StoneX Group Inc. Acquires 22,366 Shares of KeyCorp (NYSE:KEY)

StoneX Group Inc. boosted its position in KeyCorp (NYSE:KEY - Free Report) by 20.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 129,832 shares of the financial services provider's stock after purchasing an additional 22,366 shares during the period. StoneX Group Inc.'s holdings in KeyCorp were worth $2,225,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in KEY. Townsquare Capital LLC lifted its stake in KeyCorp by 34.0% during the third quarter. Townsquare Capital LLC now owns 34,715 shares of the financial services provider's stock valued at $581,000 after purchasing an additional 8,814 shares during the last quarter. Glenmede Trust Co. NA lifted its holdings in shares of KeyCorp by 14.3% during the third quarter. Glenmede Trust Co. NA now owns 67,102 shares of the financial services provider's stock valued at $1,124,000 after purchasing an additional 8,399 shares during the last quarter. Public Sector Pension Investment Board increased 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 worth $2,710,000 after purchasing an additional 1,900 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in KeyCorp during the 3rd quarter worth about $185,000. Finally, Paloma Partners Management Co lifted its stake in KeyCorp by 364.8% during the third quarter. Paloma Partners Management Co now owns 58,500 shares of the financial services provider's stock valued at $980,000 after buying an additional 45,915 shares in the last quarter. 79.69% of the stock is owned by institutional investors.

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KeyCorp Stock Performance

KEY traded down $0.67 during trading on Friday, hitting $13.45. The stock had a trading volume of 23,356,702 shares, compared to its average volume of 12,715,053. The firm has a market cap of $14.74 billion, a PE ratio of -44.83, a P/E/G ratio of 0.65 and a beta of 1.06. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.77. KeyCorp has a 12 month low of $12.73 and a 12 month high of $20.04. The company has a 50 day simple moving average of $16.67 and a 200-day simple moving average of $17.37.

KeyCorp declared that its board has approved a stock repurchase 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 shares through open market purchases. Shares repurchase plans are often 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. Investors 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 yield of 6.10%. KeyCorp's payout ratio is -273.33%.

Insider Buying and Selling at KeyCorp

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, for a total transaction of $892,500.00. Following the completion of the purchase, the director now owns 162,983,726 shares in the company, valued at approximately $2,909,259,509.10. This represents a 0.03 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.61% of the company's stock.

Wall Street Analyst Weigh In

KEY has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods cut their price target on shares of KeyCorp from $22.00 to $21.00 and set an "outperform" rating on the stock in a report on Wednesday, January 22nd. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $18.00 target price on shares of KeyCorp in a research report on Wednesday, January 22nd. Wells Fargo & Company dropped their price target on KeyCorp from $22.00 to $20.00 and set an "overweight" rating on the stock in a research report on Friday, March 28th. Barclays upped their target price on KeyCorp from $19.00 to $21.00 and gave the company an "equal weight" rating in a report on Monday, January 6th. Finally, Citigroup decreased their price target on shares of KeyCorp from $20.00 to $19.00 and set a "buy" rating for the company in a report on Monday, March 24th. Eight research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $19.31.

KeyCorp 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.