Elo Mutual Pension Insurance Co Boosts Position in KeyCorp (NYSE:KEY)

Elo Mutual Pension Insurance Co grew its holdings in shares of KeyCorp (NYSE:KEY) by 4.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 87,089 shares of the financial services provider’s stock after buying an additional 3,339 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in KeyCorp were worth $1,493,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in KeyCorp by 7.1% in the 4th quarter. Vanguard Group Inc. now owns 116,932,760 shares of the financial services provider’s stock valued at $2,004,228,000 after purchasing an additional 7,754,576 shares in the last quarter. Azora Capital LP purchased a new stake in shares of KeyCorp during the 3rd quarter valued at about $92,413,000. Raymond James Financial Inc. purchased a new stake in shares of KeyCorp during the 4th quarter valued at about $42,827,000. Victory Capital Management Inc. boosted its holdings in KeyCorp by 57.0% in the 4th quarter. Victory Capital Management Inc. now owns 5,946,074 shares of the financial services provider’s stock worth $101,916,000 after acquiring an additional 2,157,901 shares during the period. Finally, National Pension Service boosted its holdings in KeyCorp by 1,124.8% in the 4th quarter. National Pension Service now owns 1,679,582 shares of the financial services provider’s stock worth $28,788,000 after acquiring an additional 1,542,456 shares during the period. Institutional investors and hedge funds own 79.69% of the company’s stock.

Insider Activity

In other KeyCorp news, Director Of Nova Scotia Bank purchased 50,000 shares of the business’s stock in a transaction dated Wednesday, February 5th. The shares were bought at an average price of $17.85 per share, with a total value of $892,500.00. Following the completion of the acquisition, the director now owns 162,983,726 shares in the company, valued at approximately $2,909,259,509.10. This represents a 0.03 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

KEY has been the topic of a number of recent research reports. Stephens reissued an “overweight” rating and set a $20.00 target price on shares of KeyCorp in a research report on Wednesday, January 22nd. Royal Bank of Canada reiterated an “outperform” rating and issued a $18.00 price objective on shares of KeyCorp in a report on Wednesday, January 22nd. Citigroup lowered their target price on KeyCorp from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Monday, March 24th. Morgan Stanley reduced their price target on KeyCorp from $22.00 to $20.00 and set an “equal weight” rating for the company in a report on Thursday, March 13th. Finally, Wells Fargo & Company dropped their price objective on KeyCorp from $22.00 to $20.00 and set an “overweight” rating on the stock in a report on Friday. Eight investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, KeyCorp currently has an average rating of “Moderate Buy” and a consensus price target of $19.42.

KeyCorp Stock Down 2.3 %

Shares of KeyCorp stock opened at $15.80 on Friday. The stock has a market capitalization of $17.46 billion, a price-to-earnings ratio of -52.65, a PEG ratio of 0.65 and a beta of 1.26. KeyCorp has a twelve month low of $13.11 and a twelve month high of $20.04. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.77. The business’s 50 day simple moving average is $16.93 and its 200-day simple moving average is $17.41.

KeyCorp declared that its Board of Directors has initiated a share buyback program on Thursday, March 13th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the financial services provider to buy up to 6% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its stock is undervalued.

KeyCorp Announces Dividend

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

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.