O Shaughnessy Asset Management LLC Boosts Stock Holdings in KeyCorp (NYSE:KEY)

O Shaughnessy Asset Management LLC grew its position in KeyCorp (NYSE:KEY) by 11.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 207,143 shares of the financial services provider’s stock after purchasing an additional 21,721 shares during the period. O Shaughnessy Asset Management LLC’s holdings in KeyCorp were worth $3,550,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in KeyCorp by 7.1% in the 4th quarter. Vanguard Group Inc. now owns 116,932,760 shares of the financial services provider’s stock worth $2,004,228,000 after purchasing an additional 7,754,576 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of KeyCorp by 4.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 33,058,682 shares of the financial services provider’s stock valued at $566,626,000 after acquiring an additional 1,452,179 shares in the last quarter. Norges Bank purchased a new stake in shares of KeyCorp during the fourth quarter valued at approximately $153,235,000. Thrivent Financial for Lutherans boosted its position in KeyCorp by 5.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 6,174,383 shares of the financial services provider’s stock worth $105,829,000 after purchasing an additional 322,150 shares during the last quarter. Finally, Victory Capital Management Inc. grew its stake in 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 during the period. 79.69% of the stock is owned by institutional investors.

Insider Buying and Selling

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 purchased at an average price of $17.85 per share, with a total value of $892,500.00. Following the completion of the purchase, the director now directly owns 162,983,726 shares in the company, valued at approximately $2,909,259,509.10. This trade represents a 0.03 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.61% of the stock is owned by company insiders.

KeyCorp Trading Up 1.8 %

Shares of KEY stock opened at $16.08 on Thursday. KeyCorp has a 52-week low of $13.11 and a 52-week high of $20.04. The business’s fifty day moving average is $16.82 and its 200 day moving average is $17.41. 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 company has a market capitalization of $17.77 billion, a PE ratio of -53.60, a price-to-earnings-growth ratio of 0.65 and a beta of 1.26.

KeyCorp announced that its Board of Directors has initiated a stock 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 buy up to 6% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.

KeyCorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders 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 dividend on an annualized basis and a dividend yield of 5.10%. KeyCorp’s dividend payout ratio (DPR) is presently -273.33%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on KEY. Morgan Stanley cut their price target on shares of KeyCorp from $22.00 to $20.00 and set an “equal weight” rating on the stock in a report on Thursday, March 13th. Stephens reissued an “overweight” rating and set a $20.00 target price on shares of KeyCorp in a research report on Wednesday, January 22nd. Keefe, Bruyette & Woods lowered their price target on shares of KeyCorp from $22.00 to $21.00 and set an “outperform” rating on the stock in a report on Wednesday, January 22nd. Barclays raised their target price on KeyCorp from $19.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. Finally, Truist Financial dropped their price target on KeyCorp from $19.00 to $18.00 and set a “hold” rating on the stock in a research report on Friday, March 21st. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $19.42.

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.