KeyCorp (NYSE:KEY) Shares Sold by Farther Finance Advisors LLC

Farther Finance Advisors LLC decreased its position in shares of KeyCorp (NYSE:KEY) by 40.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,485 shares of the financial services provider’s stock after selling 8,616 shares during the period. Farther Finance Advisors LLC’s holdings in KeyCorp were worth $214,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Ethos Financial Group LLC acquired a new position in KeyCorp during the 4th quarter worth about $27,000. Larson Financial Group LLC increased its holdings in KeyCorp by 90.8% during 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 during the period. SBI Securities Co. Ltd. purchased a new stake in KeyCorp during the 4th quarter worth about $34,000. Whipplewood Advisors LLC purchased a new stake in KeyCorp during the 4th quarter worth about $45,000. Finally, Crews Bank & Trust purchased a new stake in KeyCorp during the 4th quarter worth about $51,000. Institutional investors and hedge funds own 79.69% of the company’s stock.

Insiders Place Their Bets

In related news, Director Of Nova Scotia Bank acquired 50,000 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was bought at an average cost of $17.85 per share, with a total value of $892,500.00. Following the transaction, the director now owns 162,983,726 shares of the company’s stock, valued at $2,909,259,509.10. The trade was a 0.03 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.61% of the stock is owned by insiders.

KeyCorp Stock Up 1.4 %

KeyCorp stock opened at $16.07 on Thursday. KeyCorp has a twelve month low of $13.11 and a twelve month high of $20.04. The stock has a 50 day moving average of $17.11 and a two-hundred day moving average of $17.41. 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 stock has a market capitalization of $17.75 billion, a price-to-earnings ratio of -53.55, a PEG ratio of 0.65 and a beta of 1.26.

KeyCorp announced that its board has authorized a share repurchase program on Thursday, March 13th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the financial services provider to purchase up to 6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

KeyCorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th were given a dividend of $0.205 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $0.82 dividend on an annualized basis and a yield of 5.10%. KeyCorp’s payout ratio is -273.33%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Barclays upped their price target on KeyCorp from $19.00 to $21.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. Piper Sandler increased their price objective on KeyCorp from $19.00 to $22.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Citigroup upgraded KeyCorp from a “neutral” rating to a “buy” rating and set a $20.00 price objective on the stock in a report on Monday, March 10th. Morgan Stanley dropped their price objective on KeyCorp from $22.00 to $20.00 and set an “equal weight” rating on the stock in a report on Thursday, March 13th. Finally, The Goldman Sachs Group increased their price objective on KeyCorp from $20.00 to $23.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Eight analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $19.64.

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.