Chesley Taft & Associates LLC Sells 1,500 Shares of KeyCorp (NYSE:KEY)

Chesley Taft & Associates LLC trimmed its position in KeyCorp (NYSE:KEY) by 3.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 48,917 shares of the financial services provider’s stock after selling 1,500 shares during the quarter. Chesley Taft & Associates LLC’s holdings in KeyCorp were worth $838,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Financial Advocates Investment Management lifted its stake in KeyCorp by 2.3% in the third quarter. Financial Advocates Investment Management now owns 26,872 shares of the financial services provider’s stock worth $450,000 after purchasing an additional 602 shares during the last quarter. HM Payson & Co. raised its holdings in shares of KeyCorp by 27.0% in the third quarter. HM Payson & Co. now owns 3,060 shares of the financial services provider’s stock worth $51,000 after buying an additional 650 shares during the period. Graypoint LLC lifted its stake in shares of KeyCorp by 4.7% during the 3rd quarter. Graypoint LLC now owns 14,954 shares of the financial services provider’s stock worth $250,000 after acquiring an additional 675 shares during the last quarter. Vontobel Holding Ltd. boosted its holdings in KeyCorp by 2.1% during the 3rd quarter. Vontobel Holding Ltd. now owns 33,728 shares of the financial services provider’s stock valued at $565,000 after acquiring an additional 679 shares during the period. Finally, Ballentine Partners LLC grew its position in KeyCorp by 5.7% in the 4th quarter. Ballentine Partners LLC now owns 12,855 shares of the financial services provider’s stock valued at $220,000 after acquiring an additional 692 shares during the last quarter. Institutional investors own 79.69% of the company’s stock.

Insider Activity at KeyCorp

In other news, insider Angela G. Mago sold 15,011 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $19.59, for a total transaction of $294,065.49. Following the transaction, the insider now owns 234,582 shares in the company, valued at $4,595,461.38. This trade represents a 6.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Carlton L. Highsmith sold 9,000 shares of the business’s stock in a transaction 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 completion of the sale, the director now directly 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 disclosure for this sale can be found here. 0.67% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on KEY. Robert W. Baird downgraded KeyCorp from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $18.00 to $17.00 in a research report on Monday, October 14th. Evercore ISI boosted their price target on shares of KeyCorp from $18.50 to $20.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. UBS Group upped their target price on KeyCorp from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Citigroup lowered shares of KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 price target for the company. in a research report on Thursday, November 7th. Finally, Truist Financial began coverage on shares of KeyCorp in a research report on Tuesday, January 7th. They issued a “hold” rating and a $19.00 price objective on the stock. Nine investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $19.44.

KeyCorp Stock Performance

Shares of KEY stock opened at $17.68 on Wednesday. The business has a fifty day moving average of $18.16 and a 200 day moving average of $17.04. 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 firm has a market capitalization of $17.52 billion, a price-to-earnings ratio of 1,767.50, a price-to-earnings-growth ratio of 0.69 and a beta of 1.27.

KeyCorp Announces Dividend

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 4.64%. The ex-dividend date is Tuesday, March 4th. KeyCorp’s dividend payout ratio (DPR) is 8,200.00%.

KeyCorp 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.