10,702 Shares in KeyCorp (NYSE:KEY) Acquired by Prevail Innovative Wealth Advisors LLC

Prevail Innovative Wealth Advisors LLC bought a new stake in shares of KeyCorp (NYSE:KEY) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 10,702 shares of the financial services provider’s stock, valued at approximately $183,000.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in KeyCorp by 7.1% in the fourth quarter. Vanguard Group Inc. now owns 116,932,760 shares of the financial services provider’s stock worth $2,004,228,000 after purchasing an additional 7,754,576 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of KeyCorp by 4.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 33,058,682 shares of the financial services provider’s stock worth $566,626,000 after buying an additional 1,452,179 shares in the last quarter. Norges Bank acquired a new stake in shares of KeyCorp in the 4th quarter worth approximately $153,235,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of KeyCorp by 3.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,114,598 shares of the financial services provider’s stock valued at $119,170,000 after acquiring an additional 222,187 shares in the last quarter. Finally, Thrivent Financial for Lutherans increased its stake in shares of KeyCorp by 5.5% during the fourth quarter. Thrivent Financial for Lutherans now owns 6,174,383 shares of the financial services provider’s stock valued at $105,829,000 after acquiring an additional 322,150 shares during the period. Institutional investors and hedge funds own 79.69% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. DA Davidson decreased their price target on KeyCorp from $22.00 to $21.00 and set a “buy” rating for the company in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $18.50 target price on shares of KeyCorp in a research note on Monday, February 3rd. Wells Fargo & Company dropped their price target on shares of KeyCorp from $22.00 to $20.00 and set an “overweight” rating on the stock in a research report on Friday. Piper Sandler raised their price objective on shares of KeyCorp from $19.00 to $22.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $18.00 target price on shares of KeyCorp in a report on Wednesday, January 22nd. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, KeyCorp presently has an average rating of “Moderate Buy” and a consensus price target of $19.42.

KeyCorp Trading Down 2.3 %

NYSE:KEY opened at $15.80 on Monday. The stock has a market cap of $17.46 billion, a PE ratio of -52.65, a price-to-earnings-growth ratio of 0.65 and a beta of 1.26. KeyCorp has a fifty-two week low of $13.11 and a fifty-two week high of $20.04. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.85 and a quick ratio of 0.84. The stock’s 50-day moving average is $16.93 and its two-hundred day moving average is $17.42.

KeyCorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Tuesday, March 4th were given a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 5.19%. The ex-dividend date of this dividend was Tuesday, March 4th. KeyCorp’s payout ratio is presently -273.33%.

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

Insider Buying and Selling at KeyCorp

In related news, Director Of Nova Scotia Bank purchased 50,000 shares of the stock in a transaction dated 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 acquisition, the director now directly owns 162,983,726 shares in the company, valued at approximately $2,909,259,509.10. The trade was a 0.03 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.61% of the company’s stock.

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.