Premier Fund Managers Ltd Purchases 125,700 Shares of KeyCorp (NYSE:KEY)

Premier Fund Managers Ltd grew its position in KeyCorp (NYSE:KEY) by 30.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 544,200 shares of the financial services provider’s stock after acquiring an additional 125,700 shares during the period. Premier Fund Managers Ltd owned 0.05% of KeyCorp worth $9,308,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of KEY. TCTC Holdings LLC grew its stake in shares of KeyCorp by 38.6% during the fourth quarter. TCTC Holdings LLC now owns 2,195 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 611 shares during the last quarter. Signaturefd LLC increased its stake in shares of KeyCorp by 16.0% in the 4th quarter. Signaturefd LLC now owns 4,453 shares of the financial services provider’s stock valued at $76,000 after buying an additional 614 shares during the period. Modera Wealth Management LLC raised its position in shares of KeyCorp by 3.9% during the fourth quarter. Modera Wealth Management LLC now owns 16,521 shares of the financial services provider’s stock worth $283,000 after acquiring an additional 627 shares during the last quarter. Ballentine Partners LLC lifted its stake in shares of 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 acquiring an additional 692 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in KeyCorp by 0.4% in 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 acquiring an additional 695 shares during the last quarter. Institutional investors and hedge funds own 79.69% of the company’s stock.

Insider Buying and Selling at KeyCorp

In related news, Director Of Nova Scotia Bank acquired 50,000 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The stock was bought at an average price of $17.85 per share, for a total transaction of $892,500.00. Following the acquisition, 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on KEY. Keefe, Bruyette & Woods reduced their target price on shares of KeyCorp from $22.00 to $21.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 22nd. Truist Financial dropped their target price on shares of KeyCorp from $19.00 to $18.00 and set a “hold” rating for the company in a research report on Friday, March 21st. Citigroup decreased their price objective on KeyCorp from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Monday. DA Davidson cut their target price on KeyCorp from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Wednesday, January 22nd. Finally, Royal Bank of Canada restated an “outperform” rating and set a $18.00 target price on shares of KeyCorp in a research report on Wednesday, January 22nd. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $19.53.

KeyCorp Stock Down 1.5 %

Shares of KeyCorp stock opened at $16.16 on Friday. KeyCorp has a 52-week low of $13.11 and a 52-week high of $20.04. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.84 and a current ratio of 0.85. The business’s 50 day simple moving average is $16.98 and its 200 day simple moving average is $17.40. The firm has a market cap of $17.85 billion, a PE ratio of -53.85, a P/E/G ratio of 0.65 and a beta of 1.26.

KeyCorp declared that its board has authorized a stock buyback program 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 reacquire up to 6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.

KeyCorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Tuesday, March 4th were issued a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 5.08%. The ex-dividend date was Tuesday, March 4th. KeyCorp’s payout ratio is -273.33%.

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.