KeyCorp (NYSE:KEY) Holdings Lifted by Quantbot Technologies LP

Quantbot Technologies LP boosted its holdings in KeyCorp (NYSE:KEY) by 36.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 755,782 shares of the financial services provider’s stock after acquiring an additional 201,136 shares during the quarter. KeyCorp comprises about 0.5% of Quantbot Technologies LP’s investment portfolio, making the stock its 22nd biggest holding. Quantbot Technologies LP owned 0.08% of KeyCorp worth $12,954,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of KEY. Charles Schwab Investment Management Inc. grew 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 worth $566,626,000 after purchasing an additional 1,452,179 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in KeyCorp by 3.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,114,598 shares of the financial services provider’s stock worth $119,170,000 after buying an additional 222,187 shares during the last quarter. Thrivent Financial for Lutherans grew its position in KeyCorp by 5.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 6,174,383 shares of the financial services provider’s stock worth $105,829,000 after buying an additional 322,150 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of 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 buying an additional 2,157,901 shares in the last quarter. Finally, Azora Capital LP acquired a new stake in shares of KeyCorp during the 3rd quarter valued at $92,413,000. 79.69% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. 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. Citigroup raised KeyCorp from a “neutral” rating to a “buy” rating and set a $20.00 price target on the stock in a research note on Monday, March 10th. Truist Financial reduced their price objective on shares of KeyCorp from $19.00 to $18.00 and set a “hold” rating for the company in a research note on Friday. Keefe, Bruyette & Woods dropped 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. Finally, Royal Bank of Canada restated an “outperform” rating and set a $18.00 price target on shares of KeyCorp in a report on Wednesday, January 22nd. Eight research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $19.58.

KeyCorp Stock Performance

Shares of KEY stock opened at $16.14 on Friday. KeyCorp has a fifty-two week low of $13.11 and a fifty-two week high of $20.04. The stock’s 50-day moving average is $17.08 and its two-hundred day moving average is $17.40. 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 $17.83 billion, a P/E ratio of -53.78, a PEG ratio of 0.65 and a beta of 1.26.

KeyCorp Announces Dividend

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

KeyCorp declared that its board has approved a stock buyback program on Thursday, March 13th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the financial services provider to repurchase up to 6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at KeyCorp

In other KeyCorp news, Director Of Nova Scotia Bank purchased 50,000 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were bought at an average price of $17.85 per share, for a total transaction of $892,500.00. Following the purchase, the director now directly owns 162,983,726 shares in the company, valued at $2,909,259,509.10. This trade represents a 0.03 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.61% of the company’s stock.

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.