SBI Securities Co. Ltd. Purchases New Position in KeyCorp (NYSE:KEY)

SBI Securities Co. Ltd. acquired a new stake in KeyCorp (NYSE:KEY) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,973 shares of the financial services provider’s stock, valued at approximately $34,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its stake in shares of KeyCorp by 3.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 31,606,503 shares of the financial services provider’s stock worth $529,409,000 after acquiring an additional 993,942 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of KeyCorp by 3.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,114,598 shares of the financial services provider’s stock worth $119,170,000 after acquiring an additional 222,187 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of KeyCorp by 108.3% in the third quarter. Thrivent Financial for Lutherans now owns 5,852,233 shares of the financial services provider’s stock worth $98,025,000 after acquiring an additional 3,042,060 shares during the last quarter. Azora Capital LP acquired a new stake in shares of KeyCorp in the third quarter worth approximately $92,413,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in shares of KeyCorp by 164.9% in the third 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 acquiring an additional 2,900,971 shares during the last quarter. 79.69% of the stock is currently owned by hedge funds and other institutional investors.

KeyCorp Price Performance

NYSE:KEY opened at $15.17 on Wednesday. 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. The company has a market capitalization of $16.76 billion, a P/E ratio of -50.55, a P/E/G ratio of 0.65 and a beta of 1.26. The stock’s fifty day moving average is $17.29 and its two-hundred day moving average is $17.47.

KeyCorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Tuesday, March 4th will be issued a $0.205 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $0.82 annualized dividend and a dividend yield of 5.41%. KeyCorp’s dividend payout ratio is presently -273.33%.

Wall Street Analysts Forecast Growth

KEY has been the topic of a number of research analyst reports. Barclays lifted their price target on KeyCorp from $19.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. Citigroup raised KeyCorp from a “neutral” rating to a “buy” rating and set a $20.00 price target on the stock in a research note on Monday. Royal Bank of Canada reissued an “outperform” rating and set a $18.00 price objective on shares of KeyCorp in a research note on Wednesday, January 22nd. 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. Finally, DA Davidson lowered their price objective on KeyCorp from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Wednesday, January 22nd. 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, KeyCorp presently has a consensus rating of “Moderate Buy” and an average target price of $19.75.

Insider Activity at KeyCorp

In other news, Director Of Nova Scotia Bank acquired 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The shares were purchased at an average price of $17.85 per share, for a total transaction of $892,500.00. Following the acquisition, the director now owns 162,983,726 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.61% of the company’s stock.

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.