New York Life Investment Management LLC Grows Stake in KeyCorp (NYSE:KEY)

New York Life Investment Management LLC increased its holdings in KeyCorp (NYSE:KEY) by 0.4% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 246,659 shares of the financial services provider’s stock after buying an additional 1,078 shares during the period. New York Life Investment Management LLC’s holdings in KeyCorp were worth $4,228,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Azora Capital LP purchased a new stake in shares of KeyCorp in the 3rd quarter valued at about $92,413,000. Thrivent Financial for Lutherans increased its position in shares of KeyCorp by 108.3% in the third quarter. Thrivent Financial for Lutherans now owns 5,852,233 shares of the financial services provider’s stock worth $98,025,000 after purchasing an additional 3,042,060 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in KeyCorp by 164.9% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,660,680 shares of the financial services provider’s stock valued at $78,066,000 after purchasing an additional 2,900,971 shares in the last quarter. Victory Capital Management Inc. lifted its position in KeyCorp by 279.6% during the third quarter. Victory Capital Management Inc. now owns 3,788,173 shares of the financial services provider’s stock valued at $63,452,000 after purchasing an additional 2,790,192 shares during the last quarter. Finally, National Pension Service grew its stake in KeyCorp by 1,124.8% in the 4th quarter. National Pension Service now owns 1,679,582 shares of the financial services provider’s stock worth $28,788,000 after buying an additional 1,542,456 shares in the last quarter. Institutional investors own 79.69% of the company’s stock.

Insiders Place Their Bets

In related news, Director Of Nova Scotia Bank acquired 50,000 shares of KeyCorp stock in a transaction on Wednesday, February 5th. The shares were acquired at an average cost of $17.85 per share, with a total value of $892,500.00. Following the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.61% of the company’s stock.

KeyCorp Price Performance

KEY stock opened at $17.33 on Friday. The stock has a market capitalization of $19.15 billion, a price-to-earnings ratio of -57.76, a PEG ratio of 0.65 and a beta of 1.26. The firm’s 50-day moving average price is $17.48 and its two-hundred day moving average price is $17.48. 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 12-month low of $13.10 and a 12-month high of $20.04.

KeyCorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th will be given a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 4.73%. The ex-dividend date is Tuesday, March 4th. KeyCorp’s payout ratio is -273.33%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on KEY shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $18.00 price objective on shares of KeyCorp in a report on Wednesday, January 22nd. Stephens reaffirmed an “overweight” rating and set a $20.00 price target on shares of KeyCorp in a research note on Wednesday, January 22nd. Truist Financial assumed coverage on KeyCorp in a research report on Tuesday, January 7th. They set a “hold” rating and a $19.00 price objective on the stock. The Goldman Sachs Group boosted their target price on KeyCorp from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Finally, Wells Fargo & Company increased their price target on shares of KeyCorp from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Nine analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $19.69.

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.