KeyCorp (NYSE:KEY) Shares Acquired by CIBC Asset Management Inc

CIBC Asset Management Inc increased its position in shares of KeyCorp (NYSE:KEY) by 10.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 149,148 shares of the financial services provider’s stock after purchasing an additional 13,656 shares during the period. CIBC Asset Management Inc’s holdings in KeyCorp were worth $2,556,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Financial Advocates Investment Management raised its stake in shares of KeyCorp by 2.3% during the 3rd quarter. Financial Advocates Investment Management now owns 26,872 shares of the financial services provider’s stock worth $450,000 after buying an additional 602 shares in the last quarter. HM Payson & Co. raised its position in KeyCorp by 27.0% in the third quarter. HM Payson & Co. now owns 3,060 shares of the financial services provider’s stock worth $51,000 after acquiring an additional 650 shares in the last quarter. Graypoint LLC raised its position in KeyCorp by 4.7% in the third quarter. Graypoint LLC now owns 14,954 shares of the financial services provider’s stock worth $250,000 after acquiring an additional 675 shares in the last quarter. Ballentine Partners LLC boosted its position in shares of KeyCorp by 5.7% during the 4th quarter. Ballentine Partners LLC now owns 12,855 shares of the financial services provider’s stock worth $220,000 after purchasing an additional 692 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of KeyCorp by 0.4% during the 4th 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 purchasing an additional 695 shares in the last quarter. Institutional investors and hedge funds own 79.69% of the company’s stock.

Insider Transactions at KeyCorp

In related news, Director Of Nova Scotia Bank acquired 50,000 shares of the stock in a transaction dated Wednesday, February 5th. The stock was bought at an average cost of $17.85 per share, with a total value of $892,500.00. Following the purchase, the director now directly owns 162,983,726 shares of the company’s stock, 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 filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on KEY shares. Keefe, Bruyette & Woods reduced their price objective on shares of KeyCorp from $22.00 to $21.00 and set an “outperform” rating for the company in a research note on Wednesday, January 22nd. DA Davidson reduced their price target on shares of KeyCorp from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Wednesday, January 22nd. Wells Fargo & Company upped their price target on KeyCorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Barclays lifted their price objective on KeyCorp from $19.00 to $21.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. Finally, Piper Sandler upped 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. Nine investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, KeyCorp currently has an average rating of “Moderate Buy” and an average price target of $19.69.

KeyCorp Stock Performance

KeyCorp stock opened at $16.94 on Friday. The stock has a fifty day moving average price of $17.54 and a 200 day moving average price of $17.37. KeyCorp has a 52 week low of $13.10 and a 52 week high of $20.04. The firm has a market capitalization of $16.80 billion, a P/E ratio of -56.47, a PEG ratio of 0.67 and a beta of 1.26. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.77.

KeyCorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th will be paid a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.84%. The ex-dividend date is Tuesday, March 4th. KeyCorp’s dividend payout ratio is currently -273.33%.

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.