Signaturefd LLC Boosts Position in KeyCorp (NYSE:KEY)

Signaturefd LLC raised its stake in KeyCorp (NYSE:KEY) by 16.0% during the 4th quarter, HoldingsChannel reports. The firm owned 4,453 shares of the financial services provider’s stock after acquiring an additional 614 shares during the quarter. Signaturefd LLC’s holdings in KeyCorp were worth $76,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of KEY. Ethos Financial Group LLC acquired a new position in KeyCorp during the 4th quarter worth $27,000. Larson Financial Group LLC boosted its stake 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 valued at $32,000 after purchasing an additional 918 shares during the period. SBI Securities Co. Ltd. bought a new position in KeyCorp in the 4th quarter worth approximately $34,000. Whipplewood Advisors LLC bought a new position in shares of KeyCorp in the fourth quarter worth $45,000. Finally, Crews Bank & Trust bought a new position in KeyCorp in the 4th quarter valued at about $51,000. 79.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at KeyCorp

In other news, Director Of Nova Scotia Bank bought 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The stock was acquired at an average cost of $17.85 per share, for a total transaction of $892,500.00. Following the completion of the purchase, the director now owns 162,983,726 shares of the company’s stock, valued at $2,909,259,509.10. This trade represents a 0.03 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on KEY. Morgan Stanley lowered their target price on KeyCorp from $22.00 to $20.00 and set an “equal weight” rating on the stock in a report on Thursday, March 13th. Keefe, Bruyette & Woods lowered their price objective on shares of KeyCorp from $22.00 to $21.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 22nd. The Goldman Sachs Group upped 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. Citigroup dropped their price target on shares of KeyCorp from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Monday. Finally, Barclays raised their price objective on shares of KeyCorp from $19.00 to $21.00 and gave the company an “equal weight” rating in a research report on Monday, January 6th. Eight investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, KeyCorp presently has an average rating of “Moderate Buy” and a consensus price target of $19.53.

KeyCorp Stock Up 2.9 %

KEY opened at $16.62 on Tuesday. The business has a 50 day moving average of $17.07 and a 200-day moving average of $17.41. The stock has a market capitalization of $18.36 billion, a price-to-earnings ratio of -55.38, a P/E/G ratio of 0.65 and a beta of 1.26. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.77. KeyCorp has a 1-year low of $13.11 and a 1-year high of $20.04.

KeyCorp declared that its Board of Directors has initiated a share repurchase plan on Thursday, March 13th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the financial services provider to reacquire up to 6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

KeyCorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th were given a $0.205 dividend. The ex-dividend date was Tuesday, March 4th. This represents a $0.82 annualized dividend and a yield of 4.94%. KeyCorp’s dividend payout ratio is -273.33%.

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.