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

Tyler Stone Wealth Management grew its position in shares of KeyCorp (NYSE:KEY) by 6.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 176,237 shares of the financial services provider’s stock after purchasing 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.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Whittier Trust Co. increased its holdings in KeyCorp by 110.3% in the fourth quarter. Whittier Trust Co. now owns 1,525 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 800 shares during the period. Ethos Financial Group LLC bought a new stake in shares of KeyCorp in the 4th quarter valued at about $27,000. Larson Financial Group LLC increased its stake in shares of KeyCorp by 90.8% in the third quarter. Larson Financial Group LLC now owns 1,929 shares of the financial services provider’s stock valued at $32,000 after buying an additional 918 shares during the period. SBI Securities Co. Ltd. bought a new position in shares of KeyCorp during the fourth quarter worth about $34,000. Finally, TCTC Holdings LLC lifted its stake 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 worth $38,000 after acquiring an additional 611 shares during the period. 79.69% of the stock is currently owned by institutional investors.

KeyCorp Price Performance

Shares of NYSE KEY opened at $16.58 on Wednesday. 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 firm’s 50-day simple moving average is $17.05 and its 200 day simple moving average is $17.42. The stock has a market cap of $18.32 billion, a price-to-earnings ratio of -55.26, a PEG ratio of 0.65 and a beta of 1.26. KeyCorp has a fifty-two week low of $13.11 and a fifty-two week high of $20.04.

KeyCorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Tuesday, March 4th were given a dividend of $0.205 per share. The ex-dividend date was Tuesday, March 4th. This represents a $0.82 annualized dividend and a dividend yield of 4.95%. KeyCorp’s payout ratio is -273.33%.

KeyCorp announced that its Board of Directors has initiated a share buyback program on Thursday, March 13th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the financial services provider to purchase up to 6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

A number of analysts have weighed in on KEY shares. Royal Bank of Canada reissued an “outperform” rating and set a $18.00 target price on shares of KeyCorp in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $18.50 price objective on shares of KeyCorp in a research report on Monday, February 3rd. Piper Sandler boosted their target price on shares of KeyCorp from $19.00 to $22.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Truist Financial decreased their price target on KeyCorp from $19.00 to $18.00 and set a “hold” rating for the company in a report on Friday, March 21st. Finally, DA Davidson dropped their price objective on KeyCorp from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Wednesday, January 22nd. Eight analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $19.53.

Insider Buying and Selling

In other news, Director Of Nova Scotia Bank acquired 50,000 shares of the business’s stock in a transaction on Wednesday, February 5th. The shares were purchased at an average cost of $17.85 per share, with a total value of $892,500.00. Following the acquisition, the director now directly owns 162,983,726 shares of the company’s stock, valued at $2,909,259,509.10. The trade was a 0.03 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.61% 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.