Fortress Financial Group LLC Takes $217,000 Position in KeyCorp (NYSE:KEY)

Fortress Financial Group LLC bought a new position in shares of KeyCorp (NYSE:KEY) during the fourth quarter, HoldingsChannel reports. The firm bought 12,663 shares of the financial services provider’s stock, valued at approximately $217,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its holdings in shares of KeyCorp by 3.2% during the 3rd 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of KeyCorp by 3.2% during the 3rd 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 valued at $119,170,000 after acquiring an additional 222,187 shares in the last quarter. Thrivent Financial for Lutherans increased its stake 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 valued at $98,025,000 after acquiring an additional 3,042,060 shares during the period. Azora Capital LP acquired a new position in KeyCorp in the third quarter worth about $92,413,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in KeyCorp by 164.9% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,660,680 shares of the financial services provider’s stock worth $78,066,000 after purchasing an additional 2,900,971 shares during the period. 79.69% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other KeyCorp news, Director Of Nova Scotia Bank bought 50,000 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was purchased 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 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 legal filing with the SEC, which is available at the SEC website. 0.67% of the stock is owned by insiders.

KeyCorp Stock Up 0.8 %

Shares of KeyCorp stock opened at $17.00 on Friday. The business has a fifty day simple moving average of $17.47 and a 200 day simple moving average of $17.46. The stock has a market cap of $16.85 billion, a PE ratio of -56.65, a price-to-earnings-growth ratio of 0.65 and a beta of 1.26. 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 12 month low of $13.10 and a 12 month high of $20.04.

KeyCorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th will be paid a $0.205 dividend. 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 4.82%. KeyCorp’s dividend payout ratio (DPR) is presently -273.33%.

Analyst Ratings Changes

Several research analysts have issued reports on KEY shares. Citigroup lowered KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 price objective for the company. in a research note on Thursday, November 7th. Truist Financial began coverage on shares of KeyCorp in a report on Tuesday, January 7th. They set a “hold” rating and a $19.00 price target for the company. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $18.50 price objective on shares of KeyCorp in a research note on Monday, February 3rd. Piper Sandler lifted their price objective on KeyCorp from $19.00 to $22.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. Finally, Morgan Stanley cut their price target on KeyCorp from $23.00 to $22.00 and set an “equal weight” rating for the company in a report on Wednesday, January 22nd. Nine equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $19.69.

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.