FourThought Financial Partners LLC Acquires New Stake in KeyCorp (NYSE:KEY)

FourThought Financial Partners LLC bought a new position in shares of KeyCorp (NYSE:KEY) during the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 10,333 shares of the financial services provider’s stock, valued at approximately $177,000.

A number of other large investors have also modified their holdings of the business. Signaturefd LLC boosted its position in KeyCorp by 37.2% during the third quarter. Signaturefd LLC now owns 3,839 shares of the financial services provider’s stock worth $64,000 after acquiring an additional 1,040 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in shares of KeyCorp by 1,068.9% during the 3rd quarter. International Assets Investment Management LLC now owns 431,363 shares of the financial services provider’s stock worth $7,225,000 after purchasing an additional 394,460 shares during the last quarter. Ballentine Partners LLC purchased a new stake in shares of KeyCorp in the third quarter valued at approximately $204,000. Wealth Enhancement Advisory Services LLC increased its holdings in shares of KeyCorp by 2.2% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 83,661 shares of the financial services provider’s stock valued at $1,401,000 after purchasing an additional 1,782 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its position in KeyCorp by 0.7% during the third quarter. DekaBank Deutsche Girozentrale now owns 238,031 shares of the financial services provider’s stock worth $3,910,000 after buying an additional 1,645 shares in the last quarter. Hedge funds and other institutional investors own 79.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on KEY. Citigroup cut KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 target price for the company. in a report on Thursday, November 7th. Stephens reissued an “overweight” rating and issued a $20.00 price objective on shares of KeyCorp in a report on Wednesday, January 22nd. The Goldman Sachs Group raised their price objective on shares of KeyCorp from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Morgan Stanley decreased their target price on shares of KeyCorp from $23.00 to $22.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 22nd. Finally, Piper Sandler raised their price target on shares of KeyCorp from $19.00 to $22.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $19.69.

KeyCorp Trading Up 1.1 %

KEY opened at $16.85 on Thursday. KeyCorp has a 52 week low of $13.10 and a 52 week high of $20.04. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.77. The business has a fifty day simple moving average of $17.47 and a 200-day simple moving average of $17.47. The firm has a market cap of $16.70 billion, a P/E ratio of -56.16, a P/E/G ratio of 0.65 and a beta of 1.26.

KeyCorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Tuesday, March 4th will be issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 4.87%. The ex-dividend date of this dividend is Tuesday, March 4th. KeyCorp’s dividend payout ratio (DPR) is -273.33%.

Insider Buying and Selling at KeyCorp

In other KeyCorp news, Director Of Nova Scotia Bank bought 50,000 shares of KeyCorp 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 acquisition, the director now directly owns 162,983,726 shares in the company, valued at $2,909,259,509.10. This represents a 0.03 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.67% of the stock is currently owned by corporate insiders.

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.