National Bank of Canada FI Grows Stock Holdings in KeyCorp (NYSE:KEY)

National Bank of Canada FI boosted its stake in KeyCorp (NYSE:KEY - Free Report) by 162.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,191,485 shares of the financial services provider's stock after buying an additional 1,356,217 shares during the quarter. National Bank of Canada FI owned approximately 0.22% of KeyCorp worth $37,562,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Townsquare Capital LLC grew its holdings in shares of KeyCorp by 34.0% in the third quarter. Townsquare Capital LLC now owns 34,715 shares of the financial services provider's stock valued at $581,000 after acquiring an additional 8,814 shares in the last quarter. Public Sector Pension Investment Board grew its stake in KeyCorp by 1.2% in the 3rd quarter. Public Sector Pension Investment Board now owns 161,783 shares of the financial services provider's stock valued at $2,710,000 after purchasing an additional 1,900 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of KeyCorp during the 3rd quarter valued at $185,000. Benjamin Edwards Inc. bought a new stake in shares of KeyCorp during the 3rd quarter worth $406,000. Finally, Hilltop Holdings Inc. bought a new stake in shares of KeyCorp during the 3rd quarter worth $393,000. 79.69% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on KEY. Royal Bank of Canada restated an "outperform" rating and set a $18.00 price objective on shares of KeyCorp in a report on Wednesday, January 22nd. DA Davidson lowered their price target on shares of KeyCorp from $22.00 to $21.00 and set a "buy" rating on the stock in a report on Wednesday, January 22nd. Wells Fargo & Company dropped their price objective on KeyCorp from $22.00 to $20.00 and set an "overweight" rating on the stock in a research note on Friday, March 28th. Stephens reissued an "overweight" rating and issued a $20.00 target price on shares of KeyCorp in a research report on Wednesday, January 22nd. Finally, Keefe, Bruyette & Woods dropped their price target on KeyCorp from $22.00 to $21.00 and set an "outperform" rating on the stock in a research report on Wednesday, January 22nd. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $19.31.

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Insider Activity at KeyCorp

In other KeyCorp news, Director Of Nova Scotia Bank purchased 50,000 shares of the stock in a transaction on Wednesday, February 5th. The stock was acquired 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 directly owns 162,983,726 shares of the company's stock, 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 SEC, which is available at this hyperlink. 0.61% of the stock is currently owned by insiders.

KeyCorp Price Performance

Shares of NYSE:KEY traded down $0.10 on Monday, hitting $13.37. The company's stock had a trading volume of 16,279,033 shares, compared to its average volume of 14,063,918. KeyCorp has a 1 year low of $12.73 and a 1 year high of $20.04. The company has a market capitalization of $14.65 billion, a PE ratio of -44.58, a PEG ratio of 0.65 and a beta of 1.06. 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 company has a 50-day simple moving average of $16.67 and a 200 day simple moving average of $17.38.

KeyCorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders 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 annualized dividend and a dividend yield of 6.13%. KeyCorp's dividend payout ratio (DPR) is presently -273.33%.

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.

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.