Park Avenue Securities LLC Acquires 7,497 Shares of KeyCorp (NYSE:KEY)

Park Avenue Securities LLC raised its holdings in shares of KeyCorp (NYSE:KEY) by 33.1% in the 4th quarter, Holdings Channel reports. The firm owned 30,137 shares of the financial services provider’s stock after purchasing an additional 7,497 shares during the quarter. Park Avenue Securities LLC’s holdings in KeyCorp were worth $517,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in KEY. Pacer Advisors Inc. boosted its position in KeyCorp by 4.6% in the 2nd quarter. Pacer Advisors Inc. now owns 67,218 shares of the financial services provider’s stock valued at $955,000 after buying an additional 2,985 shares during the period. Ensign Peak Advisors Inc raised its stake in shares of KeyCorp by 4.8% during the second quarter. Ensign Peak Advisors Inc now owns 366,336 shares of the financial services provider’s stock valued at $5,206,000 after acquiring an additional 16,650 shares in the last quarter. ProShare Advisors LLC boosted its holdings in shares of KeyCorp by 5.5% in the second quarter. ProShare Advisors LLC now owns 191,470 shares of the financial services provider’s stock valued at $2,721,000 after purchasing an additional 10,052 shares during the period. Public Sector Pension Investment Board grew its stake in KeyCorp by 8.5% in the second quarter. Public Sector Pension Investment Board now owns 159,883 shares of the financial services provider’s stock worth $2,272,000 after purchasing an additional 12,575 shares in the last quarter. Finally, Marshall Wace LLP increased its holdings in KeyCorp by 4,518.6% during the 2nd quarter. Marshall Wace LLP now owns 845,211 shares of the financial services provider’s stock worth $12,010,000 after purchasing an additional 826,911 shares during the period. 79.69% of the stock is currently owned by institutional investors.

Insider Activity

In other KeyCorp news, insider Angela G. Mago sold 15,011 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $19.59, for a total transaction of $294,065.49. Following the completion of the transaction, the insider now directly owns 234,582 shares in the company, valued at approximately $4,595,461.38. This represents a 6.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Carlton L. Highsmith sold 9,000 shares of KeyCorp stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $17.14, for a total value of $154,260.00. Following the completion of the sale, the director now owns 37,864 shares in the company, valued at approximately $648,988.96. The trade was a 19.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.61% of the company’s stock.

KeyCorp Price Performance

Shares of NYSE:KEY opened at $17.47 on Friday. The company’s 50 day moving average is $18.10 and its 200 day moving average is $17.06. The company has a market cap of $17.32 billion, a PE ratio of -58.24, a price-to-earnings-growth ratio of 0.67 and a beta of 1.27. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.09. KeyCorp has a twelve month low of $13.10 and a twelve month high of $20.04.

KeyCorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th will be issued a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 4.69%. The ex-dividend date of this dividend is Tuesday, March 4th. KeyCorp’s payout ratio is -273.32%.

Analyst Ratings Changes

KEY has been the subject of several research reports. Keefe, Bruyette & Woods lowered their target price on KeyCorp from $22.00 to $21.00 and set an “outperform” rating for the company in a report on Wednesday. Stephens reaffirmed an “overweight” rating and issued a $20.00 price objective on shares of KeyCorp in a research note on Wednesday. Truist Financial began coverage on shares of KeyCorp in a research report on Tuesday, January 7th. They set a “hold” rating and a $19.00 target price on the stock. UBS Group upped their price target on shares of KeyCorp from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Finally, The Goldman Sachs Group increased their price objective on shares of KeyCorp from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Nine equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $19.58.

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.