Atria Wealth Solutions Inc. Trims Stake in KeyCorp (NYSE:KEY)

Atria Wealth Solutions Inc. trimmed its holdings in shares of KeyCorp (NYSE:KEY) by 6.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 40,247 shares of the financial services provider’s stock after selling 2,582 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in KeyCorp were worth $690,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in KEY. American Capital Advisory LLC purchased a new position in shares of KeyCorp in the 3rd quarter worth about $28,000. Larson Financial Group LLC boosted its holdings in shares of KeyCorp by 90.8% in the 3rd quarter. Larson Financial Group LLC now owns 1,929 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 918 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new position in shares of KeyCorp in the 3rd quarter worth about $35,000. Capital Performance Advisors LLP purchased a new position in shares of KeyCorp in the 3rd quarter worth about $38,000. Finally, Venturi Wealth Management LLC boosted its holdings in shares of KeyCorp by 62.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,526 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 975 shares in the last quarter. 79.69% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Of Nova Scotia Bank bought 50,000 shares of KeyCorp stock in a transaction on Wednesday, February 5th. The shares were purchased at an average price of $17.85 per share, for a total transaction of $892,500.00. Following the acquisition, the director now owns 162,983,726 shares of the company’s stock, valued at approximately $2,909,259,509.10. The trade was a 0.03 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.67% of the company’s stock.

KeyCorp Stock Down 0.4 %

KEY stock opened at $16.70 on Wednesday. KeyCorp has a fifty-two week low of $13.10 and a fifty-two week high of $20.04. The business’s 50 day moving average price is $17.47 and its two-hundred day moving average price is $17.47. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.84 and a current ratio of 0.85. The company has a market capitalization of $16.55 billion, a price-to-earnings ratio of -55.65, a price-to-earnings-growth ratio of 0.65 and a beta of 1.26.

KeyCorp Dividend Announcement

The company also recently announced 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. The ex-dividend date is Tuesday, March 4th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.91%. KeyCorp’s dividend payout ratio (DPR) is -273.33%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on KEY. Keefe, Bruyette & Woods cut their price objective on KeyCorp from $22.00 to $21.00 and set an “outperform” rating for the company in a report on Wednesday, January 22nd. DA Davidson lowered their target price on KeyCorp from $22.00 to $21.00 and set a “buy” rating for the company in a research note on Wednesday, January 22nd. Stephens reissued an “overweight” rating and issued a $20.00 target price on shares of KeyCorp in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $18.50 target price on shares of KeyCorp in a research note on Monday, February 3rd. Finally, Piper Sandler boosted their target price on KeyCorp from $19.00 to $22.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Nine investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, KeyCorp presently has an average rating of “Moderate Buy” and an average price target of $19.69.

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.