KeyCorp (NYSE:KEY) Shares Sold by Tredje AP fonden

Tredje AP fonden lowered its stake in shares of KeyCorp (NYSE:KEY - Free Report) by 13.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 236,697 shares of the financial services provider's stock after selling 36,697 shares during the quarter. Tredje AP fonden's holdings in KeyCorp were worth $4,057,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Avantax Advisory Services Inc. raised its stake in shares of KeyCorp by 7.9% in the fourth quarter. Avantax Advisory Services Inc. now owns 77,711 shares of the financial services provider's stock valued at $1,332,000 after acquiring an additional 5,706 shares during the period. Securian Asset Management Inc. boosted its stake in shares of KeyCorp by 3.8% during the 4th quarter. Securian Asset Management Inc. now owns 53,275 shares of the financial services provider's stock worth $913,000 after purchasing an additional 1,943 shares during the period. Sequoia Financial Advisors LLC grew its holdings in KeyCorp by 8.6% during the 4th quarter. Sequoia Financial Advisors LLC now owns 65,712 shares of the financial services provider's stock valued at $1,126,000 after purchasing an additional 5,231 shares during the last quarter. Net Worth Advisory Group purchased a new stake in KeyCorp in the 4th quarter worth about $297,000. Finally, Independent Advisor Alliance bought a new stake in KeyCorp in the fourth quarter worth about $183,000. Hedge funds and other institutional investors own 79.69% of the company's stock.

KeyCorp Stock Up 0.3 %

NYSE:KEY traded up $0.06 during trading hours on Tuesday, reaching $15.86. The company's stock had a trading volume of 10,329,151 shares, compared to its average volume of 11,859,442. The stock has a 50 day moving average price of $17.16 and a two-hundred day moving average price of $17.43. 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 company has a market capitalization of $17.52 billion, a P/E ratio of -52.85, a price-to-earnings-growth ratio of 0.65 and a beta of 1.26. KeyCorp has a 12 month low of $13.11 and a 12 month high of $20.04.

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KeyCorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th were given a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 5.17%. The ex-dividend date of this dividend was Tuesday, March 4th. KeyCorp's payout ratio is -273.33%.

KeyCorp declared that its Board of Directors has initiated a share repurchase program 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 reacquire up to 6% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on KEY. Keefe, Bruyette & Woods cut their target price on KeyCorp from $22.00 to $21.00 and set an "outperform" rating on the stock in a research note on Wednesday, January 22nd. Barclays upped their price objective on KeyCorp from $19.00 to $21.00 and gave the company an "equal weight" rating in a research report on Monday, January 6th. Citigroup upgraded KeyCorp from a "neutral" rating to a "buy" rating and set a $20.00 target price for the company in a research report on Monday, March 10th. Piper Sandler boosted their target price on shares of KeyCorp from $19.00 to $22.00 and gave the company an "overweight" rating in a research note on Tuesday, December 3rd. Finally, JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $18.50 price target on shares of KeyCorp in a research note on Monday, February 3rd. Eight research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $19.64.

Insider Buying and Selling

In other news, Director Of Nova Scotia Bank bought 50,000 shares of KeyCorp stock in a transaction 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 acquisition, the director now owns 162,983,726 shares of the company's stock, valued at $2,909,259,509.10. This trade represents a 0.03 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.61% of the stock is currently owned by company insiders.

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.