Machina Capital S.A.S. Acquires New Shares in KeyCorp (NYSE:KEY)

Machina Capital S.A.S. bought a new position in shares of KeyCorp (NYSE:KEY) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 58,323 shares of the financial services provider’s stock, valued at approximately $1,000,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its position in shares of KeyCorp by 4.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 33,058,682 shares of the financial services provider’s stock worth $566,626,000 after purchasing an additional 1,452,179 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of KeyCorp by 3.2% during 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 valued at $119,170,000 after acquiring an additional 222,187 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of KeyCorp by 57.0% in the 4th quarter. Victory Capital Management Inc. now owns 5,946,074 shares of the financial services provider’s stock valued at $101,916,000 after acquiring an additional 2,157,901 shares during the period. Thrivent Financial for Lutherans lifted its holdings in shares of KeyCorp by 108.3% in the 3rd 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. Finally, Azora Capital LP purchased a new position in shares of KeyCorp during the 3rd quarter worth approximately $92,413,000. Hedge funds and other institutional investors own 79.69% of the company’s stock.

KeyCorp Stock Performance

NYSE:KEY opened at $15.75 on Friday. KeyCorp has a 12 month low of $13.11 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 firm has a market capitalization of $17.40 billion, a PE ratio of -52.48, a price-to-earnings-growth ratio of 0.65 and a beta of 1.26. The business’s fifty day moving average price is $17.37 and its 200 day moving average price is $17.48.

KeyCorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th will be given a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 5.21%. The ex-dividend date of this dividend is Tuesday, March 4th. KeyCorp’s dividend payout ratio (DPR) is presently -273.33%.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

KEY has been the topic of a number of research analyst reports. Wells Fargo & Company boosted their target price on KeyCorp from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $18.50 price objective on shares of KeyCorp in a report on Monday, February 3rd. Barclays raised their target price on KeyCorp from $19.00 to $21.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Truist Financial assumed coverage on shares of KeyCorp in a research note on Tuesday, January 7th. They set a “hold” rating and a $19.00 price target on the stock. Finally, DA Davidson lowered their price objective on shares of KeyCorp from $22.00 to $21.00 and set a “buy” rating for the company in a research note on Wednesday, January 22nd. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $19.69.

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.