KeyCorp (NYSE:KEY) Shares Acquired by CIBC Asset Management Inc

CIBC Asset Management Inc lifted its holdings in KeyCorp (NYSE:KEY) by 10.1% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 149,148 shares of the financial services provider’s stock after purchasing an additional 13,656 shares during the period. CIBC Asset Management Inc’s holdings in KeyCorp were worth $2,556,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in KEY. American Capital Advisory LLC acquired a new position in shares of KeyCorp in the third quarter worth $28,000. Larson Financial Group LLC raised its stake in shares of KeyCorp by 90.8% in the third quarter. Larson Financial Group LLC now owns 1,929 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 918 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new position in KeyCorp in the third quarter valued at $35,000. Capital Performance Advisors LLP acquired a new position in KeyCorp during the 3rd quarter worth $38,000. Finally, Venturi Wealth Management LLC increased its holdings in KeyCorp by 62.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,526 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 975 shares during the period. 79.69% of the stock is owned by hedge funds and other institutional investors.

KeyCorp Price Performance

KEY stock opened at $16.94 on Friday. 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 company has a market capitalization of $16.80 billion, a P/E ratio of -56.47, a PEG ratio of 0.67 and a beta of 1.26. The business has a 50 day simple moving average of $17.54 and a 200-day simple moving average of $17.37. KeyCorp has a twelve month low of $13.10 and a twelve month high of $20.04.

KeyCorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Tuesday, March 4th will be paid a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 4.84%. The ex-dividend date is Tuesday, March 4th. KeyCorp’s dividend payout ratio is currently -273.33%.

Insiders Place Their Bets

In related news, Director Of Nova Scotia Bank bought 50,000 shares of the stock in a transaction on 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 purchase, the director now owns 162,983,726 shares of the company’s stock, valued at $2,909,259,509.10. This trade represents a 0.03 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.61% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

KEY has been the subject of a number of analyst reports. Truist Financial assumed coverage on KeyCorp in a research report on Tuesday, January 7th. They set a “hold” rating and a $19.00 price objective for the company. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $18.50 price target on shares of KeyCorp in a report on Monday, February 3rd. Piper Sandler raised their price objective on shares of KeyCorp from $19.00 to $22.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. DA Davidson lowered their target price on shares of KeyCorp from $22.00 to $21.00 and set a “buy” rating for the company in a research note on Wednesday, January 22nd. Finally, Barclays increased their target price on KeyCorp from $19.00 to $21.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, KeyCorp has an average rating of “Moderate Buy” and an average target price of $19.69.

KeyCorp 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.