Neuberger Berman Group LLC Has $2.01 Million Holdings in KeyCorp (NYSE:KEY)

Neuberger Berman Group LLC decreased its position in shares of KeyCorp (NYSE:KEY) by 1.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 117,100 shares of the financial services provider’s stock after selling 1,468 shares during the period. Neuberger Berman Group LLC’s holdings in KeyCorp were worth $2,007,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of KEY. Whittier Trust Co. boosted its position in shares of KeyCorp by 110.3% in the fourth 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 period. Ethos Financial Group LLC bought a new position in KeyCorp during the fourth quarter worth $27,000. SBI Securities Co. Ltd. acquired a new position in KeyCorp during the 4th quarter valued at $34,000. TCTC Holdings LLC boosted its holdings in KeyCorp by 38.6% in the 4th 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 period. Finally, Whipplewood Advisors LLC acquired a new stake in KeyCorp in the 4th quarter worth $45,000. 79.69% of the stock is currently owned by institutional investors.

KeyCorp Stock Down 0.3 %

KEY opened at $13.71 on Friday. The firm has a market cap of $15.02 billion, a price-to-earnings ratio of -45.68, 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 50-day simple moving average is $16.11 and its 200-day simple moving average is $17.22. KeyCorp has a twelve month low of $12.73 and a twelve month high of $20.04.

KeyCorp declared that its board has initiated a share buyback plan on Thursday, March 13th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the financial services provider to purchase up to 6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

KeyCorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th were paid a dividend of $0.205 per share. The ex-dividend date was Tuesday, March 4th. This represents a $0.82 annualized dividend and a yield of 5.98%. 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 business’s stock in a transaction on Wednesday, February 5th. The stock was purchased at an average price 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. This trade represents a 0.03 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.67% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on KEY shares. Citigroup cut their price objective on shares of KeyCorp from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Monday, March 24th. Baird R W upgraded KeyCorp from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 7th. JPMorgan Chase & Co. reduced their price objective on KeyCorp from $18.50 to $16.50 and set a “neutral” rating for the company in a research report on Thursday, April 3rd. Morgan Stanley decreased their price objective on KeyCorp from $22.00 to $20.00 and set an “equal weight” rating on the stock in a report on Thursday, March 13th. Finally, DA Davidson cut their target price on KeyCorp from $22.00 to $21.00 and set a “buy” rating for the company in a research note on Wednesday, January 22nd. Seven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, KeyCorp has a consensus rating of “Moderate Buy” and an average target price of $19.31.

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.