HUB Investment Partners LLC Acquires 4,531 Shares of KeyCorp (NYSE:KEY)

HUB Investment Partners LLC lifted its holdings in KeyCorp (NYSE:KEY) by 37.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 16,547 shares of the financial services provider’s stock after purchasing an additional 4,531 shares during the quarter. HUB Investment Partners LLC’s holdings in KeyCorp were worth $284,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. OneDigital Investment Advisors LLC increased its holdings in KeyCorp by 15.5% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 16,772 shares of the financial services provider’s stock worth $281,000 after purchasing an additional 2,256 shares in the last quarter. Pathstone Holdings LLC boosted its position in shares of KeyCorp by 1.2% during the third quarter. Pathstone Holdings LLC now owns 205,485 shares of the financial services provider’s stock worth $3,442,000 after buying an additional 2,477 shares during the period. Caprock Group LLC bought a new position in shares of KeyCorp during the third quarter worth about $354,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in KeyCorp in the 3rd quarter valued at approximately $582,000. Finally, Raymond James Trust N.A. lifted its stake in KeyCorp by 54.9% in the 3rd quarter. Raymond James Trust N.A. now owns 46,721 shares of the financial services provider’s stock valued at $783,000 after acquiring an additional 16,566 shares in the last quarter. 79.69% of the stock is owned by institutional investors.

KeyCorp Stock Performance

NYSE KEY opened at $16.14 on Friday. The stock has a market cap of $17.83 billion, a PE ratio of -53.78, a P/E/G ratio of 0.65 and a beta of 1.26. 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 firm has a 50-day moving average of $17.08 and a 200-day moving average of $17.40. KeyCorp has a 52-week low of $13.11 and a 52-week high of $20.04.

KeyCorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th were issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 5.08%. The ex-dividend date of this dividend was Tuesday, March 4th. KeyCorp’s dividend payout ratio is presently -273.33%.

KeyCorp announced that its Board of Directors has authorized a stock repurchase program on Thursday, March 13th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the financial services provider to buy up to 6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Piper Sandler raised their price target on shares of KeyCorp from $19.00 to $22.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $18.50 price target on shares of KeyCorp in a research note on Monday, February 3rd. Keefe, Bruyette & Woods reduced their price objective on shares of KeyCorp from $22.00 to $21.00 and set an “outperform” rating for the company in a research note on Wednesday, January 22nd. DA Davidson decreased their price objective on KeyCorp from $22.00 to $21.00 and set a “buy” rating for the company in a report on Wednesday, January 22nd. Finally, The Goldman Sachs Group increased their price target on KeyCorp from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $19.58.

Insider Transactions at KeyCorp

In other news, Director Of Nova Scotia Bank bought 50,000 shares of the company’s stock in a transaction dated 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 acquisition, the director now owns 162,983,726 shares of the company’s stock, valued at $2,909,259,509.10. This represents a 0.03 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate 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.