Jones Financial Companies Lllp Raises Stock Position in KeyCorp (NYSE:KEY)

Jones Financial Companies Lllp grew its holdings in KeyCorp (NYSE:KEY) by 13.6% during the 4th quarter, Holdings Channel.com reports. The fund owned 145,026 shares of the financial services provider’s stock after acquiring an additional 17,319 shares during the period. Jones Financial Companies Lllp’s holdings in KeyCorp were worth $2,486,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. American Capital Advisory LLC bought a new stake in KeyCorp during the 3rd quarter valued at approximately $28,000. Larson Financial Group LLC grew its holdings in KeyCorp by 90.8% during the 3rd quarter. Larson Financial Group LLC now owns 1,929 shares of the financial services provider’s stock valued at $32,000 after buying an additional 918 shares in the last quarter. Catalyst Capital Advisors LLC bought a new stake in shares of KeyCorp during the third quarter valued at approximately $35,000. Capital Performance Advisors LLP purchased a new position in shares of KeyCorp in the third quarter worth $38,000. Finally, Venturi Wealth Management LLC boosted its position in shares of KeyCorp by 62.9% during the third quarter. Venturi Wealth Management LLC now owns 2,526 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 975 shares during the last quarter. Institutional investors own 79.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Wells Fargo & Company lifted their price target on shares of KeyCorp from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Stephens reaffirmed an “overweight” rating and issued a $20.00 target price on shares of KeyCorp in a report on Wednesday, January 22nd. JPMorgan Chase & Co. reissued a “neutral” rating and set a $18.50 price target on shares of KeyCorp in a research note on Monday, February 3rd. Truist Financial began coverage on KeyCorp in a research note on Tuesday, January 7th. They issued a “hold” rating and a $19.00 price objective on the stock. Finally, DA Davidson lowered their target price on KeyCorp from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Wednesday, January 22nd. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $19.69.

Insider Activity

In other KeyCorp news, Director Of Nova Scotia Bank bought 50,000 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The stock was acquired at an average cost of $17.85 per share, for a total transaction 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 trade represents a 0.03 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.61% of the company’s stock.

KeyCorp Price Performance

KeyCorp stock opened at $16.27 on Thursday. The firm has a market capitalization of $17.97 billion, a PE ratio of -54.21, a price-to-earnings-growth ratio of 0.65 and a beta of 1.26. KeyCorp has a 12-month low of $13.11 and a 12-month high of $20.04. The firm has a 50-day moving average price of $17.43 and a 200-day moving average price of $17.49. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.77.

KeyCorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th will be given a dividend of $0.205 per share. The ex-dividend date is Tuesday, March 4th. This represents a $0.82 annualized dividend and a dividend yield of 5.04%. KeyCorp’s dividend payout ratio (DPR) is presently -273.33%.

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.