Headlands Technologies LLC Makes New $400,000 Investment in KeyCorp (NYSE:KEY)

Headlands Technologies LLC acquired a new stake in shares of KeyCorp (NYSE:KEY) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 23,330 shares of the financial services provider’s stock, valued at approximately $400,000.

Several other institutional investors and hedge funds have also recently modified their holdings of KEY. Whittier Trust Co. raised its holdings in KeyCorp by 110.3% during the fourth quarter. Whittier Trust Co. now owns 1,525 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 800 shares during the period. Ethos Financial Group LLC purchased a new stake in shares of KeyCorp during the fourth quarter worth about $27,000. SBI Securities Co. Ltd. bought a new stake in KeyCorp during the 4th quarter valued at approximately $34,000. TCTC Holdings LLC lifted its holdings in KeyCorp by 38.6% in the 4th quarter. TCTC Holdings LLC now owns 2,195 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 611 shares in the last quarter. Finally, Whipplewood Advisors LLC bought a new position in KeyCorp in the 4th quarter worth approximately $45,000. 79.69% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Of Nova Scotia Bank purchased 50,000 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were acquired at an average price of $17.85 per share, with a total value of $892,500.00. Following the transaction, the director now owns 162,983,726 shares of the company’s stock, valued at $2,909,259,509.10. This represents a 0.03 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.61% of the company’s stock.

KeyCorp Stock Down 12.2 %

Shares of NYSE KEY opened at $14.11 on Friday. The company has a market cap of $15.59 billion, a P/E ratio of -47.02, a PEG ratio of 0.65 and a beta of 1.26. The firm has a 50-day simple moving average of $16.75 and a two-hundred day simple moving average of $17.38. KeyCorp has a 1 year low of $13.11 and a 1 year high of $20.04. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.85 and a quick ratio of 0.84.

KeyCorp declared that its board has approved a share repurchase plan on Thursday, March 13th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the financial services provider to buy up to 6% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.

KeyCorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th were given a $0.205 dividend. The ex-dividend date was Tuesday, March 4th. This represents a $0.82 annualized dividend and a yield of 5.81%. KeyCorp’s dividend payout ratio (DPR) is -273.33%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Morgan Stanley lowered their target price on shares of KeyCorp from $22.00 to $20.00 and set an “equal weight” rating on the stock in a report on Thursday, March 13th. DA Davidson dropped their price objective on shares of KeyCorp from $22.00 to $21.00 and set a “buy” rating for the company in a report on Wednesday, January 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $18.00 target price on shares of KeyCorp in a report on Wednesday, January 22nd. Barclays increased their price target on KeyCorp from $19.00 to $21.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Finally, Keefe, Bruyette & Woods decreased their price objective on KeyCorp from $22.00 to $21.00 and set an “outperform” rating on the stock in a report on Wednesday, January 22nd. Eight research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, KeyCorp has an average rating of “Moderate Buy” and a consensus target price of $19.31.

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.