Natixis Advisors LLC Raises Position in KeyCorp (NYSE:KEY)

Natixis Advisors LLC lifted its stake in shares of KeyCorp (NYSE:KEY) by 10.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 761,384 shares of the financial services provider’s stock after acquiring an additional 71,915 shares during the period. Natixis Advisors LLC’s holdings in KeyCorp were worth $13,050,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Azora Capital LP acquired a new stake in KeyCorp in the third quarter valued at approximately $92,413,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in KeyCorp by 164.9% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,660,680 shares of the financial services provider’s stock worth $78,066,000 after buying an additional 2,900,971 shares during the period. Raymond James Financial Inc. acquired a new position in KeyCorp in the 4th quarter worth $42,827,000. Victory Capital Management Inc. boosted its position in KeyCorp by 57.0% in the 4th quarter. Victory Capital Management Inc. now owns 5,946,074 shares of the financial services provider’s stock valued at $101,916,000 after buying an additional 2,157,901 shares during the last quarter. Finally, National Pension Service grew its stake in shares of KeyCorp by 1,124.8% during the fourth quarter. National Pension Service now owns 1,679,582 shares of the financial services provider’s stock valued at $28,788,000 after acquiring an additional 1,542,456 shares in the last quarter. 79.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

KEY has been the topic of several recent analyst reports. Morgan Stanley cut their price target on KeyCorp from $22.00 to $20.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 13th. Keefe, Bruyette & Woods reduced their target price on KeyCorp from $22.00 to $21.00 and set an “outperform” rating for the company in a research note on Wednesday, January 22nd. Truist Financial assumed coverage on shares of KeyCorp in a research note on Tuesday, January 7th. They issued a “hold” rating and a $19.00 price target for the company. Citigroup upgraded shares of KeyCorp from a “neutral” rating to a “buy” rating and set a $20.00 price objective on the stock in a research note on Monday, March 10th. Finally, Stephens reissued an “overweight” rating and issued a $20.00 target price on shares of KeyCorp in a research report on Wednesday, January 22nd. Eight research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, KeyCorp has an average rating of “Moderate Buy” and a consensus target price of $19.64.

Insider Buying and Selling at KeyCorp

In other KeyCorp news, Director Of Nova Scotia Bank bought 50,000 shares of the business’s stock in a transaction on 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 purchase, the director now directly owns 162,983,726 shares of the company’s stock, valued at approximately $2,909,259,509.10. The trade was 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 this link. 0.61% of the stock is currently owned by company insiders.

KeyCorp Price Performance

Shares of NYSE KEY opened at $16.07 on Thursday. KeyCorp has a 1-year low of $13.11 and a 1-year high of $20.04. The firm has a market capitalization of $17.75 billion, a PE ratio of -53.55, a P/E/G ratio of 0.65 and a beta of 1.26. 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 business’s fifty day moving average price is $17.11 and its two-hundred day moving average price is $17.41.

KeyCorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors 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 annualized dividend and a yield of 5.10%. KeyCorp’s dividend payout ratio is presently -273.33%.

KeyCorp announced that its Board of Directors has authorized a share repurchase plan on Thursday, March 13th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

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.