Cozad Asset Management Inc. Sells 1,932 Shares of KeyCorp (NYSE:KEY)

Cozad Asset Management Inc. cut its stake in KeyCorp (NYSE:KEY) by 1.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 123,271 shares of the financial services provider’s stock after selling 1,932 shares during the quarter. Cozad Asset Management Inc.’s holdings in KeyCorp were worth $2,113,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Ethos Financial Group LLC bought a new position in KeyCorp in the 4th quarter worth $27,000. Larson Financial Group LLC raised its holdings in KeyCorp by 90.8% in the 3rd 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 in the last quarter. SBI Securities Co. Ltd. bought a new position in KeyCorp in the 4th quarter worth $34,000. TCTC Holdings LLC raised its holdings in KeyCorp by 38.6% in the 4th quarter. TCTC Holdings LLC now owns 2,195 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 611 shares in the last quarter. Finally, Whipplewood Advisors LLC purchased a new stake in shares of KeyCorp in the 4th quarter worth about $45,000. 79.69% of the stock is currently owned by institutional investors.

KeyCorp Stock Performance

Shares of NYSE KEY opened at $15.81 on Tuesday. The firm’s 50-day moving average price is $17.16 and its 200-day moving average price is $17.43. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.77. The company has a market cap of $17.47 billion, a PE ratio of -52.68, a PEG ratio of 0.65 and a beta of 1.26. KeyCorp has a 52-week low of $13.11 and a 52-week high of $20.04.

KeyCorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th were issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 5.19%. 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 initiated a share repurchase program on Thursday, March 13th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on KEY shares. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $18.50 target price on shares of KeyCorp in a research report on Monday, February 3rd. Morgan Stanley reduced their target price on shares of KeyCorp from $22.00 to $20.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 13th. Piper Sandler upped 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. DA Davidson reduced their target price on shares of KeyCorp from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Wednesday, January 22nd. Finally, Barclays upped their target price on shares of KeyCorp from $19.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. Eight investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $19.64.

Insider Activity

In related 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 purchased at an average price of $17.85 per share, with a total value of $892,500.00. Following the acquisition, the director now directly owns 162,983,726 shares in the company, valued at $2,909,259,509.10. The trade was a 0.03 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.61% of the company’s stock.

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.