HUB Investment Partners LLC Buys 4,531 Shares of KeyCorp (NYSE:KEY)

HUB Investment Partners LLC increased its stake in KeyCorp (NYSE:KEY) by 37.7% during the fourth quarter, Holdings Channel reports. The firm owned 16,547 shares of the financial services provider’s stock after acquiring an additional 4,531 shares during the period. HUB Investment Partners LLC’s holdings in KeyCorp were worth $284,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. OneDigital Investment Advisors LLC increased its holdings in KeyCorp by 15.5% in the 3rd 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 during the period. Pathstone Holdings LLC boosted its position in shares of KeyCorp by 1.2% during the 3rd quarter. Pathstone Holdings LLC now owns 205,485 shares of the financial services provider’s stock worth $3,442,000 after acquiring an additional 2,477 shares in the last quarter. Caprock Group LLC bought a new position in KeyCorp in the third quarter valued at approximately $354,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in KeyCorp during the third quarter valued at approximately $582,000. Finally, Raymond James Trust N.A. lifted its stake in KeyCorp by 54.9% during the third quarter. Raymond James Trust N.A. now owns 46,721 shares of the financial services provider’s stock worth $783,000 after purchasing an additional 16,566 shares during the last quarter. Institutional investors and hedge funds own 79.69% of the company’s stock.

Insider Transactions at KeyCorp

In related news, Director Of Nova Scotia Bank bought 50,000 shares of the business’s stock in a transaction that occurred 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 completion of the purchase, the director now directly owns 162,983,726 shares in the company, valued at $2,909,259,509.10. The trade was a 0.03 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Piper Sandler boosted 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. Citigroup raised shares of KeyCorp from a “neutral” rating to a “buy” rating and set a $20.00 target price for the company in a report on Monday, March 10th. Truist Financial decreased their price target on shares of KeyCorp from $19.00 to $18.00 and set a “hold” rating on the stock in a report on Friday. Keefe, Bruyette & Woods dropped their price target on KeyCorp from $22.00 to $21.00 and set an “outperform” rating for the company in a research note on Wednesday, January 22nd. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $18.00 price objective on shares of KeyCorp in a report on Wednesday, January 22nd. Eight research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $19.58.

KeyCorp Stock Performance

Shares of KEY opened at $16.14 on Friday. The firm’s fifty day simple moving average is $17.08 and its two-hundred day simple moving average is $17.40. KeyCorp has a 12 month low of $13.11 and a 12 month high of $20.04. The stock has a market capitalization of $17.83 billion, a P/E ratio of -53.78, a price-to-earnings-growth ratio of 0.65 and a beta of 1.26. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.77.

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

KeyCorp Dividend Announcement

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

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.