Insider Buying: KeyCorp (NYSE:KEY) Director Purchases 50,000 Shares of Stock

KeyCorp (NYSE:KEY - Get Free Report) Director Of Nova Scotia Bank bought 50,000 shares of the business's stock in a transaction dated Wednesday, February 5th. The stock was acquired at an average price of $17.85 per share, for a total transaction of $892,500.00. Following the purchase, the director now directly owns 162,983,726 shares in the company, valued at approximately $2,909,259,509.10. The trade was a 0.03 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.

KeyCorp Stock Up 0.2 %

Shares of KEY traded up $0.04 during trading hours on Tuesday, hitting $17.55. The company had a trading volume of 4,633,786 shares, compared to its average volume of 12,974,093. KeyCorp has a 52-week low of $13.10 and a 52-week high of $20.04. The firm has a fifty day moving average price of $17.68 and a 200-day moving average price of $17.29. The stock has a market capitalization of $17.39 billion, a price-to-earnings ratio of -58.53, a P/E/G ratio of 0.66 and a beta of 1.26. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.84 and a current ratio of 0.85.

KeyCorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Tuesday, March 4th will be issued a $0.205 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $0.82 dividend on an annualized basis and a yield of 4.67%. KeyCorp's payout ratio is currently -273.32%.

Analyst Ratings Changes

Several equities analysts recently commented on KEY shares. Stephens reiterated an "overweight" rating and issued a $20.00 price objective on shares of KeyCorp in a research note on Wednesday, January 22nd. The Goldman Sachs Group raised their price target on KeyCorp from $20.00 to $23.00 and gave the company a "buy" rating in a report on Tuesday, November 26th. DA Davidson cut their target price on shares of KeyCorp from $22.00 to $21.00 and set a "buy" rating for the company in a research report on Wednesday, January 22nd. Baird R W downgraded shares of KeyCorp from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 14th. Finally, Citigroup lowered KeyCorp from a "buy" rating to a "neutral" rating and set a $19.00 price target on the stock. in a research report on Thursday, November 7th. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $19.69.

Hedge Funds Weigh In On KeyCorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. lifted its holdings in shares of KeyCorp by 4.6% during the fourth 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of 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 valued at $119,170,000 after acquiring an additional 222,187 shares during the period. Thrivent Financial for Lutherans increased its position in KeyCorp by 5.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 6,174,383 shares of the financial services provider's stock worth $105,829,000 after buying an additional 322,150 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of KeyCorp by 57.0% in the fourth quarter. Victory Capital Management Inc. now owns 5,946,074 shares of the financial services provider's stock worth $101,916,000 after purchasing an additional 2,157,901 shares during the period. Finally, Azora Capital LP bought a new position in KeyCorp in the 3rd quarter worth $92,413,000. 79.69% of the stock is owned by institutional investors.

KeyCorp Company 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.