Mirae Asset Global Investments Co. Ltd. Boosts Stake in KeyCorp (NYSE:KEY)

Mirae Asset Global Investments Co. Ltd. increased its holdings in KeyCorp (NYSE:KEY - Free Report) by 19.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 782,593 shares of the financial services provider's stock after acquiring an additional 124,680 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 0.08% of KeyCorp worth $13,459,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Financial Advocates Investment Management lifted its position in shares of KeyCorp by 2.3% in the 3rd quarter. Financial Advocates Investment Management now owns 26,872 shares of the financial services provider's stock worth $450,000 after purchasing an additional 602 shares during the period. HM Payson & Co. lifted its holdings in KeyCorp by 27.0% during the third quarter. HM Payson & Co. now owns 3,060 shares of the financial services provider's stock worth $51,000 after buying an additional 650 shares during the period. Graypoint LLC boosted its position in KeyCorp by 4.7% during the 3rd quarter. Graypoint LLC now owns 14,954 shares of the financial services provider's stock valued at $250,000 after acquiring an additional 675 shares in the last quarter. Vontobel Holding Ltd. increased its holdings in shares of KeyCorp by 2.1% in the 3rd quarter. Vontobel Holding Ltd. now owns 33,728 shares of the financial services provider's stock valued at $565,000 after acquiring an additional 679 shares during the period. Finally, Ballentine Partners LLC raised its position in shares of KeyCorp by 5.7% in the 4th quarter. Ballentine Partners LLC now owns 12,855 shares of the financial services provider's stock worth $220,000 after acquiring an additional 692 shares in the last quarter. 79.69% of the stock is currently owned by institutional investors.

KeyCorp Price Performance

Shares of KEY stock traded down $0.25 during mid-day trading on Monday, hitting $17.59. 4,480,682 shares of the stock were exchanged, compared to its average volume of 13,157,162. KeyCorp has a 52-week low of $13.10 and a 52-week high of $20.04. 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 company has a market cap of $17.44 billion, a PE ratio of -58.71, a price-to-earnings-growth ratio of 0.66 and a beta of 1.26. The firm has a fifty day moving average of $17.71 and a 200 day moving average of $17.28.

KeyCorp Announces Dividend

The firm also recently disclosed 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. This represents a $0.82 annualized dividend and a yield of 4.66%. The ex-dividend date of this dividend is Tuesday, March 4th. KeyCorp's payout ratio is currently -273.32%.

Insider Activity

In related news, Director Of Nova Scotia Bank bought 50,000 shares of the company's stock in a transaction dated Wednesday, February 5th. The shares were acquired at an average price of $17.85 per share, for a total transaction of $892,500.00. Following the completion of the transaction, the director now directly owns 162,983,726 shares in the company, valued at $2,909,259,509.10. This trade represents a 0.03 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.61% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on KEY shares. Truist Financial assumed coverage on KeyCorp in a research report on Tuesday, January 7th. They set a "hold" rating and a $19.00 price objective on the stock. Piper Sandler raised their price target on shares of KeyCorp from $19.00 to $22.00 and gave the company an "overweight" rating in a report on Tuesday, December 3rd. Robert W. Baird lowered shares of KeyCorp from an "outperform" rating to a "neutral" rating and reduced their price objective for the stock from $18.00 to $17.00 in a research note on Monday, October 14th. The Goldman Sachs Group raised their target price on shares of KeyCorp from $20.00 to $23.00 and gave the company a "buy" rating in a research note on Tuesday, November 26th. Finally, Barclays upped their price target on KeyCorp from $19.00 to $21.00 and gave the stock an "equal weight" rating in a research report on Monday, January 6th. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $19.69.

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.