Whittier Trust Co. Raises Stock Holdings in KeyCorp (NYSE:KEY)

Whittier Trust Co. lifted its stake in KeyCorp (NYSE:KEY) by 110.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,525 shares of the financial services provider’s stock after buying an additional 800 shares during the quarter. Whittier Trust Co.’s holdings in KeyCorp were worth $26,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Ethos Financial Group LLC bought a new position in KeyCorp in the 4th quarter worth $27,000. Larson Financial Group LLC boosted its stake 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 acquiring an additional 918 shares during the period. SBI Securities Co. Ltd. purchased a new stake in shares of KeyCorp during the fourth quarter worth about $34,000. TCTC Holdings LLC raised its stake 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 purchasing an additional 611 shares during the period. Finally, Whipplewood Advisors LLC purchased a new position in KeyCorp in the 4th quarter worth approximately $45,000. 79.69% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at KeyCorp

In other KeyCorp news, Director Of Nova Scotia Bank acquired 50,000 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were purchased at an average cost of $17.85 per share, for a total transaction of $892,500.00. Following the completion of the purchase, the director now owns 162,983,726 shares in the company, valued at approximately $2,909,259,509.10. This trade represents a 0.03 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Morgan Stanley cut their price objective on shares of KeyCorp from $22.00 to $20.00 and set an “equal weight” rating for the company in a report on Thursday, March 13th. The Goldman Sachs Group raised their target price on shares of KeyCorp from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Piper Sandler boosted their price target 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. Royal Bank of Canada restated an “outperform” rating and set a $18.00 price objective on shares of KeyCorp in a research report on Wednesday, January 22nd. Finally, Keefe, Bruyette & Woods decreased their target price on KeyCorp from $22.00 to $21.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 22nd. Eight investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $19.53.

KeyCorp Stock Up 2.9 %

Shares of NYSE KEY opened at $16.62 on Tuesday. KeyCorp has a 52-week low of $13.11 and a 52-week high of $20.04. The firm has a market capitalization of $18.36 billion, a price-to-earnings ratio of -55.38, a PEG ratio of 0.65 and a beta of 1.26. The stock has a 50 day moving average price of $17.07 and a 200 day moving average price of $17.41. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.84 and a current ratio of 0.85.

KeyCorp announced that its board has authorized a share repurchase 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 reacquire up to 6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

KeyCorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th were given a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.94%. The ex-dividend date of this dividend was Tuesday, March 4th. KeyCorp’s payout ratio is -273.33%.

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.