Natixis Advisors LLC Increases Stock Holdings in KeyCorp (NYSE:KEY)

Natixis Advisors LLC lifted its stake in shares of KeyCorp (NYSE:KEY) by 10.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 761,384 shares of the financial services provider’s stock after purchasing an additional 71,915 shares during the quarter. Natixis Advisors LLC owned about 0.08% of KeyCorp worth $13,050,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of KEY. Azora Capital LP acquired a new position in KeyCorp during the 3rd quarter worth approximately $92,413,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of KeyCorp by 164.9% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,660,680 shares of the financial services provider’s stock worth $78,066,000 after purchasing an additional 2,900,971 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of KeyCorp during the 4th quarter worth $42,827,000. Victory Capital Management Inc. increased its holdings in shares of KeyCorp by 57.0% in the 4th quarter. Victory Capital Management Inc. now owns 5,946,074 shares of the financial services provider’s stock valued at $101,916,000 after purchasing an additional 2,157,901 shares in the last quarter. Finally, National Pension Service lifted its stake in shares of KeyCorp by 1,124.8% in the fourth quarter. National Pension Service now owns 1,679,582 shares of the financial services provider’s stock valued at $28,788,000 after purchasing an additional 1,542,456 shares during the period. 79.69% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at KeyCorp

In other news, Director Of Nova Scotia Bank purchased 50,000 shares of the company’s stock in a transaction on Wednesday, February 5th. The stock was bought at an average cost 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. The trade was a 0.03 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.61% of the company’s stock.

KeyCorp Price Performance

Shares of NYSE:KEY opened at $16.07 on Thursday. The company has a market cap of $17.75 billion, a P/E ratio of -53.55, a P/E/G ratio of 0.65 and a beta of 1.26. The business has a fifty day simple moving average of $17.11 and a 200-day simple moving average of $17.41. 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 initiated a stock repurchase program on Thursday, March 13th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the financial services provider to reacquire up to 6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

KeyCorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th were paid a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 5.10%. The ex-dividend date of this dividend was Tuesday, March 4th. KeyCorp’s dividend payout ratio is currently -273.33%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on KEY shares. JPMorgan Chase & Co. restated a “neutral” rating and set a $18.50 target price on shares of KeyCorp in a research report on Monday, February 3rd. Barclays raised their price objective on KeyCorp from $19.00 to $21.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Piper Sandler boosted their target price on KeyCorp from $19.00 to $22.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Truist Financial assumed coverage on KeyCorp in a research report on Tuesday, January 7th. They issued a “hold” rating and a $19.00 price target for the company. Finally, Citigroup upgraded shares of KeyCorp from a “neutral” rating to a “buy” rating and set a $20.00 price objective on the stock in a research report on Monday, March 10th. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, KeyCorp has a consensus rating of “Moderate Buy” and an average price target of $19.64.

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.