Lbp Am Sa Buys 202,069 Shares of KeyCorp (NYSE:KEY)

Lbp Am Sa grew its stake in shares of KeyCorp (NYSE:KEY) by 714.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 230,358 shares of the financial services provider’s stock after acquiring an additional 202,069 shares during the period. Lbp Am Sa’s holdings in KeyCorp were worth $3,948,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of KEY. Ethos Financial Group LLC purchased a new stake in shares of KeyCorp during the 4th quarter valued at approximately $27,000. Larson Financial Group LLC lifted its stake in shares of KeyCorp by 90.8% during the 3rd quarter. Larson Financial Group LLC now owns 1,929 shares of the financial services provider’s stock valued at $32,000 after buying an additional 918 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of KeyCorp during the 4th quarter valued at approximately $34,000. Venturi Wealth Management LLC lifted its stake in shares of KeyCorp by 62.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,526 shares of the financial services provider’s stock valued at $42,000 after buying an additional 975 shares in the last quarter. Finally, Whipplewood Advisors LLC purchased a new stake in shares of KeyCorp during the 4th quarter valued at approximately $45,000. 79.69% of the stock is owned by institutional investors.

Analyst Ratings Changes

KEY has been the topic of a number of recent research reports. Stephens restated an “overweight” rating and set a $20.00 price target on shares of KeyCorp in a research note on Wednesday, January 22nd. Piper Sandler upped their price target on shares of KeyCorp from $19.00 to $22.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $18.00 target price on shares of KeyCorp in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $18.50 target price on shares of KeyCorp in a research note on Monday, February 3rd. Finally, DA Davidson lowered their target price on shares of KeyCorp from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Wednesday, January 22nd. Eight equities 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, KeyCorp presently has a consensus rating of “Moderate Buy” and an average price target of $19.64.

Insider Activity at KeyCorp

In other KeyCorp news, Director Of Nova Scotia Bank bought 50,000 shares of KeyCorp stock in a transaction that occurred on 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 acquisition, 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.61% of the stock is owned by insiders.

KeyCorp Price Performance

KEY stock opened at $15.68 on Friday. 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 has a 52 week low of $13.11 and a 52 week high of $20.04. The firm’s fifty day moving average is $17.19 and its 200 day moving average is $17.43. The firm has a market cap of $17.32 billion, a P/E ratio of -52.25, a P/E/G ratio of 0.65 and a beta of 1.26.

KeyCorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Tuesday, March 4th were issued a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 5.23%. The ex-dividend date of this dividend was Tuesday, March 4th. KeyCorp’s dividend payout ratio is currently -273.33%.

KeyCorp announced that its Board of Directors has initiated a share repurchase program 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 buy up to 6% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

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.