Principal Securities Inc. Buys 1,096 Shares of KeyCorp (NYSE:KEY)

Principal Securities Inc. lifted its holdings in shares of KeyCorp (NYSE:KEY) by 5.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 20,459 shares of the financial services provider’s stock after purchasing an additional 1,096 shares during the period. Principal Securities Inc.’s holdings in KeyCorp were worth $351,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. American Capital Advisory LLC acquired a new position in shares of KeyCorp during the third quarter worth $28,000. Larson Financial Group LLC lifted its holdings in shares of 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 period. Catalyst Capital Advisors LLC acquired a new position in shares of KeyCorp during the third quarter worth $35,000. Capital Performance Advisors LLP acquired a new position in shares of KeyCorp during the third quarter worth $38,000. Finally, Venturi Wealth Management LLC lifted its holdings in shares of KeyCorp by 62.9% during the third quarter. Venturi Wealth Management LLC now owns 2,526 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 975 shares during the period. Institutional investors and hedge funds own 79.69% of the company’s stock.

KeyCorp Price Performance

Shares of NYSE KEY opened at $16.94 on Friday. 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 firm’s 50-day moving average price is $17.52 and its 200-day moving average price is $17.39. The firm has a market capitalization of $16.80 billion, a P/E ratio of -56.47, a P/E/G ratio of 0.65 and a beta of 1.26. KeyCorp has a 1-year low of $13.10 and a 1-year high of $20.04.

KeyCorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th will be given a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 4.84%. The ex-dividend date is Tuesday, March 4th. KeyCorp’s payout ratio is presently -273.32%.

Wall Street Analysts Forecast Growth

KEY has been the topic of a number of recent research reports. Morgan Stanley cut their price target on shares of KeyCorp from $23.00 to $22.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 22nd. Keefe, Bruyette & Woods dropped their target price on shares of KeyCorp from $22.00 to $21.00 and set an “outperform” rating on the stock in a report on Wednesday, January 22nd. Citigroup lowered shares of KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 target price on the stock. in a report on Thursday, November 7th. Royal Bank of Canada restated an “outperform” rating and issued a $18.00 target price on shares of KeyCorp in a report on Wednesday, January 22nd. Finally, Truist Financial started coverage on shares of KeyCorp in a report on Tuesday, January 7th. They issued a “hold” rating and a $19.00 target price on the stock. Nine analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, KeyCorp has an average rating of “Moderate Buy” and a consensus target price of $19.69.

Insider Transactions at KeyCorp

In other KeyCorp news, Director Of Nova Scotia Bank bought 50,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, 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 this link. 0.61% of the stock is currently owned by insiders.

About KeyCorp

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.