Mediolanum International Funds Ltd Makes New $18.98 Million Investment in KeyCorp (NYSE:KEY)

Mediolanum International Funds Ltd purchased a new stake in KeyCorp (NYSE:KEY) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 1,112,134 shares of the financial services provider’s stock, valued at approximately $18,982,000. Mediolanum International Funds Ltd owned approximately 0.11% of KeyCorp as of its most recent filing with the Securities and Exchange Commission (SEC).

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

KeyCorp Stock Up 2.1 %

KEY opened at $18.05 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.84 and a current ratio of 0.85. The business has a fifty day simple moving average of $17.95 and a 200 day simple moving average of $17.17. KeyCorp has a 1 year low of $13.10 and a 1 year high of $20.04.

KeyCorp Announces Dividend

The firm also recently declared 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. The ex-dividend date is Tuesday, March 4th. This represents a $0.82 annualized dividend and a dividend yield of 4.54%. KeyCorp’s dividend payout ratio (DPR) is presently -273.32%.

Insider Buying and Selling

In other news, insider Angela G. Mago sold 15,011 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $19.59, for a total transaction of $294,065.49. Following the transaction, the insider now directly owns 234,582 shares of the company’s stock, valued at approximately $4,595,461.38. This trade represents a 6.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Carlton L. Highsmith sold 9,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $17.14, for a total value of $154,260.00. Following the completion of the sale, the director now owns 37,864 shares of the company’s stock, valued at approximately $648,988.96. This trade represents a 19.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.61% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on KEY shares. Robert W. Baird cut shares of KeyCorp from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $18.00 to $17.00 in a research report on Monday, October 14th. Baird R W lowered KeyCorp from a “strong-buy” rating to a “hold” rating in a report on Monday, October 14th. UBS Group raised their price target on KeyCorp from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Keefe, Bruyette & Woods dropped their price objective on KeyCorp from $22.00 to $21.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 22nd. Finally, The Goldman Sachs Group raised their target price on shares of KeyCorp from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, KeyCorp currently has an average rating of “Moderate Buy” and an average price target of $19.58.

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.