iA Global Asset Management Inc. Has $1.58 Million Stock Holdings in KeyCorp (NYSE:KEY)

iA Global Asset Management Inc. lifted its holdings in shares of KeyCorp (NYSE:KEY - Free Report) by 34.9% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 92,192 shares of the financial services provider's stock after acquiring an additional 23,871 shares during the period. iA Global Asset Management Inc.'s holdings in KeyCorp were worth $1,580,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in KEY. Charles Schwab Investment Management Inc. lifted its stake in KeyCorp by 4.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 33,058,682 shares of the financial services provider's stock worth $566,626,000 after purchasing an additional 1,452,179 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings 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 worth $119,170,000 after buying an additional 222,187 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in shares of KeyCorp by 5.5% during the 4th quarter. Thrivent Financial for Lutherans now owns 6,174,383 shares of the financial services provider's stock worth $105,829,000 after buying an additional 322,150 shares during the period. Victory Capital Management Inc. boosted its stake in KeyCorp by 57.0% in the 4th quarter. Victory Capital Management Inc. now owns 5,946,074 shares of the financial services provider's stock valued at $101,916,000 after buying an additional 2,157,901 shares in the last quarter. Finally, Azora Capital LP bought a new stake in KeyCorp in the third quarter valued at $92,413,000. 79.69% of the stock is currently owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

KEY has been the subject of a number of analyst reports. Keefe, Bruyette & Woods cut their price objective on KeyCorp from $22.00 to $21.00 and set an "outperform" rating for the company in a report on Wednesday, January 22nd. Royal Bank of Canada restated an "outperform" rating and issued a $18.00 price target on shares of KeyCorp in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $18.50 price objective on shares of KeyCorp in a report on Monday, February 3rd. Citigroup reduced their target price on KeyCorp from $20.00 to $19.00 and set a "buy" rating on the stock in a report on Monday. Finally, DA Davidson dropped their price target on KeyCorp from $22.00 to $21.00 and set a "buy" rating for the company in a report on Wednesday, January 22nd. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, KeyCorp has a consensus rating of "Moderate Buy" and a consensus price target of $19.53.

Insiders Place Their Bets

In other news, Director Of Nova Scotia Bank bought 50,000 shares of the business's stock in a transaction on Wednesday, February 5th. The shares were bought at an average cost of $17.85 per share, for a total transaction of $892,500.00. Following the completion of the acquisition, 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.61% of the company's stock.

KeyCorp Trading Down 1.1 %

Shares of KEY stock traded down $0.18 during trading hours on Wednesday, reaching $16.40. The company had a trading volume of 12,792,652 shares, compared to its average volume of 12,105,724. KeyCorp has a 1-year low of $13.11 and a 1-year high of $20.04. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.85 and a quick ratio of 0.84. The firm has a market cap of $18.12 billion, a price-to-earnings ratio of -54.65, a P/E/G ratio of 0.65 and a beta of 1.26. The company has a 50 day moving average of $17.05 and a 200 day moving average of $17.42.

KeyCorp Announces Dividend

The business 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 5.00%. The ex-dividend date was Tuesday, March 4th. KeyCorp's payout ratio is -273.33%.

KeyCorp announced that its board 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 stock through open market purchases. Stock repurchase plans are generally an indication that the company's leadership believes its shares are 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.