KeyCorp (NYSE:KEY) Shares Purchased by Lbp Am Sa

LBP AM SA lifted its stake in shares of KeyCorp (NYSE:KEY - Free Report) by 714.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 230,358 shares of the financial services provider's stock after purchasing an additional 202,069 shares during the quarter. LBP AM SA's holdings in KeyCorp were worth $3,948,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. grew its holdings in shares of KeyCorp by 4.6% during the 4th 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 purchasing an additional 1,452,179 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position 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 worth $119,170,000 after buying an additional 222,187 shares during the period. Victory Capital Management Inc. boosted its position in KeyCorp by 57.0% during 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 buying an additional 2,157,901 shares during the period. Thrivent Financial for Lutherans boosted its position in KeyCorp by 108.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 5,852,233 shares of the financial services provider's stock worth $98,025,000 after buying an additional 3,042,060 shares during the period. Finally, Azora Capital LP acquired a new stake in KeyCorp during the 3rd quarter worth approximately $92,413,000. 79.69% of the stock is owned by institutional investors.

Remove Ads

KeyCorp Stock Performance

Shares of KeyCorp stock traded up $0.06 on Thursday, reaching $16.11. 15,325,561 shares of the stock were exchanged, compared to its average volume of 11,886,880. The business has a 50 day moving average price of $17.11 and a two-hundred day moving average price of $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. The firm has a market capitalization of $17.80 billion, a price-to-earnings ratio of -53.69, a PEG ratio of 0.65 and a beta of 1.26. KeyCorp has a twelve month low of $13.11 and a twelve month high of $20.04.

KeyCorp declared that its board has initiated a stock buyback program on Thursday, March 13th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's management believes its shares are undervalued.

KeyCorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th were given a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 5.09%. The ex-dividend date was Tuesday, March 4th. KeyCorp's dividend payout ratio (DPR) is presently -273.33%.

Insider Buying and Selling

In related news, Director Of Nova Scotia Bank acquired 50,000 shares of the stock in a transaction on Wednesday, February 5th. The shares were bought at an average price of $17.85 per share, with a total value of $892,500.00. Following the completion of the purchase, 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.61% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Truist Financial assumed coverage on shares of KeyCorp in a research report on Tuesday, January 7th. They set a "hold" rating and a $19.00 target price on the stock. DA Davidson dropped their price target on shares of KeyCorp from $22.00 to $21.00 and set a "buy" rating on the stock in a research report on Wednesday, January 22nd. Stephens restated an "overweight" rating and issued a $20.00 price target on shares of KeyCorp in a research report on Wednesday, January 22nd. Royal Bank of Canada restated an "outperform" rating and set a $18.00 price target on shares of KeyCorp in a research note on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. reissued a "neutral" rating and issued a $18.50 price target on shares of KeyCorp in a report on Monday, February 3rd. Eight analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, KeyCorp presently has a consensus rating of "Moderate Buy" and a consensus target price of $19.64.

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.