Kingswood Wealth Advisors LLC Sells 13,839 Shares of KeyCorp (NYSE:KEY)

Kingswood Wealth Advisors LLC reduced its position in KeyCorp (NYSE:KEY) by 38.7% in the 4th quarter, Holdings Channel reports. The firm owned 21,964 shares of the financial services provider’s stock after selling 13,839 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in KeyCorp were worth $376,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wolff Wiese Magana LLC lifted its position in KeyCorp by 285.5% in the third quarter. Wolff Wiese Magana LLC now owns 1,542 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 1,142 shares during the period. American Capital Advisory LLC bought a new position in KeyCorp in the third quarter worth $28,000. Larson Financial Group LLC lifted its position in KeyCorp by 90.8% in the third 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 during the period. Catalyst Capital Advisors LLC bought a new position in KeyCorp in the third quarter worth $35,000. Finally, Capital Performance Advisors LLP bought a new position in KeyCorp in the third quarter worth $38,000. 79.69% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other KeyCorp news, insider Angela G. Mago sold 15,011 shares of the firm’s stock in a transaction dated 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 approximately $4,595,461.38. This trade represents a 6.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Carlton L. Highsmith sold 9,000 shares of KeyCorp stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $17.14, for a total value of $154,260.00. Following the transaction, the director now owns 37,864 shares in the company, valued at $648,988.96. This trade represents a 19.20 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.61% of the company’s stock.

KeyCorp Price Performance

Shares of KEY stock opened at $18.05 on Friday. The stock has a 50-day moving average price of $17.95 and a 200 day moving average price of $17.17. The company has a quick ratio of 0.88, a current ratio of 0.85 and a debt-to-equity ratio of 0.77. The firm has a market cap of $17.89 billion, a price-to-earnings ratio of -60.15, a PEG ratio of 0.65 and a beta of 1.27. KeyCorp has a 12 month low of $13.10 and a 12 month high of $20.04.

KeyCorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Tuesday, March 4th will be given a $0.205 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $0.82 dividend on an annualized basis and a yield of 4.54%. KeyCorp’s payout ratio is -273.33%.

Wall Street Analyst Weigh In

KEY has been the subject of several recent analyst reports. Piper Sandler increased their price objective on KeyCorp from $19.00 to $22.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Keefe, Bruyette & Woods dropped their price objective on KeyCorp from $22.00 to $21.00 and set an “outperform” rating for the company in a research note on Wednesday, January 22nd. Morgan Stanley dropped their price objective on KeyCorp from $23.00 to $22.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 22nd. Royal Bank of Canada reiterated an “outperform” rating and set a $18.00 price objective on shares of KeyCorp in a research note on Wednesday, January 22nd. Finally, Wells Fargo & Company increased their price objective on KeyCorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Nine equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $19.58.

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.