Asahi Life Asset Management CO. LTD. Purchases New Position in KeyCorp (NYSE:KEY)

Asahi Life Asset Management CO. LTD. purchased a new stake in shares of KeyCorp (NYSE:KEY - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 17,950 shares of the financial services provider's stock, valued at approximately $308,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. increased its position in shares of KeyCorp by 3.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 31,606,503 shares of the financial services provider's stock valued at $529,409,000 after acquiring an additional 993,942 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of KeyCorp by 3.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,114,598 shares of the financial services provider's stock valued at $119,170,000 after purchasing an additional 222,187 shares during the period. Thrivent Financial for Lutherans grew its stake in KeyCorp by 108.3% in the third quarter. Thrivent Financial for Lutherans now owns 5,852,233 shares of the financial services provider's stock worth $98,025,000 after purchasing an additional 3,042,060 shares during the period. Azora Capital LP purchased a new position in KeyCorp during the third quarter valued at $92,413,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in shares of KeyCorp by 164.9% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,660,680 shares of the financial services provider's stock valued at $78,066,000 after buying an additional 2,900,971 shares in the last quarter. 79.69% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

KEY has been the topic of a number of recent research reports. Piper Sandler upped their price objective on shares of KeyCorp from $19.00 to $22.00 and gave the stock an "overweight" rating in a report on Tuesday, December 3rd. Morgan Stanley reduced their price objective on KeyCorp from $23.00 to $22.00 and set an "equal weight" rating for the company in a research report on Wednesday, January 22nd. Truist Financial initiated coverage on KeyCorp in a report on Tuesday, January 7th. They issued a "hold" rating and a $19.00 target price on the stock. The Goldman Sachs Group raised their price target on KeyCorp from $20.00 to $23.00 and gave the company a "buy" rating in a report on Tuesday, November 26th. Finally, Barclays upped their price target on shares of KeyCorp from $19.00 to $21.00 and gave the stock an "equal weight" rating in a research note on Monday, January 6th. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, KeyCorp presently has a consensus rating of "Moderate Buy" and an average price target of $19.69.

Insider Buying and Selling at KeyCorp

In related news, Director Of Nova Scotia Bank acquired 50,000 shares of the business's stock in a transaction on Wednesday, February 5th. The stock was acquired at an average cost of $17.85 per share, with a total value of $892,500.00. Following the acquisition, the director now directly owns 162,983,726 shares in the company, valued at $2,909,259,509.10. This represents a 0.03 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.61% of the company's stock.

KeyCorp Stock Performance

KeyCorp stock traded up $0.03 during midday trading on Wednesday, hitting $16.27. The stock had a trading volume of 16,463,695 shares, compared to its average volume of 11,911,471. KeyCorp has a 52-week low of $13.11 and a 52-week high of $20.04. The company has a market capitalization of $17.97 billion, a PE ratio of -54.21, a P/E/G ratio of 0.65 and a beta of 1.26. The firm's fifty day moving average is $17.45 and its two-hundred day moving average is $17.50. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.77.

KeyCorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Tuesday, March 4th will be issued a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 5.04%. The ex-dividend date of this dividend is Tuesday, March 4th. KeyCorp's dividend 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.