KeyCorp (NYSE:KEY) Director Of Nova Scotia Bank Purchases 50,000 Shares

KeyCorp (NYSE:KEY) Director Of Nova Scotia Bank purchased 50,000 shares of the company’s stock in a transaction on 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 transaction, the director now directly owns 162,983,726 shares of the company’s stock, valued at approximately $2,909,259,509.10. This 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.

KeyCorp Stock Performance

Shares of NYSE:KEY traded down $0.11 on Friday, reaching $17.84. 13,039,455 shares of the company’s stock were exchanged, compared to its average volume of 13,510,638. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.77. KeyCorp has a twelve month low of $13.10 and a twelve month high of $20.04. The company has a fifty day moving average of $17.75 and a 200-day moving average of $17.24. The company has a market capitalization of $17.68 billion, a price-to-earnings ratio of -59.46, a PEG ratio of 0.66 and a beta of 1.26.

KeyCorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th will be issued a $0.205 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $0.82 annualized dividend and a yield of 4.60%. KeyCorp’s dividend payout ratio is presently -273.32%.

Analysts Set New Price Targets

KEY has been the topic of a number of research analyst reports. Citigroup cut shares of KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 target price on the stock. in a report on Thursday, November 7th. Baird R W lowered KeyCorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 14th. Wells Fargo & Company raised their price objective on KeyCorp from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. UBS Group boosted their target price on KeyCorp from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Finally, Piper Sandler raised their price target on KeyCorp from $19.00 to $22.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Nine equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $19.69.

Institutional Trading of KeyCorp

A number of institutional investors have recently modified their holdings of KEY. Azora Capital LP acquired a new position in KeyCorp during the third quarter valued at approximately $92,413,000. Assenagon Asset Management S.A. raised its holdings in shares of KeyCorp by 280.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 4,976,965 shares of the financial services provider’s stock worth $83,364,000 after buying an additional 3,668,168 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in shares of KeyCorp by 108.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 5,852,233 shares of the financial services provider’s stock worth $98,025,000 after buying an additional 3,042,060 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in KeyCorp by 164.9% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,660,680 shares of the financial services provider’s stock valued at $78,066,000 after buying an additional 2,900,971 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position in KeyCorp by 279.6% in the third quarter. Victory Capital Management Inc. now owns 3,788,173 shares of the financial services provider’s stock valued at $63,452,000 after acquiring an additional 2,790,192 shares during the last quarter. 79.69% of the stock is currently owned by institutional investors.

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.