Whipplewood Advisors LLC Takes $45,000 Position in KeyCorp (NYSE:KEY)

Whipplewood Advisors LLC acquired a new stake in shares of KeyCorp (NYSE:KEY) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,600 shares of the financial services provider’s stock, valued at approximately $45,000.

Other institutional investors have also recently made changes to their positions in the company. Financial Advocates Investment Management raised its position in KeyCorp by 2.3% in the 3rd 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 period. HM Payson & Co. raised its position in KeyCorp by 27.0% in the 3rd quarter. HM Payson & Co. now owns 3,060 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 650 shares during the period. Graypoint LLC raised its position in KeyCorp by 4.7% in the 3rd quarter. Graypoint LLC now owns 14,954 shares of the financial services provider’s stock worth $250,000 after purchasing an additional 675 shares during the period. Ballentine Partners LLC raised 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 worth $220,000 after purchasing an additional 692 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its position in KeyCorp by 0.4% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 175,512 shares of the financial services provider’s stock worth $3,008,000 after purchasing an additional 695 shares during the period. Institutional investors and hedge funds own 79.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Morgan Stanley decreased their price objective on shares of KeyCorp from $23.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 22nd. Barclays boosted their price objective on shares of KeyCorp from $19.00 to $21.00 and gave the company an “equal weight” rating in a research report on Monday, January 6th. Truist Financial assumed 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. Royal Bank of Canada restated an “outperform” rating and issued a $18.00 price objective on shares of KeyCorp in a research report on Wednesday, January 22nd. Finally, Wells Fargo & Company boosted their price objective on shares of KeyCorp from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Nine analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $19.69.

Insider Buying and Selling

In related news, Director Of Nova Scotia Bank purchased 50,000 shares of KeyCorp stock in a transaction that occurred on Wednesday, February 5th. The shares were bought at an average price of $17.85 per share, with a total value of $892,500.00. Following the purchase, the director now directly owns 162,983,726 shares of the company’s stock, valued at approximately $2,909,259,509.10. This represents a 0.03 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.67% of the stock is currently owned by insiders.

KeyCorp Price Performance

KeyCorp stock opened at $17.33 on Friday. The firm has a 50-day moving average price of $17.48 and a 200-day moving average price of $17.47. The firm has a market capitalization of $17.18 billion, a PE ratio of -57.76, 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 12-month low of $13.10 and a 12-month high of $20.04.

KeyCorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Tuesday, March 4th will be paid a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 4.73%. The ex-dividend date is Tuesday, March 4th. KeyCorp’s dividend payout ratio is presently -273.33%.

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.