HighTower Advisors LLC reduced its holdings in shares of KeyCorp (NYSE:KEY - Free Report) by 12.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 177,803 shares of the financial services provider's stock after selling 24,878 shares during the quarter. HighTower Advisors LLC's holdings in KeyCorp were worth $3,048,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also bought and sold shares of the business. Ethos Financial Group LLC bought a new stake in shares of KeyCorp during the 4th quarter worth $27,000. Larson Financial Group LLC raised its position in KeyCorp by 90.8% in the third quarter. Larson Financial Group LLC now owns 1,929 shares of the financial services provider's stock worth $32,000 after acquiring an additional 918 shares during the period. SBI Securities Co. Ltd. purchased a new position in KeyCorp in the fourth quarter valued at about $34,000. Whipplewood Advisors LLC bought a new position in shares of KeyCorp during the 4th quarter valued at approximately $45,000. Finally, Crews Bank & Trust purchased a new stake in shares of KeyCorp during the 4th quarter worth approximately $51,000. Hedge funds and other institutional investors own 79.69% of the company's stock.
KeyCorp Price Performance
KEY traded up $0.01 during trading on Tuesday, reaching $16.58. The stock had a trading volume of 14,952,358 shares, compared to its average volume of 12,079,671. The business has a 50-day moving average of $17.07 and a 200-day moving average of $17.41. KeyCorp has a one year low of $13.11 and a one year 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 stock has a market cap of $18.32 billion, a PE ratio of -55.26, a PEG ratio of 0.65 and a beta of 1.26.
KeyCorp announced that its board has authorized a share repurchase plan on Thursday, March 13th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's management believes its stock is undervalued.
KeyCorp Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th were paid a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 4.95%. The ex-dividend date was Tuesday, March 4th. KeyCorp's dividend payout ratio is currently -273.33%.
Insider Buying and Selling at KeyCorp
In other KeyCorp news, Director Of Nova Scotia Bank bought 50,000 shares of the firm's stock in a transaction that occurred on Wednesday, February 5th. The shares were bought at an average price of $17.85 per share, for a total transaction of $892,500.00. Following the transaction, the director now directly owns 162,983,726 shares in the company, valued at $2,909,259,509.10. This trade represents a 0.03 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.61% of the company's stock.
Analyst Ratings Changes
KEY has been the subject of a number of recent research reports. DA Davidson decreased their target price on KeyCorp from $22.00 to $21.00 and set a "buy" rating for the company in a research report on Wednesday, January 22nd. The Goldman Sachs Group lifted their price objective on KeyCorp from $20.00 to $23.00 and gave the stock a "buy" rating in a report on Tuesday, November 26th. Barclays upped their price objective on shares of KeyCorp from $19.00 to $21.00 and gave the company an "equal weight" rating in a report on Monday, January 6th. Keefe, Bruyette & Woods reduced their target price on shares of KeyCorp from $22.00 to $21.00 and set an "outperform" rating for the company in a research note on Wednesday, January 22nd. Finally, Piper Sandler upped their price target on shares of KeyCorp from $19.00 to $22.00 and gave the company an "overweight" rating in a research note on Tuesday, December 3rd. Eight analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $19.53.
Get Our Latest Stock Report on KeyCorp
About KeyCorp
(
Free Report)
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.
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