Xponance Inc. Buys 2,214 Shares of KeyCorp (NYSE:KEY)

Xponance Inc. increased its stake in KeyCorp (NYSE:KEY) by 1.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 131,476 shares of the financial services provider’s stock after buying an additional 2,214 shares during the quarter. Xponance Inc.’s holdings in KeyCorp were worth $2,253,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of KEY. Ethos Financial Group LLC bought a new stake in shares of KeyCorp in the 4th quarter worth about $27,000. Larson Financial Group LLC lifted its stake in KeyCorp by 90.8% in the third quarter. Larson Financial Group LLC now owns 1,929 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 918 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of KeyCorp during the fourth quarter valued at approximately $34,000. TCTC Holdings LLC grew its stake in shares of KeyCorp by 38.6% during the fourth quarter. TCTC Holdings LLC now owns 2,195 shares of the financial services provider’s stock valued at $38,000 after buying an additional 611 shares during the last quarter. Finally, Whipplewood Advisors LLC purchased a new stake in shares of KeyCorp in the fourth quarter worth approximately $45,000. Institutional investors own 79.69% of the company’s stock.

Insider Transactions at KeyCorp

In related news, Director Of Nova Scotia Bank bought 50,000 shares of the stock in a transaction dated Wednesday, February 5th. The shares were purchased at an average price of $17.85 per share, for a total transaction 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 ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.61% of the company’s stock.

KeyCorp Trading Up 0.3 %

KeyCorp stock opened at $16.14 on Friday. The stock has a 50-day moving average price of $17.08 and a 200 day moving average price of $17.40. The company has a market capitalization of $17.83 billion, a price-to-earnings ratio of -53.78, a price-to-earnings-growth ratio of 0.65 and a beta of 1.26. 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.

KeyCorp announced that its board has approved a stock buyback plan on Thursday, March 13th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the financial services provider to buy up to 6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

KeyCorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th were issued a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 5.08%. The ex-dividend date of this dividend was Tuesday, March 4th. KeyCorp’s dividend payout ratio (DPR) is currently -273.33%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Truist Financial cut their price objective on KeyCorp from $19.00 to $18.00 and set a “hold” rating on the stock in a research report on Friday. Citigroup raised shares of KeyCorp from a “neutral” rating to a “buy” rating and set a $20.00 price target on the stock in a research note on Monday, March 10th. Stephens reaffirmed an “overweight” rating and set a $20.00 target price on shares of KeyCorp in a research report on Wednesday, January 22nd. Barclays increased their price objective on KeyCorp from $19.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. Finally, Piper Sandler raised their target price on shares of KeyCorp from $19.00 to $22.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. Eight investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $19.58.

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.