Focused Wealth Management Inc Buys 7,514 Shares of KeyCorp (NYSE:KEY)
Focused Wealth Management Inc increased its stake in KeyCorp (NYSE:KEY) by 192.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,425 shares of the financial services provider’s stock after purchasing an additional 7,514 shares during the quarter. Focused Wealth Management Inc’s holdings in KeyCorp were worth $231,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Nuveen Asset Management LLC grew its holdings in shares of KeyCorp by 314.4% during the second quarter. Nuveen Asset Management LLC now owns 6,579,555 shares of the financial services provider’s stock valued at $116,787,000 after buying an additional 4,991,821 shares during the last quarter. Millennium Management LLC boosted its stake in shares of KeyCorp by 5,144.8% during the 3rd quarter. Millennium Management LLC now owns 4,952,552 shares of the financial services provider’s stock worth $88,353,000 after purchasing an additional 4,858,125 shares during the period. Amundi Pioneer Asset Management Inc. boosted its stake in shares of KeyCorp by 176.8% during the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 2,009,043 shares of the financial services provider’s stock worth $214,180,000 after purchasing an additional 1,283,285 shares during the period. Janney Capital Management LLC purchased a new position in shares of KeyCorp during the 3rd quarter worth about $12,652,000. Finally, United Services Automobile Association purchased a new position in shares of KeyCorp during the 4th quarter worth about $11,306,000. 80.16% of the stock is currently owned by institutional investors.
In other news, insider Amy G. Brady sold 15,756 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $19.27, for a total value of $303,618.12. Following the completion of the sale, the insider now owns 95,432 shares in the company, valued at approximately $1,838,974.64. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Douglas M. Schosser sold 8,481 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $20.04, for a total transaction of $169,959.24. Following the completion of the sale, the chief accounting officer now owns 33,391 shares of the company’s stock, valued at approximately $669,155.64. The disclosure for this sale can be found here. Insiders have sold a total of 232,965 shares of company stock valued at $4,326,375 in the last quarter. 0.08% of the stock is currently owned by company insiders.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Tuesday, March 3rd will be issued a dividend of $0.185 per share. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $0.74 dividend on an annualized basis and a yield of 3.79%. KeyCorp’s payout ratio is 42.77%.
A number of research firms recently commented on KEY. Deutsche Bank cut shares of KeyCorp from a “buy” rating to a “hold” rating and set a $19.00 price target for the company. in a research note on Friday, October 25th. Morgan Stanley dropped their price target on shares of KeyCorp from $21.00 to $20.50 and set an “overweight” rating for the company in a research note on Thursday, October 3rd. Barclays reaffirmed a “sell” rating and set a $23.00 price target on shares of KeyCorp in a research note on Tuesday, January 7th. Evercore ISI began coverage on shares of KeyCorp in a research note on Wednesday, November 20th. They set a “buy” rating and a $21.00 price target for the company. Finally, Robert W. Baird cut shares of KeyCorp from an “outperform” rating to a “neutral” rating and set a $19.00 price target for the company. in a research note on Wednesday, November 6th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $24.18.
KeyCorp Company Profile
KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking services in the United States. The company's Key Community Bank segment offers various deposit and investment products, personal finance services, residential mortgages, home equity loans, credit cards, and installment loans.
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