Tyler Stone Wealth Management Has $3.02 Million Stake in KeyCorp (NYSE:KEY)

Tyler Stone Wealth Management boosted its stake in KeyCorp (NYSE:KEY) by 6.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 176,237 shares of the financial services provider’s stock after acquiring an additional 10,488 shares during the quarter. Tyler Stone Wealth Management’s holdings in KeyCorp were worth $3,021,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in KeyCorp by 7.1% during the fourth quarter. Vanguard Group Inc. now owns 116,932,760 shares of the financial services provider’s stock worth $2,004,228,000 after purchasing an additional 7,754,576 shares during the last quarter. Azora Capital LP bought a new position in shares of KeyCorp in the 3rd quarter valued at about $92,413,000. Raymond James Financial Inc. acquired a new stake in shares of KeyCorp in the fourth quarter valued at about $42,827,000. Victory Capital Management Inc. boosted its position in KeyCorp by 57.0% during the fourth quarter. Victory Capital Management Inc. now owns 5,946,074 shares of the financial services provider’s stock valued at $101,916,000 after purchasing an additional 2,157,901 shares during the last quarter. Finally, National Pension Service grew its stake in KeyCorp by 1,124.8% in the fourth quarter. National Pension Service now owns 1,679,582 shares of the financial services provider’s stock valued at $28,788,000 after purchasing an additional 1,542,456 shares in the last quarter. 79.69% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

KEY has been the topic of a number of analyst reports. Royal Bank of Canada reiterated an “outperform” rating and set a $18.00 price objective on shares of KeyCorp in a research note on Wednesday, January 22nd. The Goldman Sachs Group upped their price target 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. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $18.50 price objective on shares of KeyCorp in a research report on Monday, February 3rd. Barclays upped their target price on shares of KeyCorp from $19.00 to $21.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Finally, Keefe, Bruyette & Woods reduced their price target on KeyCorp from $22.00 to $21.00 and set an “outperform” rating for the company in a report on Wednesday, January 22nd. Eight investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $19.53.

KeyCorp Trading Up 0.1 %

KEY opened at $16.58 on Wednesday. The stock has a market capitalization of $18.32 billion, a price-to-earnings ratio of -55.26, a P/E/G ratio of 0.65 and a beta of 1.26. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.77. KeyCorp has a twelve month low of $13.11 and a twelve month high of $20.04. The company has a 50-day simple moving average of $17.05 and a 200 day simple moving average of $17.42.

KeyCorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Tuesday, March 4th were paid a $0.205 dividend. The ex-dividend date was Tuesday, March 4th. This represents a $0.82 dividend on an annualized basis and a yield of 4.95%. KeyCorp’s dividend payout ratio (DPR) is -273.33%.

KeyCorp announced that its Board of Directors has initiated a stock repurchase plan on Thursday, March 13th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to repurchase up to 6% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at KeyCorp

In other KeyCorp news, Director Of Nova Scotia Bank acquired 50,000 shares of KeyCorp stock in a transaction that occurred on Wednesday, February 5th. The shares were acquired at an average cost of $17.85 per share, with a total value of $892,500.00. Following the completion of the purchase, the director now directly owns 162,983,726 shares of the company’s stock, valued at $2,909,259,509.10. This represents a 0.03 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.61% of the company’s stock.

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.