Merit Financial Group LLC Raises Stock Holdings in KeyCorp (NYSE:KEY)

Merit Financial Group LLC lifted its stake in shares of KeyCorp (NYSE:KEY - Free Report) by 153.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 58,407 shares of the financial services provider's stock after purchasing an additional 35,385 shares during the quarter. Merit Financial Group LLC's holdings in KeyCorp were worth $1,001,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Avanza Fonder AB bought a new stake in KeyCorp during the fourth quarter worth $1,618,000. Wealthcare Advisory Partners LLC lifted its position in shares of KeyCorp by 6.5% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 132,489 shares of the financial services provider's stock worth $2,271,000 after buying an additional 8,067 shares during the last quarter. Tallon Kerry Patrick acquired a new stake in KeyCorp in the fourth quarter valued at about $248,000. Contravisory Investment Management Inc. grew its position in KeyCorp by 1.7% in the fourth quarter. Contravisory Investment Management Inc. now owns 47,002 shares of the financial services provider's stock valued at $806,000 after acquiring an additional 791 shares during the last quarter. Finally, CHURCHILL MANAGEMENT Corp raised its stake in KeyCorp by 5.9% during the fourth quarter. CHURCHILL MANAGEMENT Corp now owns 465,333 shares of the financial services provider's stock worth $7,976,000 after acquiring an additional 26,047 shares in the last quarter. Institutional investors and hedge funds own 79.69% of the company's stock.

Insider Buying and Selling at KeyCorp

In other news, Director Carlton L. Highsmith sold 9,000 shares of the business's stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $17.14, for a total transaction of $154,260.00. Following the completion of the sale, the director now directly owns 37,864 shares of the company's stock, valued at $648,988.96. The trade was a 19.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Angela G. Mago sold 15,011 shares of the firm's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $19.59, for a total transaction of $294,065.49. Following the completion of the transaction, the insider now directly owns 234,582 shares in the company, valued at approximately $4,595,461.38. The trade was a 6.01 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.67% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on KEY shares. Royal Bank of Canada reiterated an "outperform" rating and set a $18.00 price target on shares of KeyCorp in a report on Wednesday. Piper Sandler increased their target price on KeyCorp from $19.00 to $22.00 and gave the company an "overweight" rating in a research report on Tuesday, December 3rd. Wedbush boosted their price target on KeyCorp from $17.00 to $18.00 and gave the stock a "neutral" rating in a report on Tuesday, September 24th. Robert W. Baird downgraded shares of KeyCorp from an "outperform" rating to a "neutral" rating and cut their target price for the stock from $18.00 to $17.00 in a research report on Monday, October 14th. Finally, Barclays upped their price target on shares of KeyCorp from $19.00 to $21.00 and gave the company an "equal weight" rating in a research report on Monday, January 6th. Nine equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $19.58.

KeyCorp Stock Down 1.8 %

KEY traded down $0.33 during midday trading on Wednesday, hitting $17.32. The company had a trading volume of 17,230,798 shares, compared to its average volume of 14,240,270. The company has a market capitalization of $17.16 billion, a price-to-earnings ratio of 1,731.50, a PEG ratio of 0.69 and a beta of 1.27. The stock's 50 day moving average price is $18.13 and its 200 day moving average price is $17.06. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.09. KeyCorp has a 52 week low of $13.10 and a 52 week high of $20.04.

KeyCorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th will be issued a $0.205 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $0.82 annualized dividend and a yield of 4.74%. KeyCorp's payout ratio is currently 8,200.00%.

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.