Everstar Asset Management LLC Grows Stock Position in KeyCorp (NYSE:KEY)

Everstar Asset Management LLC boosted its position in shares of KeyCorp (NYSE:KEY) by 9.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,465 shares of the financial services provider’s stock after buying an additional 1,840 shares during the quarter. Everstar Asset Management LLC’s holdings in KeyCorp were worth $368,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Whittier Trust Co. boosted its stake in shares of KeyCorp by 110.3% during the 4th quarter. Whittier Trust Co. now owns 1,525 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 800 shares during the period. Ethos Financial Group LLC bought a new stake in KeyCorp in the fourth quarter worth about $27,000. Larson Financial Group LLC grew its stake in shares of KeyCorp by 90.8% during the third 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 last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of KeyCorp in the fourth quarter worth approximately $34,000. Finally, TCTC Holdings LLC raised its holdings in shares of KeyCorp by 38.6% in the fourth quarter. TCTC Holdings LLC now owns 2,195 shares of the financial services provider’s stock worth $38,000 after buying an additional 611 shares during the period. Institutional investors own 79.69% of the company’s stock.

KeyCorp Trading Down 2.3 %

KEY opened at $15.80 on Monday. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.77. The firm has a market cap of $17.46 billion, a price-to-earnings ratio of -52.65, a PEG ratio of 0.65 and a beta of 1.26. KeyCorp has a 12 month low of $13.11 and a 12 month high of $20.04. The stock has a fifty day moving average price of $16.93 and a 200-day moving average price of $17.42.

KeyCorp Announces Dividend

The company also recently declared 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. This represents a $0.82 annualized dividend and a dividend yield of 5.19%. The ex-dividend date was Tuesday, March 4th. KeyCorp’s payout ratio is -273.33%.

KeyCorp announced that its Board of Directors has approved a stock repurchase plan on Thursday, March 13th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the financial services provider to buy up to 6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Morgan Stanley cut their price objective on KeyCorp from $22.00 to $20.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 13th. Barclays upped their price target on shares of KeyCorp from $19.00 to $21.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $18.50 price objective on shares of KeyCorp in a report on Monday, February 3rd. Keefe, Bruyette & Woods lowered their price objective on shares of KeyCorp from $22.00 to $21.00 and set an “outperform” rating for the company in a research report on Wednesday, January 22nd. Finally, Wells Fargo & Company reduced 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. Eight research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $19.42.

Insider Activity

In other news, Director Of Nova Scotia Bank bought 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The stock was bought at an average price of $17.85 per share, with a total value of $892,500.00. Following the completion of the transaction, the director now directly owns 162,983,726 shares of the company’s stock, valued at approximately $2,909,259,509.10. The trade was a 0.03 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.61% of the company’s stock.

KeyCorp Company 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.