Mediolanum International Funds Ltd Acquires Shares of 1,112,134 KeyCorp (NYSE:KEY)

Mediolanum International Funds Ltd bought a new position in KeyCorp (NYSE:KEY - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,112,134 shares of the financial services provider's stock, valued at approximately $18,982,000. Mediolanum International Funds Ltd owned about 0.11% of KeyCorp at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Crews Bank & Trust purchased a new stake in shares of KeyCorp during the fourth quarter valued at $51,000. Swedbank AB boosted its position in shares of KeyCorp by 11.4% during the fourth quarter. Swedbank AB now owns 475,761 shares of the financial services provider's stock valued at $8,155,000 after buying an additional 48,695 shares during the last quarter. Hantz Financial Services Inc. boosted its position in shares of KeyCorp by 3.5% during the fourth quarter. Hantz Financial Services Inc. now owns 452,830 shares of the financial services provider's stock valued at $7,762,000 after buying an additional 15,487 shares during the last quarter. R Squared Ltd purchased a new stake in shares of KeyCorp during the fourth quarter valued at $55,000. Finally, Perigon Wealth Management LLC boosted its position in shares of KeyCorp by 11.0% during the fourth quarter. Perigon Wealth Management LLC now owns 20,169 shares of the financial services provider's stock valued at $360,000 after buying an additional 2,005 shares during the last quarter. 79.69% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Wells Fargo & Company increased their target price on KeyCorp from $20.00 to $22.00 and gave the company an "overweight" rating in a report on Friday, November 15th. Truist Financial assumed coverage on KeyCorp in a report on Tuesday, January 7th. They issued a "hold" rating and a $19.00 target price on the stock. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $18.50 target price on shares of KeyCorp in a report on Monday. The Goldman Sachs Group increased their target price on KeyCorp from $20.00 to $23.00 and gave the company a "buy" rating in a report on Tuesday, November 26th. Finally, Stephens reissued an "overweight" rating and issued a $20.00 target price on shares of KeyCorp in a report on Wednesday, January 22nd. Nine equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $19.69.

KeyCorp Price Performance

KEY traded up $0.35 on Tuesday, hitting $17.82. 6,196,589 shares of the company's stock traded hands, compared to its average volume of 13,341,049. The company's 50 day simple moving average is $17.85 and its 200-day simple moving average is $17.22. The firm has a market cap of $17.66 billion, a price-to-earnings ratio of -59.38, a P/E/G ratio of 0.66 and a beta of 1.26. KeyCorp has a one year low of $13.10 and a one year high of $20.04. 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Tuesday, March 4th will be paid a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 4.60%. The ex-dividend date is Tuesday, March 4th. KeyCorp's dividend payout ratio (DPR) is presently -273.32%.

Insider Activity at KeyCorp

In related news, insider Angela G. Mago sold 15,011 shares of KeyCorp stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $19.59, for a total transaction of $294,065.49. Following the sale, the insider now owns 234,582 shares of the company's stock, valued at approximately $4,595,461.38. This trade represents a 6.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.67% of the stock is owned by corporate insiders.

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.