Stoneridge Investment Partners LLC Buys Shares of 45,776 KeyCorp (NYSE:KEY)

Stoneridge Investment Partners LLC bought a new stake in KeyCorp (NYSE:KEY - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 45,776 shares of the financial services provider's stock, valued at approximately $785,000.

Several other hedge funds also recently modified their holdings of KEY. Wolff Wiese Magana LLC lifted its stake in shares of KeyCorp by 285.5% during the third quarter. Wolff Wiese Magana LLC now owns 1,542 shares of the financial services provider's stock valued at $26,000 after buying an additional 1,142 shares during the period. American Capital Advisory LLC acquired a new position in KeyCorp in the 3rd quarter valued at $28,000. Larson Financial Group LLC lifted its stake in shares of KeyCorp by 90.8% during 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. Catalyst Capital Advisors LLC acquired a new stake in shares of KeyCorp during the third quarter worth $35,000. Finally, Capital Performance Advisors LLP purchased a new stake in shares of KeyCorp in the third quarter valued at $38,000. 79.69% of the stock is owned by institutional investors and hedge funds.

KeyCorp Stock Up 0.3 %

Shares of NYSE KEY traded up $0.05 during midday trading on Wednesday, reaching $17.61. 13,884,400 shares of the company's stock were exchanged, compared to its average volume of 13,195,811. 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 has a 52-week low of $13.10 and a 52-week high of $20.04. The business's fifty day moving average price is $17.66 and its two-hundred day moving average price is $17.30. The stock has a market capitalization of $17.46 billion, a PE ratio of -58.70, a price-to-earnings-growth ratio of 0.66 and a beta of 1.26.

KeyCorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th will be given a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.66%. The ex-dividend date is Tuesday, March 4th. KeyCorp's payout ratio is currently -273.32%.

Insider Buying and Selling

In other news, Director Of Nova Scotia Bank purchased 50,000 shares of the firm's stock in a transaction that occurred on Wednesday, February 5th. The stock was acquired at an average cost of $17.85 per share, for a total transaction of $892,500.00. Following the completion of the purchase, 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 ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.61% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Truist Financial initiated coverage on KeyCorp in a research note on Tuesday, January 7th. They issued a "hold" rating and a $19.00 price target on the stock. Keefe, Bruyette & Woods decreased their target price on shares of KeyCorp from $22.00 to $21.00 and set an "outperform" rating on the stock in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. restated a "neutral" rating and issued a $18.50 target price on shares of KeyCorp in a report on Monday, February 3rd. The Goldman Sachs Group increased their price target on shares of KeyCorp from $20.00 to $23.00 and gave the stock a "buy" rating in a research note on Tuesday, November 26th. Finally, Morgan Stanley lowered their price objective on shares of KeyCorp from $23.00 to $22.00 and set an "equal weight" rating for the company in a research note on Wednesday, January 22nd. Nine analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $19.69.

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.