Proficio Capital Partners LLC Purchases New Shares in KeyCorp (NYSE:KEY)

Proficio Capital Partners LLC bought a new position in KeyCorp (NYSE:KEY - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 88,614 shares of the financial services provider's stock, valued at approximately $1,519,000.

Other institutional investors have also made changes to their positions in the company. Larson Financial Group LLC boosted its stake in KeyCorp by 90.8% in the 3rd quarter. Larson Financial Group LLC now owns 1,929 shares of the financial services provider's stock worth $32,000 after purchasing an additional 918 shares during the period. SBI Securities Co. Ltd. purchased a new position in shares of KeyCorp during the fourth quarter valued at $34,000. Whipplewood Advisors LLC purchased a new position in shares of KeyCorp during the fourth quarter valued at $45,000. Crews Bank & Trust acquired a new position in KeyCorp during the fourth quarter valued at $51,000. Finally, R Squared Ltd purchased a new stake in KeyCorp in the 4th quarter worth about $55,000. 79.69% of the stock is owned by hedge funds and other institutional investors.

KeyCorp Stock Performance

KEY stock traded up $0.47 on Monday, reaching $16.62. 12,005,472 shares of the company were exchanged, compared to its average volume of 12,081,300. The firm has a market capitalization of $18.36 billion, a PE ratio of -55.38, a PEG ratio of 0.65 and a beta of 1.26. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.85 and a quick ratio of 0.84. KeyCorp has a 12 month low of $13.11 and a 12 month high of $20.04. The stock's fifty day moving average price is $17.08 and its 200 day moving average price is $17.41.

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KeyCorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th were issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.94%. The ex-dividend date of this dividend was Tuesday, March 4th. KeyCorp's payout ratio is -273.33%.

KeyCorp declared that its board has approved a share buyback plan 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 purchase up to 6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $18.50 target price on shares of KeyCorp in a report on Monday, February 3rd. DA Davidson dropped their price objective on shares of KeyCorp from $22.00 to $21.00 and set a "buy" rating on the stock in a research note on Wednesday, January 22nd. Morgan Stanley lowered their price target on shares of KeyCorp from $22.00 to $20.00 and set an "equal weight" rating on the stock in a report on Thursday, March 13th. Barclays increased their price objective on KeyCorp from $19.00 to $21.00 and gave the stock an "equal weight" rating in a report on Monday, January 6th. Finally, The Goldman Sachs Group boosted their target price on KeyCorp from $20.00 to $23.00 and gave the company a "buy" rating in a research note on Tuesday, November 26th. Eight analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $19.53.

Insider Buying and Selling

In other news, Director Of Nova Scotia Bank bought 50,000 shares of the stock in a transaction dated 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 acquisition, the director now 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 filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.61% of the company's stock.

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.