Hartford Investment Management Co. Boosts Stake in KeyCorp (NYSE:KEY)

Hartford Investment Management Co. increased its holdings in shares of KeyCorp (NYSE:KEY) by 6.1% during the fourth quarter, HoldingsChannel reports. The fund owned 61,982 shares of the financial services provider’s stock after buying an additional 3,563 shares during the period. Hartford Investment Management Co.’s holdings in KeyCorp were worth $1,062,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of KEY. Wolff Wiese Magana LLC grew its stake in shares of KeyCorp by 285.5% during the 3rd quarter. Wolff Wiese Magana LLC now owns 1,542 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 1,142 shares during the period. American Capital Advisory LLC purchased a new stake in KeyCorp during the third quarter worth about $28,000. Larson Financial Group LLC grew its position in KeyCorp by 90.8% during the third quarter. Larson Financial Group LLC now owns 1,929 shares of the financial services provider’s stock worth $32,000 after buying an additional 918 shares during the period. Catalyst Capital Advisors LLC purchased a new position in KeyCorp in the third quarter valued at about $35,000. Finally, Capital Performance Advisors LLP acquired a new stake in shares of KeyCorp during the 3rd quarter valued at approximately $38,000. Hedge funds and other institutional investors own 79.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on KEY. Stephens reaffirmed an “overweight” rating and issued a $20.00 price objective on shares of KeyCorp in a research note on Wednesday, January 22nd. The Goldman Sachs Group raised their price target on KeyCorp from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Morgan Stanley decreased their price objective on shares of KeyCorp from $23.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 22nd. Piper Sandler raised their target price on shares of KeyCorp from $19.00 to $22.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Finally, 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 report on Monday, January 6th. Nine equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $19.69.

KeyCorp Trading Up 1.4 %

NYSE KEY opened at $17.73 on Friday. The company has a market cap of $17.57 billion, a P/E ratio of -59.08, a P/E/G ratio of 0.66 and a beta of 1.26. KeyCorp has a 12 month low of $13.10 and a 12 month high of $20.04. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.85 and a quick ratio of 0.84. The company has a 50-day moving average of $17.61 and a 200-day moving average of $17.30.

KeyCorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th will be paid a dividend of $0.205 per share. 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 dividend payout ratio is currently -273.32%.

Insider Buying and Selling at KeyCorp

In other news, Director Of Nova Scotia Bank acquired 50,000 shares of KeyCorp stock in a transaction dated 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 position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.61% of the stock is owned by company insiders.

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.