Natixis Advisors LLC Raises Stock Position in KeyCorp (NYSE:KEY)

Natixis Advisors LLC boosted its stake in shares of KeyCorp (NYSE:KEY - Free Report) by 10.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 761,384 shares of the financial services provider's stock after acquiring an additional 71,915 shares during the period. Natixis Advisors LLC owned 0.08% of KeyCorp worth $13,050,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Principal Financial Group Inc. grew its stake in KeyCorp by 3.4% during the fourth quarter. Principal Financial Group Inc. now owns 1,117,238 shares of the financial services provider's stock valued at $19,149,000 after acquiring an additional 36,424 shares in the last quarter. Truist Financial Corp lifted its position in KeyCorp by 27.1% during the fourth quarter. Truist Financial Corp now owns 95,856 shares of the financial services provider's stock valued at $1,643,000 after purchasing an additional 20,424 shares during the last quarter. Avanza Fonder AB bought a new position in KeyCorp during the fourth quarter valued at $1,618,000. Dai ichi Life Insurance Company Ltd bought a new position in KeyCorp during the third quarter valued at $798,000. Finally, Prospector Partners LLC bought a new position in KeyCorp during the third quarter valued at $9,630,000. 79.69% of the stock is owned by hedge funds and other institutional investors.

KeyCorp Stock Up 0.3 %

NYSE KEY traded up $0.05 during trading on Friday, reaching $16.14. 57,103,933 shares of the company's stock traded hands, compared to its average volume of 12,081,629. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.85 and a quick ratio of 0.84. The firm has a market cap of $17.83 billion, a price-to-earnings ratio of -53.78, a price-to-earnings-growth ratio of 0.65 and a beta of 1.26. The company's 50 day simple moving average is $17.08 and its two-hundred day simple moving average is $17.40. KeyCorp has a 12-month low of $13.11 and a 12-month high of $20.04.

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

KeyCorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th were given a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 5.08%. The ex-dividend date of this dividend was Tuesday, March 4th. KeyCorp's dividend payout ratio (DPR) is -273.33%.

Insider Buying and Selling at KeyCorp

In other KeyCorp news, Director Of Nova Scotia Bank bought 50,000 shares of the business's stock in a transaction on Wednesday, February 5th. The shares were acquired at an average price of $17.85 per share, with a total value of $892,500.00. Following the transaction, the director now owns 162,983,726 shares of the company's stock, valued at approximately $2,909,259,509.10. This trade represents a 0.03 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.61% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Stephens reiterated an "overweight" rating and set a $20.00 price objective on shares of KeyCorp in a research report on Wednesday, January 22nd. Morgan Stanley lowered their target price on shares of KeyCorp from $22.00 to $20.00 and set an "equal weight" rating for the company in a report on Thursday, March 13th. Royal Bank of Canada restated an "outperform" rating and issued a $18.00 target price on shares of KeyCorp in a report on Wednesday, January 22nd. Barclays raised their target price on shares of KeyCorp from $19.00 to $21.00 and gave the stock an "equal weight" rating in a report on Monday, January 6th. Finally, Citigroup upgraded shares of KeyCorp from a "neutral" rating to a "buy" rating and set a $20.00 target price for the company in a report on Monday, March 10th. Eight investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, KeyCorp has an average rating of "Moderate Buy" and an average price target of $19.58.

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.