) by 33.1% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 30,137 shares of the financial services provider’s stock after buying an additional 7,497 shares during the quarter. Park Avenue Securities LLC’s holdings in KeyCorp were worth $517,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. FNY Investment Advisers LLC raised its holdings in shares of KeyCorp by 171.2% during the fourth quarter. FNY Investment Advisers LLC now owns 16,000 shares of the financial services provider’s stock valued at $274,000 after purchasing an additional 10,100 shares during the last quarter. Wedmont Private Capital bought a new stake in KeyCorp in the 4th quarter worth approximately $169,000. Brookstone Capital Management raised its stake in KeyCorp by 6.3% during the 4th quarter. Brookstone Capital Management now owns 12,415 shares of the financial services provider’s stock valued at $213,000 after buying an additional 734 shares during the last quarter. Czech National Bank lifted its holdings in shares of KeyCorp by 13.7% during the 4th quarter. Czech National Bank now owns 214,923 shares of the financial services provider’s stock valued at $3,684,000 after buying an additional 25,856 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in shares of KeyCorp by 27.0% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 106,270 shares of the financial services provider’s stock worth $1,780,000 after acquiring an additional 22,609 shares during the period. Hedge funds and other institutional investors own 79.69% of the company’s stock.

KeyCorp Stock Up 1.0 %

Shares of KEY opened at $17.47 on Friday. The business’s 50 day simple moving average is $18.10 and its 200-day simple moving average is $17.06. KeyCorp has a 1 year low of $13.10 and a 1 year high of $20.04. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a market capitalization of $17.32 billion, a price-to-earnings ratio of -58.24, a price-to-earnings-growth ratio of 0.67 and a beta of 1.27.

KeyCorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th will be given a dividend of $0.205 per share. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $0.82 annualized dividend and a yield of 4.69%. KeyCorp’s dividend payout ratio (DPR) is currently -273.32%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on KEY. Wells Fargo & Company increased their target price on KeyCorp from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, November 15th. DA Davidson dropped their price objective on shares of KeyCorp from $22.00 to $21.00 and set a “buy” rating on the stock in a report on Wednesday. Citigroup cut shares of KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 target price for the company. in a report on Thursday, November 7th. Morgan Stanley dropped their price target on shares of KeyCorp from $23.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Finally, UBS Group upped their price objective on KeyCorp from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $19.58.

Insiders Place Their Bets

In other news, Director Carlton L. Highsmith sold 9,000 shares of the business’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 transaction of $154,260.00. Following the transaction, the director now owns 37,864 shares of the company’s stock, valued at approximately $648,988.96. The trade was a 19.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Angela G. Mago sold 15,011 shares of the stock in a transaction 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 sale, the insider now owns 234,582 shares in the company, valued at $4,595,461.38. The trade was a 6.01 % decrease in their position. The disclosure for this sale can be found here. 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.