Insider Buying: KeyCorp (NYSE:KEY) Director Acquires $892,500.00 in Stock

KeyCorp (NYSE:KEY) Director Of Nova Scotia Bank bought 50,000 shares of the business’s stock in a transaction on Wednesday, February 5th. The stock was bought at an average price of $17.85 per share, with a total value of $892,500.00. Following the transaction, the director now owns 162,983,726 shares in the company, valued at approximately $2,909,259,509.10. This represents a 0.03 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

KeyCorp Trading Down 0.6 %

Shares of NYSE:KEY opened at $17.84 on Monday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.84 and a current ratio of 0.85. The stock’s 50-day moving average is $17.71 and its 200-day moving average is $17.27. The company has a market cap of $17.68 billion, a P/E ratio of -59.46, a P/E/G ratio of 0.66 and a beta of 1.26. KeyCorp has a 52-week low of $13.10 and a 52-week high of $20.04.

KeyCorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th will be issued a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 4.60%. The ex-dividend date of this dividend is Tuesday, March 4th. KeyCorp’s dividend payout ratio (DPR) is currently -273.32%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of KEY. Sanctuary Advisors LLC bought a new position in KeyCorp during the second quarter worth $845,000. Czech National Bank increased its holdings in shares of KeyCorp by 5.2% during the 3rd quarter. Czech National Bank now owns 189,067 shares of the financial services provider’s stock worth $3,167,000 after purchasing an additional 9,397 shares during the period. GAMMA Investing LLC raised its position in shares of KeyCorp by 5.7% during the third quarter. GAMMA Investing LLC now owns 24,726 shares of the financial services provider’s stock valued at $414,000 after buying an additional 1,338 shares during the last quarter. Mather Group LLC. raised its position in shares of KeyCorp by 16.7% during the third quarter. Mather Group LLC. now owns 12,276 shares of the financial services provider’s stock valued at $206,000 after buying an additional 1,755 shares during the last quarter. Finally, Atomi Financial Group Inc. lifted its stake in shares of KeyCorp by 22.1% in the third quarter. Atomi Financial Group Inc. now owns 41,471 shares of the financial services provider’s stock valued at $695,000 after buying an additional 7,493 shares during the period. 79.69% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $18.00 price target on shares of KeyCorp in a research note on Wednesday, January 22nd. DA Davidson dropped their target price on KeyCorp from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Wednesday, January 22nd. Stephens reiterated an “overweight” rating and set a $20.00 price target on shares of KeyCorp in a report on Wednesday, January 22nd. Morgan Stanley dropped their price objective on KeyCorp from $23.00 to $22.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 22nd. Finally, Barclays lifted their target price on shares of KeyCorp from $19.00 to $21.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Nine analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $19.69.

KeyCorp Company 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.