Schroder Investment Management Group Sells 455,421 Shares of KeyCorp (NYSE:KEY)

Schroder Investment Management Group reduced its position in shares of KeyCorp (NYSE:KEY - Free Report) by 46.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 523,200 shares of the financial services provider's stock after selling 455,421 shares during the period. Schroder Investment Management Group owned approximately 0.05% of KeyCorp worth $8,952,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of KEY. Vanguard Group Inc. boosted its stake in shares of KeyCorp by 7.1% during the fourth quarter. Vanguard Group Inc. now owns 116,932,760 shares of the financial services provider's stock valued at $2,004,228,000 after purchasing an additional 7,754,576 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of KeyCorp by 4.6% in the 4th 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 acquiring an additional 1,452,179 shares in the last quarter. Norges Bank bought a new position in KeyCorp during the fourth quarter worth $153,235,000. Thrivent Financial for Lutherans grew its stake in shares of KeyCorp by 5.5% in the 4th quarter. Thrivent Financial for Lutherans now owns 6,174,383 shares of the financial services provider's stock valued at $105,829,000 after buying an additional 322,150 shares during the period. Finally, Victory Capital Management Inc. grew its stake in 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 valued at $101,916,000 after acquiring an additional 2,157,901 shares during the period. 79.69% of the stock is currently owned by institutional investors.

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KeyCorp Stock Performance

NYSE KEY traded down $0.67 on Friday, hitting $13.45. 23,356,702 shares of the stock traded hands, compared to its average volume of 12,715,053. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.84 and a current ratio of 0.85. The business's fifty day moving average is $16.67 and its two-hundred day moving average is $17.37. KeyCorp has a 12 month low of $12.73 and a 12 month high of $20.04. The firm has a market capitalization of $14.74 billion, a price-to-earnings ratio of -44.83, a PEG ratio of 0.65 and a beta of 1.06.

KeyCorp announced that its board has initiated a share repurchase plan on Thursday, March 13th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to repurchase up to 6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board believes its stock is undervalued.

KeyCorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Tuesday, March 4th were issued a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 6.10%. The ex-dividend date of this dividend was Tuesday, March 4th. KeyCorp's dividend payout ratio (DPR) is currently -273.33%.

Insider Activity at KeyCorp

In other KeyCorp news, Director Of Nova Scotia Bank bought 50,000 shares of the 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 acquisition, the director now directly owns 162,983,726 shares of the company's stock, valued at $2,909,259,509.10. The trade was a 0.03 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.61% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

KEY has been the subject of a number of analyst reports. Stephens reiterated an "overweight" rating and set a $20.00 price objective on shares of KeyCorp in a report on Wednesday, January 22nd. Wells Fargo & Company decreased their price objective on KeyCorp from $22.00 to $20.00 and set an "overweight" rating for the company in a report on Friday, March 28th. Keefe, Bruyette & Woods dropped their target price on KeyCorp from $22.00 to $21.00 and set an "outperform" rating on the stock in a report on Wednesday, January 22nd. JPMorgan Chase & Co. decreased their price target on KeyCorp from $18.50 to $16.50 and set a "neutral" rating for the company in a report on Thursday. Finally, DA Davidson reduced their target price on shares of KeyCorp from $22.00 to $21.00 and set a "buy" rating for the company in a research note on Wednesday, January 22nd. Eight investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, KeyCorp has an average rating of "Moderate Buy" and a consensus price target of $19.31.

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.