StoneX Group Inc. Buys 22,366 Shares of KeyCorp (NYSE:KEY)

StoneX Group Inc. raised its stake in KeyCorp (NYSE:KEY) by 20.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 129,832 shares of the financial services provider’s stock after purchasing an additional 22,366 shares during the period. StoneX Group Inc.’s holdings in KeyCorp were worth $2,225,000 as of its most recent SEC filing.

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

KeyCorp Stock Down 1.4 %

NYSE KEY opened at $15.77 on Wednesday. The stock has a market capitalization of $17.43 billion, a P/E ratio of -52.57, a price-to-earnings-growth 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. 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 fifty day moving average of $16.85 and a 200-day moving average of $17.42.

KeyCorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th were given a dividend of $0.205 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $0.82 dividend on an annualized basis and a yield of 5.20%. KeyCorp’s payout ratio is presently -273.33%.

KeyCorp declared that its board has authorized a share buyback plan 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 reacquire up to 6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on KEY shares. Citigroup decreased their price target on shares of KeyCorp from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Monday, March 24th. 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 research note on Thursday, March 13th. Wells Fargo & Company dropped their price target on shares of KeyCorp from $22.00 to $20.00 and set an “overweight” rating for the company in a research report on Friday, March 28th. Truist Financial decreased their price objective on KeyCorp from $19.00 to $18.00 and set a “hold” rating on the stock in a report on Friday, March 21st. Finally, Barclays increased their target price on KeyCorp from $19.00 to $21.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. Eight investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, KeyCorp presently has an average rating of “Moderate Buy” and an average target price of $19.42.

Insider Activity

In other KeyCorp news, Director Of Nova Scotia Bank acquired 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The shares were acquired at an average cost of $17.85 per share, for a total transaction of $892,500.00. Following the completion of the acquisition, the director now directly 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 position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.61% of the company’s stock.

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.