Asahi Life Asset Management CO. LTD. Takes Position in KeyCorp (NYSE:KEY)

Asahi Life Asset Management CO. LTD. bought a new position in shares of KeyCorp (NYSE:KEY) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 17,950 shares of the financial services provider’s stock, valued at approximately $308,000.

Several other hedge funds have also added to or reduced their stakes in KEY. Wealth Enhancement Advisory Services LLC boosted its position in KeyCorp by 2.2% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 83,661 shares of the financial services provider’s stock worth $1,401,000 after buying an additional 1,782 shares during the period. abrdn plc boosted its position in KeyCorp by 0.8% during the 3rd quarter. abrdn plc now owns 351,637 shares of the financial services provider’s stock worth $5,895,000 after buying an additional 2,719 shares during the period. Financial Advocates Investment Management boosted its position in KeyCorp by 2.3% during the 3rd quarter. Financial Advocates Investment Management now owns 26,872 shares of the financial services provider’s stock worth $450,000 after buying an additional 602 shares during the period. HM Payson & Co. boosted its position in KeyCorp by 27.0% during the 3rd quarter. HM Payson & Co. now owns 3,060 shares of the financial services provider’s stock worth $51,000 after buying an additional 650 shares during the period. Finally, US Bancorp DE boosted its position in KeyCorp by 1.3% during the 3rd quarter. US Bancorp DE now owns 441,533 shares of the financial services provider’s stock worth $7,396,000 after buying an additional 5,592 shares during the period. 79.69% of the stock is currently owned by institutional investors and hedge funds.

KeyCorp Price Performance

KEY opened at $17.33 on Monday. 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 capitalization of $19.15 billion, a price-to-earnings ratio of -57.76, a P/E/G ratio of 0.65 and a beta of 1.26. The firm’s fifty day moving average price is $17.48 and its two-hundred day moving average price is $17.50. KeyCorp has a 1 year low of $13.10 and a 1 year high of $20.04.

KeyCorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th will be issued 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 dividend payout ratio is -273.33%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $18.00 target price on shares of KeyCorp in a research report on Wednesday, January 22nd. The Goldman Sachs Group raised their price target on shares of KeyCorp from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Piper Sandler lifted their price objective on shares of KeyCorp from $19.00 to $22.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Stephens reiterated an “overweight” rating and issued a $20.00 price objective on shares of KeyCorp in a research note on Wednesday, January 22nd. Finally, Wells Fargo & Company lifted their price objective on shares of KeyCorp from $20.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Nine equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, KeyCorp has an average rating of “Moderate Buy” and a consensus target price of $19.69.

Insiders Place Their Bets

In related news, Director Of Nova Scotia Bank purchased 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The shares were bought at an average cost of $17.85 per share, with a total value of $892,500.00. Following the acquisition, the director now owns 162,983,726 shares of the company’s stock, valued at $2,909,259,509.10. This represents a 0.03 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.61% of the company’s stock.

KeyCorp 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.