Victory Capital Management Inc. Raises Stock Holdings in KeyCorp (NYSE:KEY)

Victory Capital Management Inc. boosted its holdings in shares of KeyCorp (NYSE:KEY) by 57.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 5,946,074 shares of the financial services provider’s stock after purchasing an additional 2,157,901 shares during the period. Victory Capital Management Inc.’s holdings in KeyCorp were worth $101,916,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Principal Financial Group Inc. boosted its position in KeyCorp by 3.4% during the fourth quarter. Principal Financial Group Inc. now owns 1,117,238 shares of the financial services provider’s stock worth $19,149,000 after purchasing an additional 36,424 shares in the last quarter. Truist Financial Corp lifted its position in shares of KeyCorp by 27.1% in the fourth quarter. Truist Financial Corp now owns 95,856 shares of the financial services provider’s stock valued at $1,643,000 after acquiring an additional 20,424 shares in the last quarter. Avanza Fonder AB purchased a new position in shares of KeyCorp in the fourth quarter valued at approximately $1,618,000. Dai ichi Life Insurance Company Ltd purchased a new position in shares of KeyCorp in the third quarter valued at approximately $798,000. Finally, State of New Jersey Common Pension Fund D lifted its position in shares of KeyCorp by 13.6% in the third quarter. State of New Jersey Common Pension Fund D now owns 304,565 shares of the financial services provider’s stock valued at $5,101,000 after acquiring an additional 36,444 shares in the last quarter. Hedge funds and other institutional investors own 79.69% of the company’s stock.

Insiders Place Their Bets

In other news, Director Of Nova Scotia Bank purchased 50,000 shares of the 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 directly owns 162,983,726 shares in the company, valued at approximately $2,909,259,509.10. This represents a 0.03 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 0.61% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on KEY shares. Truist Financial started coverage on KeyCorp in a research report on Tuesday, January 7th. They issued a “hold” rating and a $19.00 target price on the stock. Barclays raised their target price on KeyCorp from $19.00 to $21.00 and gave the company an “equal weight” rating in a research report on Monday, January 6th. Wells Fargo & Company raised their target price on KeyCorp from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Citigroup cut KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 price target for the company. in a report on Thursday, November 7th. Finally, The Goldman Sachs Group increased their price target on KeyCorp from $20.00 to $23.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, KeyCorp currently has an average rating of “Moderate Buy” and a consensus price target of $19.69.

KeyCorp Price Performance

KEY stock opened at $16.27 on Thursday. The business has a fifty day moving average of $17.43 and a two-hundred day moving average of $17.49. 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 stock has a market cap of $17.97 billion, a price-to-earnings ratio of -54.21, a price-to-earnings-growth ratio of 0.65 and a beta of 1.26. KeyCorp has a 52-week low of $13.11 and a 52-week high of $20.04.

KeyCorp Dividend Announcement

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 paid a dividend of $0.205 per share. The ex-dividend date is Tuesday, March 4th. This represents a $0.82 annualized dividend and a yield of 5.04%. KeyCorp’s dividend payout ratio (DPR) is -273.33%.

About KeyCorp

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.