Aviva PLC Has $9.74 Million Holdings in KeyCorp (NYSE:KEY)

Aviva PLC raised its position in shares of KeyCorp (NYSE:KEY) by 535.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 568,453 shares of the financial services provider’s stock after acquiring an additional 479,054 shares during the period. Aviva PLC’s holdings in KeyCorp were worth $9,743,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. grew its holdings in KeyCorp by 3.4% in the 4th quarter. Principal Financial Group Inc. now owns 1,117,238 shares of the financial services provider’s stock valued at $19,149,000 after buying an additional 36,424 shares in the last quarter. Truist Financial Corp grew its stake in shares of KeyCorp by 27.1% in the fourth quarter. Truist Financial Corp now owns 95,856 shares of the financial services provider’s stock valued at $1,643,000 after acquiring an additional 20,424 shares in the last quarter. Avanza Fonder AB acquired a new position in shares of KeyCorp in the fourth quarter valued at about $1,618,000. Teachers Retirement System of The State of Kentucky increased its position in KeyCorp by 1,974.1% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 1,541,680 shares of the financial services provider’s stock worth $25,823,000 after acquiring an additional 1,467,351 shares during the period. Finally, Proficio Capital Partners LLC acquired a new stake in KeyCorp in the 4th quarter worth about $1,519,000. Institutional investors and hedge funds own 79.69% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on KEY shares. Keefe, Bruyette & Woods lowered their target price on shares of KeyCorp from $22.00 to $21.00 and set an “outperform” rating on the stock in a report on Wednesday, January 22nd. Citigroup dropped their price objective on KeyCorp from $20.00 to $19.00 and set a “buy” rating for the company in a report on Monday, March 24th. Wells Fargo & Company reduced their target price on KeyCorp from $22.00 to $20.00 and set an “overweight” rating on the stock in a report on Friday, March 28th. Truist Financial dropped their price target on KeyCorp from $19.00 to $18.00 and set a “hold” rating for the company in a research note on Friday, March 21st. Finally, Stephens reiterated an “overweight” rating and set a $20.00 price objective on shares of KeyCorp in a research note on Wednesday, January 22nd. Seven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $19.31.

Insider Buying and Selling at KeyCorp

In other KeyCorp news, Director Of Nova Scotia Bank purchased 50,000 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was purchased at an average cost of $17.85 per share, for a total transaction 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. The trade was a 0.03 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.67% of the company’s stock.

KeyCorp Stock Performance

NYSE KEY opened at $13.18 on Wednesday. KeyCorp has a fifty-two week low of $12.73 and a fifty-two week high of $20.04. The stock has a market cap of $14.44 billion, a PE ratio of -43.92, a PEG ratio of 0.65 and a beta of 1.06. 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 firm’s fifty day moving average price is $16.41 and its two-hundred day moving average price is $17.29.

KeyCorp Dividend Announcement

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. The ex-dividend date was Tuesday, March 4th. This represents a $0.82 dividend on an annualized basis and a yield of 6.22%. KeyCorp’s payout ratio is presently -273.33%.

KeyCorp declared that its Board of Directors has initiated a stock buyback program on Thursday, March 13th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the financial services provider to repurchase up to 6% of its shares through open market purchases. Shares buyback programs are often 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.