Securian Asset Management Inc. Buys 1,943 Shares of KeyCorp (NYSE:KEY)

Securian Asset Management Inc. grew its stake in KeyCorp (NYSE:KEY) by 3.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 53,275 shares of the financial services provider’s stock after purchasing an additional 1,943 shares during the quarter. Securian Asset Management Inc.’s holdings in KeyCorp were worth $913,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. raised its holdings in KeyCorp by 4.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 33,058,682 shares of the financial services provider’s stock worth $566,626,000 after purchasing an additional 1,452,179 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in KeyCorp by 3.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,114,598 shares of the financial services provider’s stock worth $119,170,000 after purchasing an additional 222,187 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of KeyCorp by 57.0% in the 4th quarter. Victory Capital Management Inc. now owns 5,946,074 shares of the financial services provider’s stock worth $101,916,000 after buying an additional 2,157,901 shares during the period. Thrivent Financial for Lutherans grew its position in shares of KeyCorp by 108.3% in the 3rd quarter. Thrivent Financial for Lutherans now owns 5,852,233 shares of the financial services provider’s stock worth $98,025,000 after buying an additional 3,042,060 shares during the period. Finally, Azora Capital LP purchased a new stake in shares of KeyCorp in the 3rd quarter worth about $92,413,000. 79.69% of the stock is currently owned by institutional investors.

Insider Transactions at KeyCorp

In other KeyCorp news, Director Of Nova Scotia Bank acquired 50,000 shares of the stock in a transaction dated Wednesday, February 5th. The shares were purchased at an average price of $17.85 per share, for a total transaction of $892,500.00. Following the purchase, the director now directly 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 filing with the SEC, which is accessible through this link. Company insiders own 0.61% of the company’s stock.

KeyCorp Stock Performance

Shares of NYSE KEY opened at $15.68 on Friday. The firm’s 50-day moving average price is $17.19 and its 200-day moving average price is $17.43. 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 company has a market cap of $17.32 billion, a PE ratio of -52.25, a PEG 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 declared that its Board of Directors has authorized a stock buyback program on Thursday, March 13th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.

KeyCorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th were paid a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 5.23%. The ex-dividend date of this dividend was Tuesday, March 4th. KeyCorp’s dividend payout ratio (DPR) is presently -273.33%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on KEY. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $18.50 target price on shares of KeyCorp in a research report on Monday, February 3rd. Stephens reaffirmed an “overweight” rating and issued a $20.00 target price on shares of KeyCorp in a research report on Wednesday, January 22nd. Morgan Stanley reduced their target price on shares of KeyCorp from $22.00 to $20.00 and set an “equal weight” rating on the stock in a research report on Thursday. Keefe, Bruyette & Woods reduced their target price on shares of KeyCorp from $22.00 to $21.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 22nd. Finally, Citigroup raised shares of KeyCorp from a “neutral” rating to a “buy” rating and set a $20.00 price objective on the stock in a research report on Monday, March 10th. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $19.64.

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.