Sumitomo Mitsui Trust Group Inc. Sells 41,447 Shares of KeyCorp (NYSE:KEY)

Sumitomo Mitsui Trust Group Inc. cut its holdings in shares of KeyCorp (NYSE:KEY) by 2.0% in the 4th quarter, HoldingsChannel reports. The fund owned 2,059,620 shares of the financial services provider’s stock after selling 41,447 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in KeyCorp were worth $35,302,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wolff Wiese Magana LLC increased its position in shares of KeyCorp by 285.5% during the third quarter. Wolff Wiese Magana LLC now owns 1,542 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 1,142 shares in the last quarter. American Capital Advisory LLC bought a new stake in KeyCorp in the 3rd quarter worth about $28,000. Larson Financial Group LLC grew its position in 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 bought a new stake in KeyCorp in the 3rd quarter worth about $35,000. Finally, Capital Performance Advisors LLP bought a new stake in KeyCorp in the 3rd quarter worth about $38,000. 79.69% of the stock is owned by institutional investors.

KeyCorp Stock Performance

Shares of KEY stock opened at $17.56 on Wednesday. The stock has a market capitalization of $17.40 billion, a P/E ratio of -58.51, a PEG ratio of 0.66 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. The firm’s 50 day moving average is $17.68 and its 200 day moving average is $17.29. KeyCorp has a 12 month low of $13.10 and a 12 month high of $20.04.

KeyCorp Announces Dividend

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 paid a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 4.67%. The ex-dividend date of this dividend is Tuesday, March 4th. KeyCorp’s dividend payout ratio is presently -273.33%.

Analyst Ratings Changes

A number of brokerages have issued reports on KEY. The Goldman Sachs Group upped their price objective on shares of KeyCorp from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Keefe, Bruyette & Woods reduced their price objective on shares of KeyCorp from $22.00 to $21.00 and set an “outperform” rating for the company in a research report on Wednesday, January 22nd. UBS Group increased their target price on shares of KeyCorp from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. reissued a “neutral” rating and set a $18.50 target price on shares of KeyCorp in a research report on Monday, February 3rd. Finally, DA Davidson reduced their target price on shares of KeyCorp from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Wednesday, January 22nd. Nine analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, KeyCorp currently has an average rating of “Moderate Buy” and an average price target of $19.69.

Insiders Place Their Bets

In other news, Director Of Nova Scotia Bank bought 50,000 shares of the stock in a transaction on Wednesday, February 5th. The shares were acquired at an average cost 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 of the company’s stock, valued at $2,909,259,509.10. This trade represents a 0.03 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.67% of the company’s stock.

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.