KeyCorp (NYSE:KEY) Upgraded at Citigroup

Citigroup upgraded shares of KeyCorp (NYSE:KEY) from a neutral rating to a buy rating in a report published on Monday morning, MarketBeat Ratings reports. They currently have $20.00 target price on the financial services provider’s stock.

A number of other equities analysts have also weighed in on the company. Wells Fargo & Company boosted their price objective on KeyCorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. The Goldman Sachs Group boosted their price objective on KeyCorp from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Piper Sandler boosted their price objective on KeyCorp from $19.00 to $22.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Keefe, Bruyette & Woods lowered their price objective on KeyCorp from $22.00 to $21.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 22nd. Finally, Truist Financial started coverage on KeyCorp in a research report on Tuesday, January 7th. They issued a “hold” rating and a $19.00 target price on the stock. Eight research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.75.

KeyCorp Stock Performance

Shares of NYSE:KEY opened at $15.50 on Monday. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.85 and a quick ratio of 0.84. The business’s 50 day moving average price is $17.26 and its 200-day moving average price is $17.45. The firm has a market capitalization of $17.12 billion, a PE ratio of -51.65, a P/E/G ratio of 0.65 and a beta of 1.26. KeyCorp has a 1 year low of $13.11 and a 1 year high of $20.04.

KeyCorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th will be given a dividend of $0.205 per share. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $0.82 annualized dividend and a dividend yield of 5.29%. KeyCorp’s dividend payout ratio is currently -273.33%.

Insider Transactions at KeyCorp

In other KeyCorp news, Director Of Nova Scotia Bank acquired 50,000 shares of the stock in a transaction dated Wednesday, February 5th. The stock was acquired at an average cost 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 $2,909,259,509.10. The trade was a 0.03 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.61% of the company’s stock.

Institutional Trading of KeyCorp

A number of large investors have recently made changes to their positions in the company. TCTC Holdings LLC boosted its position in shares of KeyCorp by 38.6% in the 4th quarter. TCTC Holdings LLC now owns 2,195 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 611 shares during the period. Signaturefd LLC boosted 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 purchasing an additional 614 shares during the period. Modera Wealth Management LLC boosted its position in shares of KeyCorp by 3.9% in the 4th 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. Integrated Wealth Concepts LLC boosted its position in shares of KeyCorp by 2.6% in the 4th quarter. Integrated Wealth Concepts LLC now owns 24,679 shares of the financial services provider’s stock valued at $423,000 after purchasing an additional 631 shares during the period. Finally, Ballentine Partners LLC boosted its position in shares of KeyCorp by 5.7% in the 4th 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. 79.69% of the stock is owned by institutional investors and hedge funds.

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.