Net Worth Advisory Group Acquires Shares of 17,329 KeyCorp (NYSE:KEY)

Net Worth Advisory Group bought a new position in shares of KeyCorp (NYSE:KEY - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 17,329 shares of the financial services provider's stock, valued at approximately $297,000.

Other large investors have also modified their holdings of the company. Azora Capital LP acquired a new stake in shares of KeyCorp in the third quarter valued at approximately $92,413,000. Thrivent Financial for Lutherans grew its holdings in KeyCorp by 108.3% in the 3rd quarter. Thrivent Financial for Lutherans now owns 5,852,233 shares of the financial services provider's stock valued at $98,025,000 after buying an additional 3,042,060 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in shares of KeyCorp by 164.9% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,660,680 shares of the financial services provider's stock worth $78,066,000 after acquiring an additional 2,900,971 shares during the period. Victory Capital Management Inc. boosted its position in shares of KeyCorp by 279.6% during the 3rd quarter. Victory Capital Management Inc. now owns 3,788,173 shares of the financial services provider's stock valued at $63,452,000 after acquiring an additional 2,790,192 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of KeyCorp during the 4th quarter valued at about $42,827,000. Hedge funds and other institutional investors own 79.69% of the company's stock.

Insider Activity

In related news, Director Of Nova Scotia Bank purchased 50,000 shares of the business's stock in a transaction on Wednesday, February 5th. The shares were bought at an average price of $17.85 per share, for a total transaction of $892,500.00. Following the acquisition, 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 acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.61% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Piper Sandler lifted their target price on shares of KeyCorp from $19.00 to $22.00 and gave the stock an "overweight" rating in a research note on Tuesday, December 3rd. Citigroup upgraded shares of KeyCorp from a "neutral" rating to a "buy" rating and set a $20.00 price target for the company in a report on Monday. Truist Financial assumed coverage on KeyCorp in a report on Tuesday, January 7th. They issued a "hold" rating and a $19.00 price objective on the stock. Barclays raised their target price on KeyCorp from $19.00 to $21.00 and gave the stock an "equal weight" rating in a research note on Monday, January 6th. Finally, Keefe, Bruyette & Woods lowered their price target on KeyCorp from $22.00 to $21.00 and set an "outperform" rating for the company in a report on Wednesday, January 22nd. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $19.75.

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KeyCorp Price Performance

Shares of KEY opened at $15.17 on Wednesday. The company has a market cap of $16.76 billion, a P/E ratio of -50.55, a PEG ratio of 0.65 and a beta of 1.26. KeyCorp has a fifty-two week low of $13.11 and a fifty-two 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 firm's 50 day moving average price is $17.29 and its 200 day moving average price is $17.47.

KeyCorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th will be paid a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 5.41%. The ex-dividend date is Tuesday, March 4th. KeyCorp's payout ratio is currently -273.33%.

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.

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