Tallon Kerry Patrick Purchases New Stake in KeyCorp (NYSE:KEY)

Tallon Kerry Patrick acquired a new position in shares of KeyCorp (NYSE:KEY - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 14,591 shares of the financial services provider's stock, valued at approximately $248,000.

A number of other institutional investors also recently made changes to their positions in KEY. Acadian Asset Management LLC bought a new stake in shares of KeyCorp in the second quarter valued at about $283,000. Oppenheimer Asset Management Inc. raised its stake in KeyCorp by 40.3% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 82,111 shares of the financial services provider's stock worth $1,167,000 after purchasing an additional 23,604 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in KeyCorp by 4.3% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,922,921 shares of the financial services provider's stock valued at $27,325,000 after purchasing an additional 78,856 shares during the period. Dimensional Fund Advisors LP grew its position in shares of KeyCorp by 2.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 10,508,853 shares of the financial services provider's stock worth $149,299,000 after purchasing an additional 300,339 shares in the last quarter. Finally, Edgestream Partners L.P. acquired a new position in shares of KeyCorp during the 2nd quarter worth approximately $2,570,000. Institutional investors own 79.69% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on KEY. Truist Financial assumed coverage on KeyCorp in a research note on Tuesday, January 7th. They issued a "hold" rating and a $19.00 price target for the company. UBS Group upped their target price on KeyCorp from $17.00 to $18.00 and gave the company a "neutral" rating in a research report on Wednesday, October 23rd. Wells Fargo & Company raised their price target on KeyCorp from $20.00 to $22.00 and gave the stock an "overweight" rating in a research report on Friday, November 15th. Piper Sandler upped their price objective on shares of KeyCorp from $19.00 to $22.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 3rd. Finally, Barclays boosted their target price on shares of KeyCorp from $19.00 to $21.00 and gave the company an "equal weight" rating in a research report on Monday, January 6th. Nine equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, KeyCorp currently has an average rating of "Moderate Buy" and an average target price of $19.44.

Insider Buying and Selling

In related news, insider Angela G. Mago sold 15,011 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $19.59, for a total transaction of $294,065.49. Following the transaction, the insider now directly owns 234,582 shares of the company's stock, valued at $4,595,461.38. This represents a 6.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Carlton L. Highsmith sold 9,000 shares of KeyCorp stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $17.14, for a total transaction of $154,260.00. Following the completion of the sale, the director now directly owns 37,864 shares of the company's stock, valued at approximately $648,988.96. This trade represents a 19.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by insiders.

KeyCorp Trading Up 2.7 %

Shares of NYSE:KEY traded up $0.48 during trading on Friday, reaching $18.32. The stock had a trading volume of 17,405,857 shares, compared to its average volume of 12,775,615. KeyCorp has a 52 week low of $12.94 and a 52 week high of $20.04. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.88 and a current ratio of 0.88. The firm's fifty day moving average is $18.22 and its 200 day moving average is $16.94. The stock has a market cap of $18.16 billion, a price-to-earnings ratio of 1,832.30, a P/E/G ratio of 0.63 and a beta of 1.27.

KeyCorp (NYSE:KEY - Get Free Report) last issued its quarterly earnings results on Thursday, October 17th. The financial services provider reported $0.30 EPS for the quarter, beating analysts' consensus estimates of $0.27 by $0.03. KeyCorp had a net margin of 0.76% and a return on equity of 8.24%. The business had revenue of $1.60 billion for the quarter, compared to analysts' expectations of $1.59 billion. As a group, equities analysts forecast that KeyCorp will post 1.1 EPS for the current fiscal year.

KeyCorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Tuesday, March 4th will be paid a dividend of $0.205 per share. The ex-dividend date is Tuesday, March 4th. This represents a $0.82 annualized dividend and a yield of 4.48%. KeyCorp's dividend payout ratio is currently 8,200.00%.

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.