KeyCorp (NYSE:KEY) Shares Sold by Blair William & Co. IL

Blair William & Co. IL lessened its holdings in shares of KeyCorp (NYSE:KEY) by 6.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 20,651 shares of the financial services provider’s stock after selling 1,310 shares during the quarter. Blair William & Co. IL’s holdings in KeyCorp were worth $354,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Whittier Trust Co. lifted its holdings in KeyCorp by 110.3% in the fourth quarter. Whittier Trust Co. now owns 1,525 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 800 shares during the period. Ethos Financial Group LLC bought a new position in shares of KeyCorp in the fourth quarter valued at approximately $27,000. SBI Securities Co. Ltd. acquired a new position in shares of KeyCorp during the fourth quarter valued at approximately $34,000. TCTC Holdings LLC raised its holdings in KeyCorp by 38.6% during the fourth quarter. TCTC Holdings LLC now owns 2,195 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 611 shares in the last quarter. Finally, Whipplewood Advisors LLC acquired a new stake in KeyCorp in the fourth quarter worth approximately $45,000. Institutional investors own 79.69% of the company’s stock.

KeyCorp Stock Down 4.7 %

KEY stock opened at $13.45 on Friday. The company has a 50 day moving average of $16.67 and a two-hundred day moving average of $17.36. The company has a market cap of $14.74 billion, a price-to-earnings ratio of -44.83, a PEG ratio of 0.65 and a beta of 1.06. KeyCorp has a 12-month low of $12.73 and a 12-month high of $20.04. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.77.

KeyCorp declared that its board has authorized a share repurchase plan on Thursday, March 13th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the financial services provider to reacquire up to 6% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.

KeyCorp Announces Dividend

The company 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. 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 6.10%. KeyCorp’s payout ratio is -273.33%.

Insider Buying and Selling at KeyCorp

In other KeyCorp news, Director Of Nova Scotia Bank acquired 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The shares were purchased at an average price of $17.85 per share, with a total value of $892,500.00. Following the completion of the transaction, 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 ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Truist Financial dropped their price objective on KeyCorp from $19.00 to $18.00 and set a “hold” rating on the stock in a research note on Friday, March 21st. Royal Bank of Canada reiterated an “outperform” rating and issued a $18.00 price target on shares of KeyCorp in a research report on Wednesday, January 22nd. Morgan Stanley lowered their price objective on shares of KeyCorp from $22.00 to $20.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 13th. Stephens reissued an “overweight” rating and set a $20.00 target price on shares of KeyCorp in a research note on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. decreased their price target on shares of KeyCorp from $18.50 to $16.50 and set a “neutral” rating on the stock in a research report on Thursday. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $19.31.

KeyCorp Company 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.