Quantbot Technologies LP Acquires 201,136 Shares of KeyCorp (NYSE:KEY)

Quantbot Technologies LP raised its position in KeyCorp (NYSE:KEY) by 36.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 755,782 shares of the financial services provider’s stock after buying an additional 201,136 shares during the quarter. KeyCorp makes up about 0.5% of Quantbot Technologies LP’s investment portfolio, making the stock its 22nd biggest holding. Quantbot Technologies LP’s holdings in KeyCorp were worth $12,954,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of KEY. Whittier Trust Co. boosted its position in shares of KeyCorp by 110.3% during the fourth quarter. Whittier Trust Co. now owns 1,525 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 800 shares in the last quarter. Ethos Financial Group LLC acquired a new position in KeyCorp during the fourth quarter worth $27,000. Larson Financial Group LLC increased its stake 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 valued at $32,000 after buying an additional 918 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in KeyCorp in the fourth quarter valued at approximately $34,000. Finally, TCTC Holdings LLC boosted its holdings in shares of KeyCorp by 38.6% in the 4th quarter. TCTC Holdings LLC now owns 2,195 shares of the financial services provider’s stock valued at $38,000 after buying an additional 611 shares during the last quarter. Institutional investors own 79.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on KEY shares. Royal Bank of Canada reiterated an “outperform” rating and set a $18.00 target price on shares of KeyCorp in a research note on Wednesday, January 22nd. Citigroup upgraded shares of KeyCorp from a “neutral” rating to a “buy” rating and set a $20.00 price target on the stock in a research report on Monday, March 10th. Barclays boosted their target price on KeyCorp from $19.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. Keefe, Bruyette & Woods lowered their price target on shares of KeyCorp from $22.00 to $21.00 and set an “outperform” rating for the company in a report on Wednesday, January 22nd. Finally, The Goldman Sachs Group upped their price objective on KeyCorp from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Eight analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $19.58.

Insiders Place Their Bets

In related news, Director Of Nova Scotia Bank purchased 50,000 shares of the firm’s stock in a transaction that occurred on 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 acquisition, the director now owns 162,983,726 shares of the company’s stock, valued at approximately $2,909,259,509.10. This represents a 0.03 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.61% of the stock is currently owned by corporate insiders.

KeyCorp Trading Up 0.3 %

Shares of KEY stock opened at $16.14 on Friday. 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 company has a market cap of $17.83 billion, a price-to-earnings ratio of -53.78, a PEG ratio of 0.65 and a beta of 1.26. KeyCorp has a 1 year low of $13.11 and a 1 year high of $20.04. The firm has a fifty day moving average price of $17.08 and a 200-day moving average price of $17.40.

KeyCorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders 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 dividend on an annualized basis and a yield of 5.08%. KeyCorp’s payout ratio is presently -273.33%.

KeyCorp announced that its Board of Directors has authorized a stock repurchase program on Thursday, March 13th that allows the company to repurchase $1.00 billion in 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 often a sign that the company’s board believes its shares are undervalued.

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.