Cullen Frost Bankers Inc. Sells 1,460 Shares of KeyCorp (NYSE:KEY)

Cullen Frost Bankers Inc. trimmed its position in KeyCorp (NYSE:KEY) by 46.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,713 shares of the financial services provider’s stock after selling 1,460 shares during the period. Cullen Frost Bankers Inc.’s holdings in KeyCorp were worth $29,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Larson Financial Group LLC boosted its position in shares of KeyCorp by 90.8% during the third quarter. Larson Financial Group LLC now owns 1,929 shares of the financial services provider’s stock worth $32,000 after buying an additional 918 shares during the period. SBI Securities Co. Ltd. acquired a new position in shares of KeyCorp during the fourth quarter worth about $34,000. Capital Performance Advisors LLP acquired a new position in shares of KeyCorp during the third quarter worth about $38,000. Venturi Wealth Management LLC boosted its position in shares of KeyCorp by 62.9% during the third quarter. Venturi Wealth Management LLC now owns 2,526 shares of the financial services provider’s stock worth $42,000 after buying an additional 975 shares during the period. Finally, Whipplewood Advisors LLC acquired a new position in shares of KeyCorp during the fourth quarter worth about $45,000. 79.69% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at KeyCorp

In related news, Director Of Nova Scotia Bank acquired 50,000 shares of the 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 purchase, the director now directly owns 162,983,726 shares in the company, valued at approximately $2,909,259,509.10. The trade was a 0.03 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.61% of the stock is owned by corporate insiders.

KeyCorp Price Performance

Shares of NYSE KEY opened at $15.15 on Tuesday. The firm has a market cap of $16.74 billion, a P/E ratio of -50.48, a price-to-earnings-growth ratio of 0.65 and a beta of 1.26. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.77. KeyCorp has a 1-year low of $13.11 and a 1-year high of $20.04. The business’s 50 day moving average is $17.33 and its 200-day moving average is $17.48.

KeyCorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th will be paid a dividend of $0.205 per share. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 5.41%. KeyCorp’s dividend payout ratio (DPR) is currently -273.33%.

Wall Street Analyst Weigh In

Several brokerages recently commented on KEY. The Goldman Sachs Group increased their price target on KeyCorp from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $18.50 price target on shares of KeyCorp in a research report on Monday, February 3rd. Keefe, Bruyette & Woods reduced their price target on KeyCorp from $22.00 to $21.00 and set an “outperform” rating for the company in a research report on Wednesday, January 22nd. DA Davidson reduced their price target on KeyCorp from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Wednesday, January 22nd. Finally, Stephens reissued an “overweight” rating and set a $20.00 price target on shares of KeyCorp in a research report on Wednesday, January 22nd. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $19.75.

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.