Rialto Wealth Management LLC Purchases New Shares in KeyCorp (NYSE:KEY)

Rialto Wealth Management LLC purchased a new position in KeyCorp (NYSE:KEY) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 3,318 shares of the financial services provider’s stock, valued at approximately $57,000.

Other institutional investors have also added to or reduced their stakes in the company. Ethos Financial Group LLC purchased a new stake in shares of KeyCorp in the 4th quarter worth about $27,000. Larson Financial Group LLC grew its holdings in KeyCorp by 90.8% in the third quarter. Larson Financial Group LLC now owns 1,929 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 918 shares during the period. SBI Securities Co. Ltd. bought a new position in shares of KeyCorp during the fourth quarter valued at approximately $34,000. Capital Performance Advisors LLP purchased a new position in shares of KeyCorp during the third quarter valued at approximately $38,000. Finally, Venturi Wealth Management LLC boosted its position in shares of KeyCorp by 62.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,526 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 975 shares in the last quarter. Institutional investors own 79.69% of the company’s stock.

KeyCorp Stock Down 1.2 %

KeyCorp stock opened at $15.75 on Monday. KeyCorp has a one year low of $13.11 and a one year high of $20.04. The stock has a fifty day moving average of $17.37 and a 200 day moving average of $17.49. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.84 and a current ratio of 0.85. The stock has a market cap of $17.40 billion, a PE ratio of -52.48, a price-to-earnings-growth ratio of 0.65 and a beta of 1.26.

KeyCorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th will be paid a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 5.21%. The ex-dividend date of this dividend is Tuesday, March 4th. KeyCorp’s dividend payout ratio (DPR) is presently -273.33%.

Insider Buying and Selling

In related news, Director Of Nova Scotia Bank bought 50,000 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were bought 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 owns 162,983,726 shares of the company’s stock, valued at approximately $2,909,259,509.10. This trade represents a 0.03 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.61% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on KEY shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $18.00 price objective on shares of KeyCorp in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. restated a “neutral” rating and set a $18.50 price target on shares of KeyCorp in a report on Monday, February 3rd. Wells Fargo & Company upped their price target on shares of KeyCorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Truist Financial began coverage on shares of KeyCorp in a research note on Tuesday, January 7th. They set a “hold” rating and a $19.00 price objective for the company. Finally, Barclays upped their target price on shares of KeyCorp from $19.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, KeyCorp currently has an average rating of “Moderate Buy” and an average target price of $19.69.

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.