Pacer Advisors Inc. Grows Position in KeyCorp (NYSE:KEY)

Pacer Advisors Inc. increased its holdings in KeyCorp (NYSE:KEY) by 38.6% in the fourth quarter, Holdings Channel reports. The fund owned 97,035 shares of the financial services provider’s stock after purchasing an additional 27,029 shares during the quarter. Pacer Advisors Inc.’s holdings in KeyCorp were worth $1,663,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in KEY. Azora Capital LP purchased a new stake in KeyCorp in the third quarter worth about $92,413,000. Assenagon Asset Management S.A. lifted its stake in KeyCorp by 280.3% in the third quarter. Assenagon Asset Management S.A. now owns 4,976,965 shares of the financial services provider’s stock worth $83,364,000 after acquiring an additional 3,668,168 shares during the period. Thrivent Financial for Lutherans lifted 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 worth $98,025,000 after acquiring an additional 3,042,060 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of 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 valued at $78,066,000 after buying an additional 2,900,971 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of KeyCorp by 279.6% during the third quarter. Victory Capital Management Inc. now owns 3,788,173 shares of the financial services provider’s stock valued at $63,452,000 after buying an additional 2,790,192 shares during the last quarter. 79.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on KEY. Truist Financial began coverage on shares of KeyCorp in a research report on Tuesday, January 7th. They set a “hold” rating and a $19.00 price target for the company. Barclays increased their price target on shares of KeyCorp from $19.00 to $21.00 and gave the company an “equal weight” rating in a research report on Monday, January 6th. Morgan Stanley decreased their price target on shares of KeyCorp from $23.00 to $22.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 22nd. The Goldman Sachs Group increased their price target 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. Finally, Baird R W lowered shares of KeyCorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 14th. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, KeyCorp has an average rating of “Moderate Buy” and an average target price of $19.58.

Insider Transactions at KeyCorp

In other news, insider Angela G. Mago sold 15,011 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $19.59, for a total transaction of $294,065.49. Following the sale, the insider now owns 234,582 shares of the company’s stock, valued at $4,595,461.38. This trade represents a 6.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Carlton L. Highsmith sold 9,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $17.14, for a total transaction of $154,260.00. Following the sale, the director now directly owns 37,864 shares in the company, valued at $648,988.96. The trade was a 19.20 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.61% of the company’s stock.

KeyCorp Price Performance

Shares of NYSE:KEY opened at $18.01 on Friday. KeyCorp has a twelve month low of $13.10 and a twelve month high of $20.04. The company’s 50 day moving average is $17.89 and its 200 day moving average is $17.19. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.77. The company has a market cap of $17.85 billion, a PE ratio of -60.01, a price-to-earnings-growth ratio of 0.64 and a beta of 1.27.

KeyCorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Tuesday, March 4th will be issued a $0.205 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $0.82 annualized dividend and a yield of 4.55%. KeyCorp’s dividend payout ratio (DPR) is presently -273.32%.

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.