Whittier Trust Co. Purchases 800 Shares of KeyCorp (NYSE:KEY)

Whittier Trust Co. grew its position in KeyCorp (NYSE:KEY) by 110.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,525 shares of the financial services provider’s stock after acquiring an additional 800 shares during the quarter. Whittier Trust Co.’s holdings in KeyCorp were worth $26,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ethos Financial Group LLC purchased a new stake in KeyCorp during the fourth quarter valued at approximately $27,000. Larson Financial Group LLC increased its position in shares of KeyCorp by 90.8% during the third quarter. Larson Financial Group LLC now owns 1,929 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 918 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of KeyCorp during the 4th quarter valued at $34,000. TCTC Holdings LLC lifted its holdings in shares of KeyCorp by 38.6% during the 4th quarter. TCTC Holdings LLC now owns 2,195 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 611 shares during the last quarter. Finally, Whipplewood Advisors LLC acquired a new stake in shares of KeyCorp in the 4th quarter worth $45,000. Hedge funds and other institutional investors own 79.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on KEY shares. Citigroup reduced their target price on KeyCorp from $20.00 to $19.00 and set a “buy” rating on the stock in a research report on Monday. The Goldman Sachs Group upped their price objective on shares of KeyCorp from $20.00 to $23.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Barclays lifted their target price on shares of KeyCorp from $19.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. Royal Bank of Canada restated an “outperform” rating and set a $18.00 price target on shares of KeyCorp in a research note on Wednesday, January 22nd. Finally, Piper Sandler lifted their price objective on shares of KeyCorp from $19.00 to $22.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Eight analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, KeyCorp has an average rating of “Moderate Buy” and an average price target of $19.53.

KeyCorp Stock Up 2.9 %

Shares of KEY opened at $16.62 on Tuesday. The company has a market capitalization of $18.36 billion, a price-to-earnings ratio of -55.38, a PEG ratio of 0.65 and a beta of 1.26. KeyCorp has a 52 week low of $13.11 and a 52 week high of $20.04. The stock’s 50-day moving average price is $17.07 and its 200-day moving average price is $17.41. 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th were given a $0.205 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $0.82 annualized dividend and a yield of 4.94%. KeyCorp’s dividend payout ratio is presently -273.33%.

KeyCorp declared that its board has authorized a share repurchase program on Thursday, March 13th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the financial services provider to reacquire up to 6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Insider Transactions at KeyCorp

In other news, Director Of Nova Scotia Bank bought 50,000 shares of the stock in a transaction dated 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 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 position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.61% of the company’s stock.

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.