Avantax Advisory Services Inc. Acquires 5,706 Shares of KeyCorp (NYSE:KEY)

Avantax Advisory Services Inc. increased its holdings in shares of KeyCorp (NYSE:KEY) by 7.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 77,711 shares of the financial services provider’s stock after buying an additional 5,706 shares during the quarter. Avantax Advisory Services Inc.’s holdings in KeyCorp were worth $1,332,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

KEY has been the subject of a number of recent research reports. Citigroup raised KeyCorp from a “neutral” rating to a “buy” rating and set a $20.00 target price for the company in a report on Monday, March 10th. Piper Sandler upped their target price on KeyCorp from $19.00 to $22.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Stephens reaffirmed an “overweight” rating and issued a $20.00 target price on shares of KeyCorp in a report on Wednesday, January 22nd. Morgan Stanley lowered their target price on KeyCorp from $22.00 to $20.00 and set an “equal weight” rating for the company in a report on Thursday, March 13th. Finally, Truist Financial initiated coverage on KeyCorp in a report on Tuesday, January 7th. They issued a “hold” rating and a $19.00 target price for the company. Eight investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $19.64.

KeyCorp Stock Up 0.3 %

Shares of KeyCorp stock opened at $15.86 on Wednesday. KeyCorp has a one year low of $13.11 and a one year high of $20.04. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.85 and a quick ratio of 0.84. The stock’s 50-day moving average is $17.13 and its 200 day moving average is $17.42. The firm has a market cap of $17.52 billion, a price-to-earnings ratio of -52.85, a PEG ratio of 0.65 and a beta of 1.26.

KeyCorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Tuesday, March 4th were given a dividend of $0.205 per share. The ex-dividend date was Tuesday, March 4th. This represents a $0.82 annualized dividend and a dividend yield of 5.17%. KeyCorp’s payout ratio is -273.33%.

KeyCorp declared that its Board of Directors has initiated a stock repurchase program 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 buy up to 6% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Insider Activity at KeyCorp

In other news, Director Of Nova Scotia Bank purchased 50,000 shares of the business’s stock in a transaction on Wednesday, February 5th. The shares were acquired 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 in the company, valued at approximately $2,909,259,509.10. The trade was a 0.03 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.61% of the stock is owned by corporate insiders.

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.