Ausdal Financial Partners Inc. Makes New Investment in KeyCorp (NYSE:KEY)

Ausdal Financial Partners Inc. acquired a new stake in shares of KeyCorp (NYSE:KEY) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 11,090 shares of the financial services provider’s stock, valued at approximately $190,000.

Several other hedge funds have also recently modified their holdings of the stock. Whittier Trust Co. increased its holdings in KeyCorp by 110.3% in the 4th quarter. Whittier Trust Co. now owns 1,525 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 800 shares during the last quarter. Ethos Financial Group LLC bought a new stake in shares of KeyCorp in the fourth quarter worth about $27,000. Larson Financial Group LLC lifted its position in shares of KeyCorp by 90.8% in the third quarter. Larson Financial Group LLC now owns 1,929 shares of the financial services provider’s stock worth $32,000 after buying an additional 918 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in KeyCorp during the fourth quarter valued at approximately $34,000. Finally, TCTC Holdings LLC grew its holdings in KeyCorp by 38.6% during 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 in the last quarter. Hedge funds and other institutional investors own 79.69% of the company’s stock.

KeyCorp Stock Performance

KeyCorp stock opened at $15.80 on Friday. 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 company has a market capitalization of $17.46 billion, a PE ratio of -52.65, a P/E/G ratio of 0.65 and a beta of 1.26. The company has a 50 day moving average price of $16.93 and a 200-day moving average price of $17.40. KeyCorp has a fifty-two week low of $13.11 and a fifty-two week high of $20.04.

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.

KeyCorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th were issued a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 5.19%. The ex-dividend date was Tuesday, March 4th. KeyCorp’s dividend payout ratio is -273.33%.

Insider Transactions at KeyCorp

In other KeyCorp news, Director Of Nova Scotia Bank acquired 50,000 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was bought at an average cost of $17.85 per share, with a total value of $892,500.00. Following the completion of the purchase, the director now directly owns 162,983,726 shares in the company, valued at $2,909,259,509.10. The trade was a 0.03 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Truist Financial decreased their price objective on KeyCorp from $19.00 to $18.00 and set a “hold” rating on the stock in a report on Friday, March 21st. Piper Sandler lifted their price objective on shares of KeyCorp from $19.00 to $22.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Barclays upped their target price on shares of KeyCorp from $19.00 to $21.00 and gave the company an “equal weight” rating in a research report on Monday, January 6th. Wells Fargo & Company dropped their price target on KeyCorp from $22.00 to $20.00 and set an “overweight” rating for the company in a research report on Friday. Finally, JPMorgan Chase & Co. restated a “neutral” rating and set a $18.50 price objective on shares of KeyCorp in a research report on Monday, February 3rd. Eight research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, KeyCorp presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.42.

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.