Virtu Financial LLC Acquires Shares of 59,182 KeyCorp (NYSE:KEY)

Virtu Financial LLC acquired a new stake in KeyCorp (NYSE:KEY - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 59,182 shares of the financial services provider's stock, valued at approximately $1,014,000.

Several other institutional investors and hedge funds have also modified their holdings of the company. Quantbot Technologies LP raised its holdings in KeyCorp by 36.3% in the 4th quarter. Quantbot Technologies LP now owns 755,782 shares of the financial services provider's stock valued at $12,954,000 after acquiring an additional 201,136 shares during the last quarter. Summit Global Investments acquired a new position in KeyCorp in the fourth quarter valued at $1,023,000. HUB Investment Partners LLC boosted its stake in KeyCorp by 37.7% in the 4th quarter. HUB Investment Partners LLC now owns 16,547 shares of the financial services provider's stock worth $284,000 after buying an additional 4,531 shares during the last quarter. Whittier Trust Co. grew its holdings in KeyCorp by 110.3% in the 4th quarter. Whittier Trust Co. now owns 1,525 shares of the financial services provider's stock valued at $26,000 after buying an additional 800 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in KeyCorp by 4.3% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 210,770 shares of the financial services provider's stock valued at $3,613,000 after buying an additional 8,728 shares during the period. Hedge funds and other institutional investors own 79.69% of the company's stock.

Insider Activity at KeyCorp

In other KeyCorp news, Director Of Nova Scotia Bank acquired 50,000 shares of the company's stock in a transaction on Wednesday, February 5th. The shares were bought at an average cost of $17.85 per share, for a total transaction 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. This trade represents a 0.03 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.61% of the stock is currently owned by company insiders.

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KeyCorp Stock Down 1.5 %

KeyCorp stock traded down $0.25 during midday trading on Thursday, hitting $16.16. 13,081,242 shares of the stock were exchanged, compared to its average volume of 12,120,462. KeyCorp has a 1 year low of $13.11 and a 1 year high of $20.04. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.85 and a quick ratio of 0.84. The firm has a market cap of $17.85 billion, a P/E ratio of -53.85, a P/E/G ratio of 0.65 and a beta of 1.26. The company has a 50 day moving average price of $17.01 and a two-hundred day moving average price of $17.41.

KeyCorp announced that its Board of Directors has initiated a share repurchase program on Thursday, March 13th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 6% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's management believes its shares are undervalued.

KeyCorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th were given a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 5.08%. The ex-dividend date was Tuesday, March 4th. KeyCorp's payout ratio is -273.33%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on KEY shares. Piper Sandler raised their target price 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. Royal Bank of Canada reiterated an "outperform" rating and issued a $18.00 price target on shares of KeyCorp in a report on Wednesday, January 22nd. DA Davidson dropped their price objective on KeyCorp from $22.00 to $21.00 and set a "buy" rating for the company in a report on Wednesday, January 22nd. Morgan Stanley cut their target price on KeyCorp from $22.00 to $20.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 13th. Finally, Stephens reissued an "overweight" rating and set a $20.00 price target on shares of KeyCorp in a research report on Wednesday, January 22nd. Eight analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat, KeyCorp presently has an average rating of "Moderate Buy" and an average price target of $19.53.

KeyCorp Company 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.