63,178 Shares in KeyCorp (NYSE:KEY) Bought by GAM Holding AG

GAM Holding AG purchased a new position in KeyCorp (NYSE:KEY) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 63,178 shares of the financial services provider’s stock, valued at approximately $1,083,000.

Several other large investors also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. increased its position in KeyCorp by 3.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 31,606,503 shares of the financial services provider’s stock worth $529,409,000 after purchasing an additional 993,942 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in KeyCorp by 3.2% in 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 worth $119,170,000 after purchasing an additional 222,187 shares during the last quarter. Thrivent Financial for Lutherans increased its position in KeyCorp by 108.3% in the third quarter. Thrivent Financial for Lutherans now owns 5,852,233 shares of the financial services provider’s stock worth $98,025,000 after purchasing an additional 3,042,060 shares during the last quarter. Azora Capital LP bought a new position in KeyCorp during the third quarter valued at $92,413,000. Finally, Assenagon Asset Management S.A. increased its position in KeyCorp by 280.3% during the third quarter. Assenagon Asset Management S.A. now owns 4,976,965 shares of the financial services provider’s stock valued at $83,364,000 after acquiring an additional 3,668,168 shares during the last quarter. Institutional investors own 79.69% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other news, Director Of Nova Scotia Bank purchased 50,000 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was acquired 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 in the company, valued at $2,909,259,509.10. This represents a 0.03 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.67% of the stock is owned by insiders.

KeyCorp Price Performance

NYSE:KEY opened at $17.95 on Wednesday. KeyCorp has a 1-year low of $13.10 and a 1-year high of $20.04. The company has a 50-day moving average of $17.57 and a 200 day moving average of $17.34. 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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Tuesday, March 4th will be paid a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 4.57%. The ex-dividend date of this dividend is Tuesday, March 4th. KeyCorp’s dividend payout ratio (DPR) is presently -273.32%.

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.