KeyCorp (NYSE:KEY) Position Decreased by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC decreased its holdings in shares of KeyCorp (NYSE:KEY) by 5.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 434,734 shares of the financial services provider’s stock after selling 27,234 shares during the period. Commonwealth Equity Services LLC’s holdings in KeyCorp were worth $7,451,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in KEY. Modera Wealth Management LLC lifted its stake in KeyCorp by 3.9% during the fourth quarter. Modera Wealth Management LLC now owns 16,521 shares of the financial services provider’s stock valued at $283,000 after buying an additional 627 shares in the last quarter. Ballentine Partners LLC lifted its stake in KeyCorp by 5.7% during the fourth quarter. Ballentine Partners LLC now owns 12,855 shares of the financial services provider’s stock valued at $220,000 after buying an additional 692 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in KeyCorp by 0.4% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 175,512 shares of the financial services provider’s stock valued at $3,008,000 after buying an additional 695 shares in the last quarter. Proactive Wealth Strategies LLC lifted its stake in KeyCorp by 4.1% during the fourth quarter. Proactive Wealth Strategies LLC now owns 17,886 shares of the financial services provider’s stock valued at $307,000 after buying an additional 699 shares in the last quarter. Finally, Brookstone Capital Management lifted its stake in KeyCorp by 6.3% during the fourth quarter. Brookstone Capital Management now owns 12,415 shares of the financial services provider’s stock valued at $213,000 after buying an additional 734 shares in the last quarter. Institutional investors own 79.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on KEY shares. Truist Financial started coverage on shares of KeyCorp in a research note on Tuesday, January 7th. They set a “hold” rating and a $19.00 price objective for the company. Morgan Stanley reduced their price target on shares of KeyCorp from $22.00 to $20.00 and set an “equal weight” rating for the company in a research report on Thursday, March 13th. Citigroup raised shares of KeyCorp from a “neutral” rating to a “buy” rating and set a $20.00 price target for the company in a research report on Monday, March 10th. Barclays increased their price target 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. Finally, Piper Sandler increased their price target 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. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $19.64.

KeyCorp Trading Up 0.4 %

Shares of KEY stock opened at $16.11 on Friday. KeyCorp has a 12 month low of $13.11 and a 12 month high of $20.04. 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 business’s 50 day moving average is $17.09 and its two-hundred day moving average is $17.40. The company has a market cap of $17.80 billion, a PE ratio of -53.69, a price-to-earnings-growth ratio of 0.65 and a beta of 1.26.

KeyCorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th were paid a $0.205 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $0.82 annualized dividend and a dividend yield of 5.09%. KeyCorp’s payout ratio is -273.33%.

KeyCorp announced that its Board of Directors has initiated a stock repurchase program on Thursday, March 13th that authorizes the company to repurchase $1.00 billion in outstanding 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 usually an indication that the company’s management believes its stock is undervalued.

Insider Transactions at KeyCorp

In related news, Director Of Nova Scotia Bank acquired 50,000 shares of the stock in a transaction dated Wednesday, February 5th. The shares were acquired at an average price of $17.85 per share, for a total transaction of $892,500.00. Following the completion of the purchase, the director now owns 162,983,726 shares in the company, valued at approximately $2,909,259,509.10. The trade was a 0.03 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.61% of the stock is currently owned by corporate insiders.

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.