Haverford Trust Co Has $180,000 Stock Position in KeyCorp (NYSE:KEY)

Haverford Trust Co cut its holdings in shares of KeyCorp (NYSE:KEY) by 6.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 10,516 shares of the financial services provider’s stock after selling 693 shares during the quarter. Haverford Trust Co’s holdings in KeyCorp were worth $180,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. 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 last quarter. Signaturefd LLC increased its holdings in shares of KeyCorp by 16.0% during the 4th quarter. Signaturefd LLC now owns 4,453 shares of the financial services provider’s stock worth $76,000 after purchasing an additional 614 shares during the period. Modera Wealth Management LLC raised its position in shares of KeyCorp by 3.9% during the fourth quarter. Modera Wealth Management LLC now owns 16,521 shares of the financial services provider’s stock valued at $283,000 after buying an additional 627 shares during the last quarter. Ballentine Partners LLC lifted its stake in shares of KeyCorp by 5.7% in the fourth quarter. Ballentine Partners LLC now owns 12,855 shares of the financial services provider’s stock valued at $220,000 after buying an additional 692 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its position in KeyCorp by 0.4% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 175,512 shares of the financial services provider’s stock worth $3,008,000 after buying an additional 695 shares in the last quarter. 79.69% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on KEY shares. Stephens reiterated an “overweight” rating and issued a $20.00 price objective on shares of KeyCorp in a research report on Wednesday, January 22nd. Citigroup decreased their price target on shares of KeyCorp from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Monday. Morgan Stanley dropped their price objective on shares of KeyCorp from $22.00 to $20.00 and set an “equal weight” rating for the company in a research note on Thursday, March 13th. DA Davidson decreased their target price on shares of KeyCorp from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Wednesday, January 22nd. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $18.00 price target on shares of KeyCorp in a research report on Wednesday, January 22nd. Eight research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $19.53.

Insiders Place Their Bets

In related news, Director Of Nova Scotia Bank bought 50,000 shares of KeyCorp stock in a transaction dated Wednesday, February 5th. The shares were bought 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 owns 162,983,726 shares of the company’s stock, 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 legal filing with the SEC, which is available through the SEC website. Insiders own 0.61% of the company’s stock.

KeyCorp Trading Up 0.1 %

Shares of KEY opened at $16.58 on Wednesday. The stock has a fifty day moving average price of $17.05 and a two-hundred day moving average price of $17.42. 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 company has a market cap of $18.32 billion, a price-to-earnings ratio of -55.26, a PEG ratio of 0.65 and a beta of 1.26. KeyCorp has a 52-week low of $13.11 and a 52-week high of $20.04.

KeyCorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Tuesday, March 4th were given 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 4.95%. KeyCorp’s dividend payout ratio (DPR) is -273.33%.

KeyCorp declared that its Board of Directors has approved a share buyback plan on Thursday, March 13th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to purchase up to 6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

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.