Net Worth Advisory Group Takes $297,000 Position in KeyCorp (NYSE:KEY)

Net Worth Advisory Group bought a new position in shares of KeyCorp (NYSE:KEY) in the fourth quarter, HoldingsChannel reports. The fund bought 17,329 shares of the financial services provider’s stock, valued at approximately $297,000.

Several other large investors have also recently bought and sold shares of the business. Ethos Financial Group LLC purchased a new stake in KeyCorp during the 4th quarter worth about $27,000. Larson Financial Group LLC lifted its stake in 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 purchasing an additional 918 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in KeyCorp in the fourth quarter valued at approximately $34,000. Venturi Wealth Management LLC increased its stake in KeyCorp by 62.9% in the third quarter. Venturi Wealth Management LLC now owns 2,526 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 975 shares during the last quarter. Finally, Whipplewood Advisors LLC acquired a new stake in KeyCorp during the fourth quarter worth approximately $45,000. Hedge funds and other institutional investors own 79.69% of the company’s stock.

Insider Activity at KeyCorp

In related news, Director Of Nova Scotia Bank acquired 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The shares were purchased at an average price of $17.85 per share, with a total value of $892,500.00. Following the completion of the acquisition, the director now owns 162,983,726 shares in the company, valued at approximately $2,909,259,509.10. This represents a 0.03 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.61% of the company’s stock.

KeyCorp Price Performance

Shares of NYSE:KEY opened at $15.17 on Wednesday. KeyCorp has a 52 week low of $13.11 and a 52 week high of $20.04. The company has a 50-day moving average price of $17.29 and a 200 day moving average price of $17.47. The company has a market cap of $16.76 billion, a P/E ratio of -50.55, a PEG ratio of 0.65 and a beta of 1.26. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.77.

KeyCorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th will be issued a $0.205 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $0.82 annualized dividend and a dividend yield of 5.41%. KeyCorp’s dividend payout ratio is currently -273.33%.

Wall Street Analysts Forecast Growth

KEY has been the topic of a number of recent analyst reports. Truist Financial started coverage on shares of KeyCorp in a research report on Tuesday, January 7th. They issued a “hold” rating and a $19.00 target price on the stock. Stephens reiterated an “overweight” rating and set a $20.00 target price on shares of KeyCorp in a research report on Wednesday, January 22nd. The Goldman Sachs Group boosted their target price on KeyCorp from $20.00 to $23.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. DA Davidson dropped their price target on KeyCorp from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Wednesday, January 22nd. Finally, Wells Fargo & Company boosted their price objective on KeyCorp from $20.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Eight research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, KeyCorp presently has an average rating of “Moderate Buy” and an average price target of $19.75.

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.