Corient Private Wealth LLC Has $7.47 Million Stock Position in KeyCorp (NYSE:KEY)

Corient Private Wealth LLC decreased its holdings in shares of KeyCorp (NYSE:KEY - Free Report) by 25.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 435,523 shares of the financial services provider's stock after selling 147,086 shares during the quarter. Corient Private Wealth LLC's holdings in KeyCorp were worth $7,465,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Azora Capital LP acquired a new stake in shares of KeyCorp during the third quarter worth $92,413,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in shares of KeyCorp by 164.9% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,660,680 shares of the financial services provider's stock worth $78,066,000 after buying an additional 2,900,971 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of KeyCorp in the 4th quarter valued at approximately $42,827,000. Victory Capital Management Inc. increased its stake in KeyCorp by 57.0% in the fourth quarter. Victory Capital Management Inc. now owns 5,946,074 shares of the financial services provider's stock valued at $101,916,000 after purchasing an additional 2,157,901 shares in the last quarter. Finally, National Pension Service boosted its position in shares of KeyCorp by 1,124.8% during the fourth quarter. National Pension Service now owns 1,679,582 shares of the financial services provider's stock worth $28,788,000 after purchasing an additional 1,542,456 shares in the last quarter. 79.69% of the stock is currently owned by institutional investors and hedge funds.

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Insider Buying and Selling

In related news, Director Of Nova Scotia Bank bought 50,000 shares of KeyCorp stock in a transaction that occurred on Wednesday, February 5th. The stock was acquired at an average price of $17.85 per share, with a total value of $892,500.00. Following the acquisition, the director now owns 162,983,726 shares of the company's stock, valued at approximately $2,909,259,509.10. This represents a 0.03 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.61% of the stock is owned by insiders.

KeyCorp Stock Performance

Shares of KEY stock traded up $0.01 on Tuesday, reaching $16.58. The stock had a trading volume of 14,952,537 shares, compared to its average volume of 12,079,671. KeyCorp has a 12 month low of $13.11 and a 12 month high of $20.04. The firm has a market capitalization of $18.32 billion, a price-to-earnings ratio of -55.26, a P/E/G ratio of 0.65 and a beta of 1.26. The firm's 50-day moving average is $17.07 and its two-hundred day moving average is $17.41. 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 announced that its Board of Directors has initiated a share repurchase program on Thursday, March 13th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the financial services provider to buy up to 6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its stock is undervalued.

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 annualized dividend and a dividend yield of 4.95%. KeyCorp's dividend payout ratio is currently -273.33%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on KEY. Piper Sandler upped their price objective on shares of KeyCorp from $19.00 to $22.00 and gave the company an "overweight" rating in a research report on Tuesday, December 3rd. Stephens reaffirmed an "overweight" rating and set a $20.00 price target on shares of KeyCorp in a research report on Wednesday, January 22nd. Keefe, Bruyette & Woods lowered their target price on KeyCorp from $22.00 to $21.00 and set an "outperform" rating for the company in a research note on Wednesday, January 22nd. Truist Financial dropped their target price on shares of KeyCorp from $19.00 to $18.00 and set a "hold" rating on the stock in a report on Friday. Finally, Morgan Stanley reduced their target price on shares of KeyCorp from $22.00 to $20.00 and set an "equal weight" rating for the company in a research note on Thursday, March 13th. Eight investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $19.53.

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.