Chevy Chase Trust Holdings LLC Grows Stake in KeyCorp (NYSE:KEY)

Chevy Chase Trust Holdings LLC grew its position in shares of KeyCorp (NYSE:KEY) by 4.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 520,955 shares of the financial services provider’s stock after purchasing an additional 23,293 shares during the period. Chevy Chase Trust Holdings LLC owned approximately 0.05% of KeyCorp worth $8,929,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. American Capital Advisory LLC purchased a new position in KeyCorp in the third quarter worth $28,000. Larson Financial Group LLC grew its position in KeyCorp by 90.8% in the third quarter. Larson Financial Group LLC now owns 1,929 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 918 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new position in KeyCorp in the third quarter worth $35,000. Capital Performance Advisors LLP purchased a new position in KeyCorp in the third quarter worth $38,000. Finally, Venturi Wealth Management LLC grew its position in KeyCorp by 62.9% in the third quarter. Venturi Wealth Management LLC now owns 2,526 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 975 shares in the last quarter. 79.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Of Nova Scotia Bank purchased 50,000 shares of the firm’s stock in a transaction that occurred on 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 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 represents a 0.03 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.61% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Stephens reiterated an “overweight” rating and issued a $20.00 target price on shares of KeyCorp in a research report on Wednesday, January 22nd. Barclays upped their price target on shares of KeyCorp from $19.00 to $21.00 and gave the company an “equal weight” rating in a research report on Monday, January 6th. Wells Fargo & Company upped their price target on shares of KeyCorp from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Citigroup lowered shares of KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 price target for the company. in a research report on Thursday, November 7th. Finally, Piper Sandler upped their price target on shares of KeyCorp from $19.00 to $22.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. Nine equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, KeyCorp has an average rating of “Moderate Buy” and a consensus target price of $19.69.

KeyCorp Stock Performance

Shares of NYSE:KEY opened at $17.73 on Tuesday. KeyCorp has a 12 month low of $13.10 and a 12 month high of $20.04. The company has a market cap of $17.57 billion, a price-to-earnings ratio of -59.08, a price-to-earnings-growth ratio of 0.66 and a beta of 1.26. The company has a 50-day moving average price of $17.59 and a 200-day moving average price of $17.33. 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 declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Tuesday, March 4th will be paid a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 4.63%. The ex-dividend date of this dividend is Tuesday, March 4th. KeyCorp’s payout ratio is currently -273.32%.

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.