KeyCorp (NYSE:KEY) Stock Position Increased by StoneX Group Inc.

StoneX Group Inc. boosted its position in shares of KeyCorp (NYSE:KEY) by 20.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 129,832 shares of the financial services provider’s stock after buying an additional 22,366 shares during the quarter. StoneX Group Inc.’s holdings in KeyCorp were worth $2,225,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of KEY. TCTC Holdings LLC boosted its position in shares of KeyCorp by 38.6% during the 4th quarter. TCTC Holdings LLC now owns 2,195 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 611 shares in the last quarter. Signaturefd LLC lifted its stake in KeyCorp by 16.0% during the fourth quarter. Signaturefd LLC now owns 4,453 shares of the financial services provider’s stock valued at $76,000 after purchasing an additional 614 shares during the last quarter. Modera Wealth Management LLC boosted its holdings in KeyCorp by 3.9% during the fourth quarter. Modera Wealth Management LLC now owns 16,521 shares of the financial services provider’s stock worth $283,000 after buying an additional 627 shares in the last quarter. Ballentine Partners LLC grew its position in KeyCorp by 5.7% in the fourth quarter. Ballentine Partners LLC now owns 12,855 shares of the financial services provider’s stock worth $220,000 after buying an additional 692 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of KeyCorp by 0.4% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 175,512 shares of the financial services provider’s stock valued at $3,008,000 after buying an additional 695 shares in the last quarter. 79.69% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Of Nova Scotia Bank purchased 50,000 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The stock was bought at an average price of $17.85 per share, for a total transaction of $892,500.00. Following the purchase, the director now owns 162,983,726 shares in the company, valued at $2,909,259,509.10. The trade was a 0.03 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.61% of the stock is owned by insiders.

KeyCorp Trading Down 1.4 %

Shares of NYSE KEY opened at $15.77 on Wednesday. The business has a 50 day simple moving average of $16.85 and a 200 day simple moving average of $17.42. KeyCorp has a 52 week low of $13.11 and a 52 week high of $20.04. The stock has a market cap of $17.43 billion, a price-to-earnings ratio of -52.57, a PEG ratio of 0.65 and a beta of 1.26. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.84 and a current ratio of 0.85.

KeyCorp announced that its Board of Directors has initiated 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 reacquire up to 6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

KeyCorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th were paid a dividend of $0.205 per share. The ex-dividend date was Tuesday, March 4th. This represents a $0.82 annualized dividend and a dividend yield of 5.20%. KeyCorp’s dividend payout ratio (DPR) is -273.33%.

Analysts Set New Price Targets

Several research firms have recently weighed in on KEY. Citigroup reduced their price objective on KeyCorp from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Monday, March 24th. Wells Fargo & Company decreased their price target on KeyCorp from $22.00 to $20.00 and set an “overweight” rating for the company in a research report on Friday, March 28th. Barclays boosted their price objective on KeyCorp from $19.00 to $21.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. Keefe, Bruyette & Woods decreased their target price on shares of KeyCorp from $22.00 to $21.00 and set an “outperform” rating for the company in a report on Wednesday, January 22nd. Finally, Piper Sandler boosted their price target on shares of KeyCorp from $19.00 to $22.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Eight research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, KeyCorp presently has an average rating of “Moderate Buy” and a consensus target price of $19.42.

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.