ABC Arbitrage SA Purchases Shares of 148,541 KeyCorp (NYSE:KEY)

ABC Arbitrage SA acquired a new stake in KeyCorp (NYSE:KEY - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 148,541 shares of the financial services provider's stock, valued at approximately $2,546,000.

Several other institutional investors have also added to or reduced their stakes in the company. Creative Planning raised its holdings in shares of KeyCorp by 2.9% during the 3rd quarter. Creative Planning now owns 142,257 shares of the financial services provider's stock worth $2,383,000 after buying an additional 3,964 shares in the last quarter. Vontobel Holding Ltd. raised its stake in KeyCorp by 2.1% during the third quarter. Vontobel Holding Ltd. now owns 33,728 shares of the financial services provider's stock worth $565,000 after acquiring an additional 679 shares in the last quarter. Wolff Wiese Magana LLC raised its stake in KeyCorp by 285.5% during the third quarter. Wolff Wiese Magana LLC now owns 1,542 shares of the financial services provider's stock worth $26,000 after acquiring an additional 1,142 shares in the last quarter. Trust Co. of Vermont lifted its holdings in shares of KeyCorp by 582.3% in the third quarter. Trust Co. of Vermont now owns 2,729 shares of the financial services provider's stock worth $46,000 after acquiring an additional 2,329 shares during the last quarter. Finally, Kohmann Bosshard Financial Services LLC boosted its stake in shares of KeyCorp by 107.2% in the 3rd quarter. Kohmann Bosshard Financial Services LLC now owns 21,979 shares of the financial services provider's stock valued at $368,000 after purchasing an additional 11,370 shares in the last quarter. 79.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on KEY shares. Citigroup downgraded shares of KeyCorp from a "buy" rating to a "neutral" rating and set a $19.00 price objective for the company. in a research note on Thursday, November 7th. UBS Group boosted their price objective on KeyCorp from $17.00 to $18.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 23rd. Piper Sandler increased their target price on KeyCorp from $19.00 to $22.00 and gave the company an "overweight" rating in a research report on Tuesday, December 3rd. The Goldman Sachs Group boosted their price target on KeyCorp from $20.00 to $23.00 and gave the stock a "buy" rating in a report on Tuesday, November 26th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of KeyCorp from $22.00 to $21.00 and set an "outperform" rating for the company in a report on Wednesday, January 22nd. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $19.69.

KeyCorp Trading Up 0.5 %

Shares of NYSE:KEY traded up $0.08 during midday trading on Wednesday, reaching $18.04. The company's stock had a trading volume of 7,650,409 shares, compared to its average volume of 12,640,237. KeyCorp has a fifty-two week low of $13.10 and a fifty-two week high of $20.04. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.84 and a current ratio of 0.85. The firm has a 50 day moving average price of $17.56 and a two-hundred day moving average price of $17.37. The firm has a market capitalization of $17.88 billion, a price-to-earnings ratio of -60.14, a PEG ratio of 0.66 and a beta of 1.26.

KeyCorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th will be issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.54%. The ex-dividend date of this dividend is Tuesday, March 4th. KeyCorp's payout ratio is -273.32%.

Insider Transactions at KeyCorp

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 bought at an average price of $17.85 per share, with a total value of $892,500.00. Following the transaction, the director now directly 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.67% of the company's stock.

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.