KeyCorp’s (KEY) “Overweight” Rating Reiterated at Stephens

Stephens reiterated their overweight rating on shares of KeyCorp (NYSE:KEY) in a report published on Wednesday,Benzinga reports. The brokerage currently has a $20.00 target price on the financial services provider’s stock.

Several other research firms have also recently issued reports on KEY. DA Davidson cut their price target on shares of KeyCorp from $22.00 to $21.00 and set a “buy” rating on the stock in a report on Wednesday. Wells Fargo & Company boosted their target price on shares of KeyCorp from $20.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Truist Financial initiated coverage on shares of KeyCorp in a research note on Tuesday, January 7th. They set a “hold” rating and a $19.00 target price for the company. Robert W. Baird lowered shares of KeyCorp from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $18.00 to $17.00 in a research note on Monday, October 14th. Finally, Wedbush boosted their target price on shares of KeyCorp from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Tuesday, September 24th. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, KeyCorp has a consensus rating of “Moderate Buy” and a consensus price target of $19.58.

KeyCorp Stock Up 1.2 %

KEY opened at $17.69 on Wednesday. The firm’s fifty day moving average price is $18.06 and its 200 day moving average price is $17.07. The company has a quick ratio of 0.88, a current ratio of 0.85 and a debt-to-equity ratio of 0.77. KeyCorp has a 12-month low of $13.10 and a 12-month high of $20.04.

KeyCorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Tuesday, March 4th will be given a $0.205 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $0.82 dividend on an annualized basis and a yield of 4.64%. KeyCorp’s dividend payout ratio is presently -273.32%.

Insider Activity at KeyCorp

In other KeyCorp news, insider Angela G. Mago sold 15,011 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $19.59, for a total value of $294,065.49. Following the completion of the sale, the insider now directly owns 234,582 shares of the company’s stock, valued at approximately $4,595,461.38. This represents a 6.01 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Carlton L. Highsmith sold 9,000 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $17.14, for a total transaction of $154,260.00. Following the completion of the sale, the director now directly owns 37,864 shares of the company’s stock, valued at $648,988.96. The trade was a 19.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by insiders.

Institutional Trading of KeyCorp

A number of hedge funds have recently bought and sold shares of the company. Tokio Marine Asset Management Co. Ltd. lifted its stake in KeyCorp by 13.0% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 37,104 shares of the financial services provider’s stock valued at $636,000 after buying an additional 4,270 shares in the last quarter. KG&L Capital Management LLC lifted its position in shares of KeyCorp by 19.7% in the fourth quarter. KG&L Capital Management LLC now owns 75,370 shares of the financial services provider’s stock worth $1,292,000 after purchasing an additional 12,416 shares in the last quarter. Caprock Group LLC lifted its position in shares of KeyCorp by 6.6% in the fourth quarter. Caprock Group LLC now owns 22,520 shares of the financial services provider’s stock worth $386,000 after purchasing an additional 1,404 shares in the last quarter. Mediolanum International Funds Ltd purchased a new stake in shares of KeyCorp in the fourth quarter worth approximately $18,982,000. Finally, Crews Bank & Trust purchased a new stake in shares of KeyCorp in the fourth quarter worth approximately $51,000. 79.69% of the stock is owned by hedge funds and other institutional investors.

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.