OneAscent Financial Services LLC Buys 1,396 Shares of KeyCorp (NYSE:KEY)

OneAscent Financial Services LLC lifted its stake in shares of KeyCorp (NYSE:KEY) by 4.7% during the 4th quarter, HoldingsChannel reports. The firm owned 30,797 shares of the financial services provider’s stock after acquiring an additional 1,396 shares during the period. OneAscent Financial Services LLC’s holdings in KeyCorp were worth $528,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. TCTC Holdings LLC boosted its holdings in KeyCorp by 38.6% in the fourth quarter. TCTC Holdings LLC now owns 2,195 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 611 shares in the last quarter. Signaturefd LLC grew its position in KeyCorp by 16.0% in the 4th quarter. Signaturefd LLC now owns 4,453 shares of the financial services provider’s stock valued at $76,000 after purchasing an additional 614 shares during the period. Modera Wealth Management LLC increased its stake in KeyCorp by 3.9% during the 4th quarter. Modera Wealth Management LLC now owns 16,521 shares of the financial services provider’s stock valued at $283,000 after purchasing an additional 627 shares in the last quarter. Ballentine Partners LLC raised its holdings in KeyCorp by 5.7% during the fourth quarter. Ballentine Partners LLC now owns 12,855 shares of the financial services provider’s stock worth $220,000 after buying an additional 692 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of KeyCorp by 0.4% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 175,512 shares of the financial services provider’s stock valued at $3,008,000 after buying an additional 695 shares in the last quarter. 79.69% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on KEY. DA Davidson decreased their target price on shares of KeyCorp from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Wednesday, January 22nd. Royal Bank of Canada reissued an “outperform” rating and issued a $18.00 price objective on shares of KeyCorp in a research note on Wednesday, January 22nd. Wells Fargo & Company cut their target price on KeyCorp from $22.00 to $20.00 and set an “overweight” rating on the stock in a research report on Friday, March 28th. JPMorgan Chase & Co. lowered their price target on KeyCorp from $18.50 to $16.50 and set a “neutral” rating for the company in a research report on Thursday. Finally, Morgan Stanley cut their price objective 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. Eight investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $19.31.

KeyCorp Trading Down 12.2 %

NYSE:KEY opened at $14.11 on Friday. KeyCorp has a 12 month low of $13.11 and a 12 month high of $20.04. 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 firm’s 50 day moving average is $16.75 and its 200 day moving average is $17.38. The stock has a market capitalization of $15.59 billion, a PE ratio of -47.02, a price-to-earnings-growth ratio of 0.65 and a beta of 1.26.

KeyCorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th were paid a dividend of $0.205 per share. The ex-dividend date was Tuesday, March 4th. This represents a $0.82 annualized dividend and a dividend yield of 5.81%. KeyCorp’s payout ratio is -273.33%.

KeyCorp announced that its board has initiated a share repurchase plan on Thursday, March 13th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to repurchase up to 6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In other KeyCorp news, Director Of Nova Scotia Bank acquired 50,000 shares of KeyCorp stock in a transaction that occurred on 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 purchase, the director now owns 162,983,726 shares of the company’s stock, valued at approximately $2,909,259,509.10. This represents a 0.03 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.61% of the stock is currently owned by insiders.

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.