KeyCorp (NYSE:KEY) Shares Bought by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC lifted its holdings in KeyCorp (NYSE:KEY) by 8.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 65,712 shares of the financial services provider’s stock after purchasing an additional 5,231 shares during the period. Sequoia Financial Advisors LLC’s holdings in KeyCorp were worth $1,126,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ethos Financial Group LLC bought a new position in shares of KeyCorp in the fourth quarter valued at $27,000. Larson Financial Group LLC raised its position in shares of KeyCorp by 90.8% during the third 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. SBI Securities Co. Ltd. purchased a new stake in shares of KeyCorp during the fourth quarter valued at $34,000. Venturi Wealth Management LLC boosted its position in shares of KeyCorp by 62.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,526 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 975 shares during the period. Finally, Whipplewood Advisors LLC purchased a new position in KeyCorp in the 4th quarter worth about $45,000. 79.69% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on KEY shares. DA Davidson decreased their target price on shares of KeyCorp from $22.00 to $21.00 and set a “buy” rating for the company in a report on Wednesday, January 22nd. Stephens reiterated an “overweight” rating and set a $20.00 price objective on shares of KeyCorp in a research report on Wednesday, January 22nd. Morgan Stanley decreased their target price on KeyCorp from $22.00 to $20.00 and set an “equal weight” rating for the company in a research report on Thursday. Royal Bank of Canada reissued an “outperform” rating and set a $18.00 price target on shares of KeyCorp in a research report on Wednesday, January 22nd. Finally, Citigroup upgraded KeyCorp from a “neutral” rating to a “buy” rating and set a $20.00 price objective for the company in a research report on Monday, March 10th. Eight analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $19.64.

Insider Transactions at KeyCorp

In related news, Director Of Nova Scotia Bank bought 50,000 shares of KeyCorp stock in a transaction that occurred on Wednesday, February 5th. The stock was purchased at an average cost of $17.85 per share, for a total transaction of $892,500.00. Following the acquisition, the director now owns 162,983,726 shares in the company, valued at $2,909,259,509.10. This trade represents a 0.03 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.61% of the stock is currently owned by corporate insiders.

KeyCorp Stock Up 3.5 %

KeyCorp stock opened at $15.68 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.77. KeyCorp has a 1-year low of $13.11 and a 1-year high of $20.04. The firm’s fifty day simple moving average is $17.19 and its 200-day simple moving average is $17.43. The company has a market capitalization of $17.32 billion, a P/E ratio of -52.25, a P/E/G ratio of 0.65 and a beta of 1.26.

KeyCorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th were given a $0.205 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 5.23%. KeyCorp’s dividend payout ratio is currently -273.33%.

KeyCorp announced that its board has initiated a stock buyback program on Thursday, March 13th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the financial services provider to repurchase up to 6% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

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.