Merit Financial Group LLC Acquires 35,385 Shares of KeyCorp (NYSE:KEY)

Merit Financial Group LLC lifted its stake in KeyCorp (NYSE:KEY) by 153.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 58,407 shares of the financial services provider’s stock after acquiring an additional 35,385 shares during the period. Merit Financial Group LLC’s holdings in KeyCorp were worth $1,001,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of KEY. Wolff Wiese Magana LLC boosted its holdings 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 purchasing an additional 1,142 shares during the period. American Capital Advisory LLC bought a new stake in shares of KeyCorp in the third quarter valued at about $28,000. Larson Financial Group LLC grew its position in 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 buying an additional 918 shares in the last quarter. Catalyst Capital Advisors LLC bought a new position in KeyCorp during the third quarter valued at about $35,000. Finally, Capital Performance Advisors LLP acquired a new position in KeyCorp in the 3rd quarter valued at approximately $38,000. Institutional investors own 79.69% of the company’s stock.

Insiders Place Their Bets

In other news, Director Carlton L. Highsmith sold 9,000 shares of KeyCorp stock in a transaction on Tuesday, November 5th. The stock was 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 directly owns 37,864 shares of the company’s stock, valued at approximately $648,988.96. This trade represents a 19.20 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Angela G. Mago sold 15,011 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $19.59, for a total value of $294,065.49. Following the transaction, the insider now directly owns 234,582 shares in the company, valued at $4,595,461.38. This trade represents a 6.01 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.67% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on KEY shares. UBS Group boosted their price objective on KeyCorp from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Robert W. Baird cut shares of KeyCorp from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $18.00 to $17.00 in a research note on Monday, October 14th. The Goldman Sachs Group lifted their target price on shares of KeyCorp from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Barclays increased their price target on shares of KeyCorp from $19.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. Finally, Wedbush lifted their price objective on KeyCorp from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Tuesday, September 24th. Nine research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $19.44.

KeyCorp Stock Performance

Shares of NYSE:KEY opened at $17.68 on Wednesday. The business has a fifty day moving average of $18.16 and a 200-day moving average of $17.04. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.88 and a current ratio of 0.88. KeyCorp has a twelve month low of $13.10 and a twelve month high of $20.04. The firm has a market cap of $17.52 billion, a PE ratio of 1,767.50, a price-to-earnings-growth ratio of 0.69 and a beta of 1.27.

KeyCorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th will be given a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 4.64%. The ex-dividend date is Tuesday, March 4th. KeyCorp’s payout ratio is presently 8,200.00%.

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.