Prevail Innovative Wealth Advisors LLC Invests $183,000 in KeyCorp (NYSE:KEY)

Prevail Innovative Wealth Advisors LLC bought a new stake in KeyCorp (NYSE:KEY) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 10,702 shares of the financial services provider’s stock, valued at approximately $183,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in KEY. Cerity Partners LLC raised its stake in shares of KeyCorp by 31.5% in the third quarter. Cerity Partners LLC now owns 195,456 shares of the financial services provider’s stock valued at $3,274,000 after purchasing an additional 46,835 shares in the last quarter. Larson Financial Group LLC increased its holdings in KeyCorp by 90.8% during the 3rd quarter. Larson Financial Group LLC now owns 1,929 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 918 shares in the last quarter. Townsquare Capital LLC raised its holdings in shares of KeyCorp by 34.0% in the third quarter. Townsquare Capital LLC now owns 34,715 shares of the financial services provider’s stock valued at $581,000 after buying an additional 8,814 shares during the last quarter. Glenmede Trust Co. NA raised its stake in shares of KeyCorp by 14.3% in the third quarter. Glenmede Trust Co. NA now owns 67,102 shares of the financial services provider’s stock worth $1,124,000 after acquiring an additional 8,399 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in KeyCorp by 3.2% during 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 buying an additional 222,187 shares in the last quarter. 79.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on KEY shares. Wells Fargo & Company cut their target price on shares of KeyCorp from $22.00 to $20.00 and set an “overweight” rating on the stock in a research report on Friday. Truist Financial decreased their price target on shares of KeyCorp from $19.00 to $18.00 and set a “hold” rating for the company in a report on Friday, March 21st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $18.00 price objective on shares of KeyCorp in a research note on Wednesday, January 22nd. Citigroup dropped their target price on shares of KeyCorp from $20.00 to $19.00 and set a “buy” rating on the stock in a report on Monday, March 24th. Finally, Keefe, Bruyette & Woods cut their price target 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 issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $19.42.

Insider Buying and Selling at KeyCorp

In other KeyCorp news, Director Of Nova Scotia Bank bought 50,000 shares of the stock in a transaction dated Wednesday, February 5th. The shares were bought at an average cost of $17.85 per share, with a total value of $892,500.00. Following the completion of the acquisition, the director now owns 162,983,726 shares of the company’s stock, valued at $2,909,259,509.10. This trade represents a 0.03 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.61% of the company’s stock.

KeyCorp Stock Down 2.3 %

KEY opened at $15.80 on Monday. KeyCorp has a 1-year low of $13.11 and a 1-year high of $20.04. The stock has a market cap of $17.46 billion, a PE ratio of -52.65, a price-to-earnings-growth ratio of 0.65 and a beta of 1.26. The stock’s fifty day simple moving average is $16.93 and its 200 day simple moving average is $17.42. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.77.

KeyCorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th were given a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 5.19%. The ex-dividend date of this dividend was Tuesday, March 4th. KeyCorp’s payout ratio is -273.33%.

KeyCorp declared that its Board of Directors has approved a share buyback program on Thursday, March 13th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its shares are undervalued.

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.