MFG Wealth Management Inc. Takes $1.18 Million Position in KeyCorp (NYSE:KEY)

MFG Wealth Management Inc. acquired a new position in KeyCorp (NYSE:KEY - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 68,890 shares of the financial services provider's stock, valued at approximately $1,181,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brookstone Capital Management increased its position in KeyCorp by 14.7% in the third quarter. Brookstone Capital Management now owns 11,681 shares of the financial services provider's stock worth $196,000 after purchasing an additional 1,501 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in shares of KeyCorp by 628.9% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 8,113 shares of the financial services provider's stock valued at $136,000 after acquiring an additional 7,000 shares in the last quarter. Creative Planning boosted its position in KeyCorp by 2.9% during the 3rd quarter. Creative Planning now owns 142,257 shares of the financial services provider's stock valued at $2,383,000 after acquiring an additional 3,964 shares in the last quarter. Vontobel Holding Ltd. grew its position in shares of KeyCorp by 2.1% in the 3rd quarter. Vontobel Holding Ltd. now owns 33,728 shares of the financial services provider's stock worth $565,000 after buying an additional 679 shares during the last quarter. Finally, Wolff Wiese Magana LLC raised its stake in KeyCorp by 285.5% in the third quarter. Wolff Wiese Magana LLC now owns 1,542 shares of the financial services provider's stock valued at $26,000 after buying an additional 1,142 shares during the last quarter. 79.69% of the stock is currently owned by institutional investors.

KeyCorp Price Performance

Shares of NYSE KEY traded up $0.25 during trading on Friday, hitting $17.73. 8,283,918 shares of the company were exchanged, compared to its average volume of 13,900,512. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.85 and a quick ratio of 0.84. KeyCorp has a 1 year low of $13.10 and a 1 year high of $20.04. The firm's fifty day moving average price is $17.59 and its 200 day moving average price is $17.32. The company has a market cap of $17.57 billion, a price-to-earnings ratio of -59.08, a PEG ratio of 0.66 and a beta of 1.26.

KeyCorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th will be paid a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 4.63%. The ex-dividend date is Tuesday, March 4th. KeyCorp's dividend payout ratio (DPR) is -273.33%.

Analyst Upgrades and Downgrades

KEY has been the subject of a number of research reports. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $18.50 price target on shares of KeyCorp in a research report on Monday, February 3rd. Stephens reiterated an "overweight" rating and set a $20.00 price objective on shares of KeyCorp in a research note on Wednesday, January 22nd. Morgan Stanley decreased their price objective on KeyCorp from $23.00 to $22.00 and set an "equal weight" rating on the stock in a report on Wednesday, January 22nd. Barclays upped their price target on KeyCorp from $19.00 to $21.00 and gave the stock an "equal weight" rating in a research note on Monday, January 6th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $18.00 price objective on shares of KeyCorp in a research report on Wednesday, January 22nd. Nine equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat.com, KeyCorp presently has an average rating of "Moderate Buy" and an average target price of $19.69.

Insider Buying and Selling at KeyCorp

In other KeyCorp news, Director Of Nova Scotia Bank purchased 50,000 shares of KeyCorp stock in a transaction on Wednesday, February 5th. The shares were bought at an average price of $17.85 per share, with a total value 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. This trade represents a 0.03 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.61% of the stock is owned by corporate insiders.

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.