Proficio Capital Partners LLC Acquires Shares of 88,614 KeyCorp (NYSE:KEY)

Proficio Capital Partners LLC acquired a new stake in shares of KeyCorp (NYSE:KEY) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 88,614 shares of the financial services provider’s stock, valued at approximately $1,519,000.

A number of other hedge funds also recently bought and sold shares of KEY. OneDigital Investment Advisors LLC lifted its stake in KeyCorp by 15.5% during the third quarter. OneDigital Investment Advisors LLC now owns 16,772 shares of the financial services provider’s stock valued at $281,000 after buying an additional 2,256 shares in the last quarter. Natixis Advisors LLC lifted its stake 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 buying an additional 104,689 shares in the last quarter. Pathstone Holdings LLC lifted its stake in KeyCorp by 1.2% during the third quarter. Pathstone Holdings LLC now owns 205,485 shares of the financial services provider’s stock valued at $3,442,000 after buying an additional 2,477 shares in the last quarter. Caprock Group LLC acquired a new position in shares of KeyCorp in the 3rd quarter valued at about $354,000. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of KeyCorp in the 3rd quarter valued at about $2,704,000. 79.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on KEY shares. Morgan Stanley dropped their target price on KeyCorp from $22.00 to $20.00 and set an “equal weight” rating on the stock in a report on Thursday, March 13th. Piper Sandler upped their target price on KeyCorp from $19.00 to $22.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $18.00 target price on shares of KeyCorp in a report on Wednesday, January 22nd. The Goldman Sachs Group upped their target price on KeyCorp from $20.00 to $23.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Finally, Truist Financial started coverage on KeyCorp in a report on Tuesday, January 7th. They issued a “hold” rating and a $19.00 target price on the stock. Eight analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.64.

Insider Activity

In other KeyCorp news, Director Of Nova Scotia Bank acquired 50,000 shares of KeyCorp stock in a transaction dated 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 transaction, the director now 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 ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.61% of the stock is owned by company insiders.

KeyCorp Trading Up 0.4 %

Shares of KEY stock opened at $16.11 on Friday. KeyCorp has a 12 month low of $13.11 and a 12 month 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 business’s 50 day moving average is $17.09 and its two-hundred day moving average is $17.40. The company has a market cap of $17.80 billion, a PE ratio of -53.69, a price-to-earnings-growth ratio of 0.65 and a beta of 1.26.

KeyCorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th were given a $0.205 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $0.82 annualized dividend and a dividend yield of 5.09%. KeyCorp’s dividend payout ratio is -273.33%.

KeyCorp declared that its Board of Directors has initiated a share buyback plan on Thursday, March 13th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the financial services provider to repurchase up to 6% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.

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.