Headlands Technologies LLC Makes New $400,000 Investment in KeyCorp (NYSE:KEY)

Headlands Technologies LLC bought a new stake in KeyCorp (NYSE:KEY - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 23,330 shares of the financial services provider's stock, valued at approximately $400,000.

A number of other institutional investors have also recently made changes to their positions in KEY. Geode Capital Management LLC lifted its holdings in KeyCorp by 7.6% in the 4th quarter. Geode Capital Management LLC now owns 23,349,979 shares of the financial services provider's stock valued at $399,169,000 after purchasing an additional 1,647,332 shares in the last quarter. StoneX Group Inc. lifted its stake in shares of KeyCorp by 20.8% in the fourth quarter. StoneX Group Inc. now owns 129,832 shares of the financial services provider's stock worth $2,225,000 after buying an additional 22,366 shares in the last quarter. National Bank of Canada FI boosted its position in KeyCorp by 162.4% during the fourth quarter. National Bank of Canada FI now owns 2,191,485 shares of the financial services provider's stock worth $37,562,000 after acquiring an additional 1,356,217 shares during the last quarter. B. Metzler seel. Sohn & Co. AG grew its stake in KeyCorp by 14.8% during the 4th quarter. B. Metzler seel. Sohn & Co. AG now owns 185,381 shares of the financial services provider's stock valued at $3,175,000 after acquiring an additional 23,962 shares in the last quarter. Finally, Summit Financial LLC grew its stake in KeyCorp by 51.1% during the 4th quarter. Summit Financial LLC now owns 15,315 shares of the financial services provider's stock valued at $262,000 after acquiring an additional 5,179 shares in the last quarter. 79.69% of the stock is owned by institutional investors and hedge funds.

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Insiders Place Their Bets

In related news, Director Of Nova Scotia Bank acquired 50,000 shares of the business's stock in a transaction dated Wednesday, February 5th. The shares were acquired 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 of the company's stock, 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 legal filing with the SEC, which can be accessed through this hyperlink. 0.67% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on KEY shares. Wells Fargo & Company lowered their target price on KeyCorp from $22.00 to $20.00 and set an "overweight" rating on the stock in a report on Friday, March 28th. Keefe, Bruyette & Woods lowered their price objective on KeyCorp from $22.00 to $21.00 and set an "outperform" rating on the stock in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. cut their target price on KeyCorp from $18.50 to $16.50 and set a "neutral" rating for the company in a research note on Thursday, April 3rd. Citigroup reduced their price target on KeyCorp from $20.00 to $19.00 and set a "buy" rating on the stock in a report on Monday, March 24th. Finally, Truist Financial cut their price objective on shares of KeyCorp from $19.00 to $18.00 and set a "hold" rating for the company in a research report on Friday, March 21st. Seven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $19.31.

KeyCorp Trading Up 9.7 %

NYSE KEY traded up $1.28 during trading on Wednesday, hitting $14.51. The stock had a trading volume of 28,754,701 shares, compared to its average volume of 12,997,172. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $15.90 billion, a PE ratio of -48.37, a PEG ratio of 0.65 and a beta of 1.06. The firm has a 50 day moving average price of $16.27 and a 200 day moving average price of $17.26. KeyCorp has a twelve month low of $12.73 and a twelve month high of $20.04.

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

KeyCorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Tuesday, March 4th were paid a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 5.65%. The ex-dividend date of this dividend was Tuesday, March 4th. KeyCorp's payout ratio is currently -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.