Chevy Chase Trust Holdings LLC Acquires 23,293 Shares of KeyCorp (NYSE:KEY)

Chevy Chase Trust Holdings LLC increased its position in shares of KeyCorp (NYSE:KEY - Free Report) by 4.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 520,955 shares of the financial services provider's stock after buying an additional 23,293 shares during the quarter. Chevy Chase Trust Holdings LLC owned about 0.05% of KeyCorp worth $8,929,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in KEY. Financial Advocates Investment Management grew its holdings in shares of KeyCorp by 2.3% during the third quarter. Financial Advocates Investment Management now owns 26,872 shares of the financial services provider's stock valued at $450,000 after buying an additional 602 shares during the last quarter. HM Payson & Co. lifted its position in KeyCorp by 27.0% in the 3rd quarter. HM Payson & Co. now owns 3,060 shares of the financial services provider's stock valued at $51,000 after acquiring an additional 650 shares in the last quarter. Graypoint LLC boosted its stake in KeyCorp by 4.7% during the 3rd quarter. Graypoint LLC now owns 14,954 shares of the financial services provider's stock valued at $250,000 after purchasing an additional 675 shares during the last quarter. Vontobel Holding Ltd. increased its holdings in KeyCorp by 2.1% during the 3rd quarter. Vontobel Holding Ltd. now owns 33,728 shares of the financial services provider's stock worth $565,000 after purchasing an additional 679 shares in the last quarter. Finally, Ballentine Partners LLC raised its stake in shares of KeyCorp by 5.7% in the fourth quarter. Ballentine Partners LLC now owns 12,855 shares of the financial services provider's stock worth $220,000 after purchasing an additional 692 shares during the last quarter. Institutional investors own 79.69% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on KEY. Truist Financial began coverage on KeyCorp in a research report on Tuesday, January 7th. They set a "hold" rating and a $19.00 target price on the stock. Morgan Stanley cut their price objective on shares of KeyCorp from $23.00 to $22.00 and set an "equal weight" rating on the stock in a report on Wednesday, January 22nd. Wells Fargo & Company increased their target price on shares of KeyCorp from $20.00 to $22.00 and gave the company an "overweight" rating in a report on Friday, November 15th. Barclays boosted their price target on shares of KeyCorp from $19.00 to $21.00 and gave the stock an "equal weight" rating in a report on Monday, January 6th. Finally, Piper Sandler upped their target price on KeyCorp from $19.00 to $22.00 and gave the company an "overweight" rating in a report on Tuesday, December 3rd. Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, KeyCorp has an average rating of "Moderate Buy" and an average price target of $19.69.

KeyCorp Stock Performance

Shares of NYSE KEY traded down $0.64 during midday trading on Friday, hitting $16.94. The company's stock had a trading volume of 14,267,950 shares, compared to its average volume of 12,620,343. The firm has a market capitalization of $16.80 billion, a price-to-earnings ratio of -56.47, a P/E/G ratio of 0.67 and a beta of 1.26. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.77. The stock has a fifty day moving average price of $17.54 and a 200 day moving average price of $17.37. KeyCorp has a one year low of $13.10 and a one year high of $20.04.

KeyCorp Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Tuesday, March 4th. This represents a $0.82 dividend on an annualized basis and a yield of 4.84%. KeyCorp's payout ratio is -273.33%.

Insider Buying and Selling at KeyCorp

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

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.