Xponance Inc. Buys 2,214 Shares of KeyCorp (NYSE:KEY)

Xponance Inc. boosted its stake in KeyCorp (NYSE:KEY) by 1.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 131,476 shares of the financial services provider’s stock after purchasing an additional 2,214 shares during the period. Xponance Inc.’s holdings in KeyCorp were worth $2,253,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in KEY. Charles Schwab Investment Management Inc. grew its holdings in shares of KeyCorp by 4.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 33,058,682 shares of the financial services provider’s stock worth $566,626,000 after acquiring an additional 1,452,179 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of KeyCorp by 3.2% during the 3rd 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 purchasing an additional 222,187 shares during the period. Thrivent Financial for Lutherans increased its position in shares of KeyCorp by 5.5% during the 4th quarter. Thrivent Financial for Lutherans now owns 6,174,383 shares of the financial services provider’s stock valued at $105,829,000 after purchasing an additional 322,150 shares during the last quarter. Victory Capital Management Inc. lifted 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 worth $101,916,000 after purchasing an additional 2,157,901 shares during the period. Finally, Azora Capital LP purchased a new position in shares of KeyCorp in the third quarter worth approximately $92,413,000. 79.69% of the stock is currently owned by hedge funds and other institutional investors.

KeyCorp Stock Up 0.3 %

Shares of KEY stock opened at $16.14 on Friday. The stock has a market cap of $17.83 billion, a P/E ratio of -53.78, a PEG ratio of 0.65 and a beta of 1.26. The company’s fifty day simple moving average is $17.08 and its two-hundred day simple moving average is $17.40. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.77. KeyCorp has a 52 week low of $13.11 and a 52 week high of $20.04.

KeyCorp announced that its Board of Directors has initiated a stock repurchase plan on Thursday, March 13th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows 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 management believes its shares are undervalued.

KeyCorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Tuesday, March 4th were paid a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 5.08%. The ex-dividend date was Tuesday, March 4th. KeyCorp’s payout ratio is presently -273.33%.

Insider Buying and Selling at KeyCorp

In other KeyCorp news, Director Of Nova Scotia Bank purchased 50,000 shares of KeyCorp stock in a transaction that occurred on Wednesday, February 5th. The shares were bought at an average price of $17.85 per share, for a total transaction 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 approximately $2,909,259,509.10. This trade represents a 0.03 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.61% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

KEY has been the subject of a number of research reports. Keefe, Bruyette & Woods reduced their target price on shares of KeyCorp from $22.00 to $21.00 and set an “outperform” rating for the company in a report on Wednesday, January 22nd. The Goldman Sachs Group raised their target price on KeyCorp from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Morgan Stanley cut their price target on KeyCorp from $22.00 to $20.00 and set an “equal weight” rating for the company in a report on Thursday, March 13th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $18.50 price objective on shares of KeyCorp in a research note on Monday, February 3rd. Finally, Stephens reiterated an “overweight” rating and set a $20.00 price objective on shares of KeyCorp in a research note on Wednesday, January 22nd. Eight 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, the company currently has a consensus rating of “Moderate Buy” and an average price target of $19.58.

About KeyCorp

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.