Capula Management Ltd Purchases Shares of 18,594 KeyCorp (NYSE:KEY)

Capula Management Ltd acquired a new position in KeyCorp (NYSE:KEY - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The fund acquired 18,594 shares of the financial services provider's stock, valued at approximately $319,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Whittier Trust Co. lifted its stake in shares of 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 acquiring an additional 800 shares in the last quarter. Ethos Financial Group LLC acquired a new position in shares of KeyCorp in the 4th quarter valued at approximately $27,000. SBI Securities Co. Ltd. purchased a new position in shares of KeyCorp during the 4th quarter valued at approximately $34,000. TCTC Holdings LLC boosted its stake 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 buying an additional 611 shares during the last quarter. Finally, Whipplewood Advisors LLC acquired a new stake in shares of KeyCorp during the fourth quarter worth approximately $45,000. 79.69% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Of Nova Scotia Bank acquired 50,000 shares of the firm's stock in a transaction dated 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 acquisition, the director now directly owns 162,983,726 shares of the company's stock, valued at approximately $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 is available through the SEC website. Corporate insiders own 0.67% of the company's stock.

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KeyCorp Stock Performance

Shares of KEY traded down $0.04 during mid-day trading on Friday, reaching $13.71. 15,718,525 shares of the company's stock traded hands, compared to its average volume of 13,026,608. KeyCorp has a 12 month low of $12.73 and a 12 month high of $20.04. The stock has a market capitalization of $15.02 billion, a P/E ratio of -45.68, a price-to-earnings-growth ratio of 0.65 and a beta of 1.06. The business's 50-day moving average price is $16.11 and its 200-day moving average price is $17.22. 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 declared that its Board of Directors has initiated a stock repurchase plan on Thursday, March 13th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 6% of its stock through open market purchases. Stock buyback plans are often an indication that the company's board believes its shares are undervalued.

KeyCorp Announces Dividend

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 $0.205 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $0.82 annualized dividend and a dividend yield of 5.98%. KeyCorp's payout ratio is -273.33%.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Citigroup reduced their price objective on shares of KeyCorp from $20.00 to $19.00 and set a "buy" rating on the stock in a research note on Monday, March 24th. Keefe, Bruyette & Woods decreased their price target on KeyCorp from $22.00 to $21.00 and set an "outperform" rating for the company in a research note on Wednesday, January 22nd. Truist Financial lowered their price objective on KeyCorp from $19.00 to $18.00 and set a "hold" rating for the company in a report on Friday, March 21st. Barclays increased their target price on KeyCorp from $19.00 to $21.00 and gave the stock an "equal weight" rating in a report on Monday, January 6th. Finally, Stephens reiterated an "overweight" rating and issued a $20.00 price target on shares of KeyCorp in a report on Wednesday, January 22nd. Seven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, KeyCorp has an average rating of "Moderate Buy" and an average target price of $19.31.

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.