B. Metzler seel. Sohn & Co. AG Increases Stake in KeyCorp (NYSE:KEY)

B. Metzler seel. Sohn & Co. AG increased its holdings in shares of KeyCorp (NYSE:KEY) by 14.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 185,381 shares of the financial services provider’s stock after acquiring an additional 23,962 shares during the period. B. Metzler seel. Sohn & Co. AG’s holdings in KeyCorp were worth $3,175,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. TCTC Holdings LLC raised its holdings in shares of KeyCorp by 38.6% in the fourth quarter. TCTC Holdings LLC now owns 2,195 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 611 shares in the last quarter. Signaturefd LLC increased its position in shares of KeyCorp by 16.0% in the 4th quarter. Signaturefd LLC now owns 4,453 shares of the financial services provider’s stock valued at $76,000 after acquiring an additional 614 shares during the period. Modera Wealth Management LLC increased its holdings in shares of KeyCorp by 3.9% in the fourth quarter. Modera Wealth Management LLC now owns 16,521 shares of the financial services provider’s stock valued at $283,000 after purchasing an additional 627 shares during the period. Ballentine Partners LLC lifted its position in KeyCorp by 5.7% during the fourth quarter. Ballentine Partners LLC now owns 12,855 shares of the financial services provider’s stock valued at $220,000 after purchasing an additional 692 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in KeyCorp by 0.4% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 175,512 shares of the financial services provider’s stock worth $3,008,000 after acquiring an additional 695 shares during the period. Institutional investors own 79.69% of the company’s stock.

KeyCorp Stock Performance

Shares of KeyCorp stock opened at $15.77 on Wednesday. The firm’s 50 day moving average is $16.85 and its two-hundred day moving average is $17.42. KeyCorp has a 52 week low of $13.11 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 firm has a market capitalization of $17.43 billion, a P/E ratio of -52.57, a P/E/G ratio of 0.65 and a beta of 1.26.

KeyCorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th were paid a $0.205 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $0.82 annualized dividend and a yield of 5.20%. KeyCorp’s dividend payout ratio is presently -273.33%.

KeyCorp declared that its board has authorized a share repurchase plan 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 repurchase up to 6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

Several analysts recently commented on KEY shares. Citigroup dropped their price target on shares of KeyCorp from $20.00 to $19.00 and set a “buy” rating on the stock in a research report on Monday, March 24th. Barclays boosted their target price on KeyCorp from $19.00 to $21.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. Morgan Stanley dropped their price target on shares of KeyCorp from $22.00 to $20.00 and set an “equal weight” rating for the company in a research note on Thursday, March 13th. Truist Financial decreased their target price on shares of KeyCorp from $19.00 to $18.00 and set a “hold” rating on the stock in a research report on Friday, March 21st. Finally, Piper Sandler raised their target price on KeyCorp from $19.00 to $22.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $19.42.

Insider Activity at KeyCorp

In related news, Director Of Nova Scotia Bank purchased 50,000 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were purchased at an average price of $17.85 per share, with a total value of $892,500.00. Following the completion of 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.61% of the company’s stock.

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.