Quantbot Technologies LP Raises Holdings in KeyCorp (NYSE:KEY)

Quantbot Technologies LP increased its position in shares of KeyCorp (NYSE:KEY - Free Report) by 36.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 755,782 shares of the financial services provider's stock after purchasing an additional 201,136 shares during the period. KeyCorp accounts for 0.5% of Quantbot Technologies LP's portfolio, making the stock its 22nd largest holding. Quantbot Technologies LP owned 0.08% of KeyCorp worth $12,954,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its position in shares of KeyCorp by 4.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 33,058,682 shares of the financial services provider's stock valued at $566,626,000 after acquiring an additional 1,452,179 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in KeyCorp by 3.2% during 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 lifted its holdings in KeyCorp by 5.5% in 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 purchasing an additional 322,150 shares in the last quarter. 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 worth $101,916,000 after purchasing an additional 2,157,901 shares during the period. Finally, Azora Capital LP purchased a new stake in KeyCorp during the 3rd quarter valued at approximately $92,413,000. Institutional investors own 79.69% of the company's stock.

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Analyst Ratings Changes

KEY has been the topic of several research analyst reports. 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 report on Tuesday, December 3rd. The Goldman Sachs Group boosted their price target on shares of KeyCorp from $20.00 to $23.00 and gave the stock a "buy" rating in a research note on Tuesday, November 26th. Morgan Stanley reduced their target price on KeyCorp from $22.00 to $20.00 and set an "equal weight" rating on the stock in a report on Thursday, March 13th. Stephens reissued an "overweight" rating and set a $20.00 price target on shares of KeyCorp in a research note on Wednesday, January 22nd. Finally, Truist Financial reduced their price objective on KeyCorp from $19.00 to $18.00 and set a "hold" rating on the stock in a research note on Friday, March 21st. Eight research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $19.53.

Insider Transactions at KeyCorp

In related news, Director Of Nova Scotia Bank purchased 50,000 shares of the business'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 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 purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.61% of the company's stock.

KeyCorp Trading Down 1.1 %

NYSE:KEY traded down $0.18 during mid-day trading on Wednesday, hitting $16.40. 12,792,652 shares of the stock traded hands, compared to its average volume of 12,105,724. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.77. KeyCorp has a 52 week low of $13.11 and a 52 week high of $20.04. The stock has a market capitalization of $18.12 billion, a price-to-earnings ratio of -54.65, a PEG ratio of 0.65 and a beta of 1.26. The firm's 50 day moving average is $17.05 and its two-hundred day moving average is $17.42.

KeyCorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th were paid a dividend of $0.205 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 5.00%. KeyCorp's dividend payout ratio is -273.33%.

KeyCorp declared that its Board of Directors has approved a share buyback program on Thursday, March 13th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its shares are undervalued.

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.