Atria Investments Inc Sells 17,356 Shares of KeyCorp (NYSE:KEY)

Atria Investments Inc reduced its stake in KeyCorp (NYSE:KEY) by 49.4% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 17,805 shares of the financial services provider’s stock after selling 17,356 shares during the quarter. Atria Investments Inc’s holdings in KeyCorp were worth $305,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Apollon Wealth Management LLC increased its position in KeyCorp by 25.9% in the third quarter. Apollon Wealth Management LLC now owns 24,645 shares of the financial services provider’s stock worth $413,000 after buying an additional 5,077 shares during the last quarter. OneDigital Investment Advisors LLC grew its stake in shares of KeyCorp by 15.5% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 16,772 shares of the financial services provider’s stock worth $281,000 after acquiring an additional 2,256 shares during the period. CIBC Asset Management Inc increased its holdings in KeyCorp by 7.0% in the 3rd quarter. CIBC Asset Management Inc now owns 135,492 shares of the financial services provider’s stock worth $2,269,000 after acquiring an additional 8,901 shares during the last quarter. Empirical Finance LLC raised its stake in KeyCorp by 2.2% in the 3rd quarter. Empirical Finance LLC now owns 32,361 shares of the financial services provider’s stock valued at $542,000 after acquiring an additional 705 shares during the period. Finally, Natixis Advisors LLC lifted its holdings in KeyCorp by 17.9% during the third quarter. Natixis Advisors LLC now owns 689,469 shares of the financial services provider’s stock valued at $11,549,000 after purchasing an additional 104,689 shares during the last quarter. Hedge funds and other institutional investors own 79.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on KEY shares. Morgan Stanley reduced their target price on shares of KeyCorp from $22.00 to $20.00 and set an “equal weight” rating for the company in a research note on Thursday, March 13th. Keefe, Bruyette & Woods lowered their target price 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. Piper Sandler raised their price target on KeyCorp from $19.00 to $22.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Royal Bank of Canada reiterated an “outperform” rating and set a $18.00 price objective on shares of KeyCorp in a research note on Wednesday, January 22nd. Finally, Citigroup upgraded KeyCorp from a “neutral” rating to a “buy” rating and set a $20.00 target price for the company in a research note on Monday, March 10th. Eight analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, KeyCorp has an average rating of “Moderate Buy” and a consensus price target of $19.64.

KeyCorp Trading Up 0.8 %

KEY stock opened at $15.81 on Tuesday. The company has a market capitalization of $17.47 billion, a PE ratio of -52.68, a price-to-earnings-growth ratio of 0.65 and a beta of 1.26. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.84 and a current ratio of 0.85. KeyCorp has a one year low of $13.11 and a one year high of $20.04. The company’s 50 day moving average price is $17.16 and its two-hundred day moving average price is $17.43.

KeyCorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Tuesday, March 4th were given a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 5.19%. The ex-dividend date was Tuesday, March 4th. KeyCorp’s payout ratio is presently -273.33%.

KeyCorp announced that its board has approved a share buyback plan on Thursday, March 13th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the financial services provider to repurchase up to 6% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In related news, Director Of Nova Scotia Bank purchased 50,000 shares of the firm’s stock in a transaction on Wednesday, February 5th. The shares were acquired at an average cost of $17.85 per share, with a total value of $892,500.00. Following the purchase, the director now directly owns 162,983,726 shares of the company’s stock, valued at approximately $2,909,259,509.10. This trade represents a 0.03 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 0.61% of the stock is currently owned by insiders.

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.