Cibc World Markets Corp Has $2.64 Million Stock Holdings in KeyCorp (NYSE:KEY)

Cibc World Markets Corp trimmed its position in shares of KeyCorp (NYSE:KEY - Free Report) by 14.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 154,239 shares of the financial services provider's stock after selling 26,432 shares during the period. Cibc World Markets Corp's holdings in KeyCorp were worth $2,644,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of KeyCorp by 4.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 33,058,682 shares of the financial services provider's stock worth $566,626,000 after acquiring an additional 1,452,179 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in KeyCorp by 3.2% during the third 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 in the last quarter. Victory Capital Management Inc. lifted its stake in KeyCorp by 57.0% during the fourth quarter. Victory Capital Management Inc. now owns 5,946,074 shares of the financial services provider's stock worth $101,916,000 after purchasing an additional 2,157,901 shares during the last quarter. Azora Capital LP bought a new position in shares of KeyCorp in the 3rd quarter valued at $92,413,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised 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 worth $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.

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Analyst Upgrades and Downgrades

A number of research analysts have issued reports on KEY shares. Keefe, Bruyette & Woods decreased their target price on KeyCorp from $22.00 to $21.00 and set an "outperform" rating on the stock in a research report on Wednesday, January 22nd. Morgan Stanley decreased their price target on shares of KeyCorp from $22.00 to $20.00 and set an "equal weight" rating on the stock in a report on Thursday, March 13th. Truist Financial dropped their price objective on shares of KeyCorp from $19.00 to $18.00 and set a "hold" rating for the company in a research note on Friday. Piper Sandler boosted their target price on shares of KeyCorp from $19.00 to $22.00 and gave the stock an "overweight" rating in a research note on Tuesday, December 3rd. Finally, JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $18.50 price target on shares of KeyCorp in a research note on Monday, February 3rd. Eight investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, KeyCorp has an average rating of "Moderate Buy" and a consensus target price of $19.53.

Insider Buying and Selling

In related news, Director Of Nova Scotia Bank purchased 50,000 shares of the firm's stock in a transaction on Wednesday, February 5th. The stock was purchased at an average cost of $17.85 per share, with a total value of $892,500.00. Following the completion of the purchase, the director now owns 162,983,726 shares in the company, valued at approximately $2,909,259,509.10. This trade represents a 0.03 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.61% of the stock is owned by insiders.

KeyCorp Trading Up 0.1 %

KEY stock traded up $0.01 during mid-day trading on Tuesday, reaching $16.58. The company's stock had a trading volume of 14,952,537 shares, compared to its average volume of 12,079,671. The company has a market cap of $18.32 billion, a price-to-earnings ratio of -55.26, a price-to-earnings-growth ratio of 0.65 and a beta of 1.26. KeyCorp has a 12 month low of $13.11 and a 12 month high of $20.04. The business's 50 day moving average price is $17.07 and its 200 day moving average price is $17.41. 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 business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Tuesday, March 4th were given a dividend of $0.205 per share. The ex-dividend date was Tuesday, March 4th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.95%. KeyCorp's payout ratio is presently -273.33%.

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

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.