Yousif Capital Management LLC Boosts Stock Position in KeyCorp (NYSE:KEY)

Yousif Capital Management LLC lifted its stake in shares of KeyCorp (NYSE:KEY) by 1.5% in the fourth quarter, HoldingsChannel reports. The fund owned 133,317 shares of the financial services provider’s stock after acquiring an additional 1,938 shares during the period. Yousif Capital Management LLC’s holdings in KeyCorp were worth $2,285,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Avanza Fonder AB bought a new position in shares of KeyCorp in the fourth quarter worth approximately $1,618,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in KeyCorp by 14.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 657,913 shares of the financial services provider’s stock worth $10,928,000 after buying an additional 85,052 shares during the period. Dai ichi Life Insurance Company Ltd purchased a new stake in KeyCorp in the 3rd quarter worth $798,000. Prospector Partners LLC bought a new stake in KeyCorp during the third quarter valued at about $9,630,000. Finally, Natixis Advisors LLC lifted its position in shares of KeyCorp by 17.9% in the third quarter. Natixis Advisors LLC now owns 689,469 shares of the financial services provider’s stock valued at $11,549,000 after acquiring an additional 104,689 shares in the last quarter. 79.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on KEY shares. Morgan Stanley cut their target price on KeyCorp from $23.00 to $22.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $18.50 price objective on shares of KeyCorp in a report on Monday, February 3rd. Robert W. Baird downgraded shares of KeyCorp from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $18.00 to $17.00 in a report on Monday, October 14th. Citigroup cut shares of KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 target price for the company. in a research note on Thursday, November 7th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $18.00 price target on shares of KeyCorp in a research note on Wednesday, January 22nd. Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $19.69.

KeyCorp Trading Down 1.8 %

KEY stock opened at $17.52 on Tuesday. KeyCorp has a twelve month low of $13.10 and a twelve month high of $20.04. The stock has a market capitalization of $17.36 billion, a price-to-earnings ratio of -58.39, a price-to-earnings-growth ratio of 0.66 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. The firm’s fifty day simple moving average is $17.71 and its two-hundred day simple moving average is $17.28.

KeyCorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Tuesday, March 4th will be given a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 4.68%. The ex-dividend date is Tuesday, March 4th. KeyCorp’s dividend payout ratio (DPR) is currently -273.32%.

Insiders Place Their Bets

In other KeyCorp news, Director Of Nova Scotia Bank purchased 50,000 shares of KeyCorp stock in a transaction dated Wednesday, February 5th. The shares were purchased at an average cost of $17.85 per share, for a total transaction of $892,500.00. Following the completion of the acquisition, the director now owns 162,983,726 shares in the company, valued at $2,909,259,509.10. This represents a 0.03 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.61% of the stock is owned by insiders.

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.