Valmark Advisers Inc. Raises Stock Position in KeyCorp (NYSE:KEY)

Valmark Advisers Inc. lifted its stake in shares of KeyCorp (NYSE:KEY) by 1.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 112,077 shares of the financial services provider’s stock after acquiring an additional 2,077 shares during the quarter. Valmark Advisers Inc.’s holdings in KeyCorp were worth $1,921,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Avanza Fonder AB purchased a new position in shares of KeyCorp during the fourth quarter worth approximately $1,618,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in KeyCorp by 14.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 657,913 shares of the financial services provider’s stock valued at $10,928,000 after buying an additional 85,052 shares during the period. Dai ichi Life Insurance Company Ltd purchased a new position in KeyCorp during the third quarter valued at approximately $798,000. State of New Jersey Common Pension Fund D increased its holdings in KeyCorp by 13.6% during the third quarter. State of New Jersey Common Pension Fund D now owns 304,565 shares of the financial services provider’s stock valued at $5,101,000 after buying an additional 36,444 shares during the period. Finally, Prospector Partners LLC purchased a new position in KeyCorp during the third quarter valued at approximately $9,630,000. 79.69% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at KeyCorp

In other KeyCorp news, Director Of Nova Scotia Bank acquired 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The stock was bought at an average price of $17.85 per share, with a total value of $892,500.00. Following the purchase, the director now owns 162,983,726 shares in the company, valued at approximately $2,909,259,509.10. The trade was a 0.03 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Stephens reissued an “overweight” rating and set a $20.00 price objective on shares of KeyCorp in a report on Wednesday, January 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $18.00 price target on shares of KeyCorp in a report on Wednesday, January 22nd. Citigroup lowered shares of KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 price target on the stock. in a report on Thursday, November 7th. The Goldman Sachs Group lifted their price target on shares of KeyCorp from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Finally, Truist Financial started coverage on shares of KeyCorp in a report on Tuesday, January 7th. They issued a “hold” rating and a $19.00 price target on the stock. Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $19.69.

KeyCorp Stock Up 1.4 %

KEY stock opened at $17.73 on Monday. The stock has a market capitalization of $17.57 billion, a P/E ratio of -59.08, a P/E/G ratio of 0.66 and a beta of 1.26. The firm has a 50-day simple moving average of $17.59 and a 200-day simple moving average of $17.32. 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 $13.10 and a 52 week high of $20.04.

KeyCorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th will be paid a dividend of $0.205 per share. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.63%. KeyCorp’s dividend payout ratio is currently -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.