KeyCorp (NYSE:KEY) Shares Sold by Farther Finance Advisors LLC

Farther Finance Advisors LLC reduced its holdings in KeyCorp (NYSE:KEY) by 40.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,485 shares of the financial services provider’s stock after selling 8,616 shares during the quarter. Farther Finance Advisors LLC’s holdings in KeyCorp were worth $214,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of KEY. Ethos Financial Group LLC acquired a new stake in shares of KeyCorp in the 4th quarter valued at approximately $27,000. Larson Financial Group LLC lifted its holdings in shares of KeyCorp by 90.8% in the 3rd quarter. Larson Financial Group LLC now owns 1,929 shares of the financial services provider’s stock valued at $32,000 after buying an additional 918 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of KeyCorp in the 4th quarter valued at approximately $34,000. Whipplewood Advisors LLC acquired a new stake in shares of KeyCorp in the 4th quarter valued at approximately $45,000. Finally, Crews Bank & Trust purchased a new position in KeyCorp in the 4th quarter valued at approximately $51,000. 79.69% of the stock is owned by institutional investors and hedge funds.

Insider Activity at KeyCorp

In other news, Director Of Nova Scotia Bank bought 50,000 shares of KeyCorp stock in a transaction that occurred on 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 completion of the acquisition, the director now owns 162,983,726 shares of the company’s stock, valued at $2,909,259,509.10. The trade was 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 available at the SEC website. 0.61% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on KEY. Stephens reaffirmed an “overweight” rating and issued a $20.00 price objective on shares of KeyCorp in a research note on Wednesday, January 22nd. Keefe, Bruyette & Woods dropped their price objective on KeyCorp from $22.00 to $21.00 and set an “outperform” rating for the company in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $18.50 price objective on shares of KeyCorp in a research note on Monday, February 3rd. Piper Sandler raised their price objective on KeyCorp from $19.00 to $22.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Finally, Barclays raised their price objective on KeyCorp from $19.00 to $21.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, KeyCorp currently has an average rating of “Moderate Buy” and a consensus price target of $19.64.

KeyCorp Price Performance

Shares of NYSE:KEY opened at $16.07 on Thursday. The company has a market cap of $17.75 billion, a P/E ratio of -53.55, a P/E/G ratio of 0.65 and a beta of 1.26. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.77. KeyCorp has a 52 week low of $13.11 and a 52 week high of $20.04. The business has a fifty day simple moving average of $17.11 and a 200-day simple moving average of $17.41.

KeyCorp declared that its Board of Directors has authorized a share buyback plan on Thursday, March 13th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to reacquire up to 6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management 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 given a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 5.10%. The ex-dividend date of this dividend was Tuesday, March 4th. KeyCorp’s dividend payout ratio is currently -273.33%.

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.