Machina Capital S.A.S. Invests $1 Million in KeyCorp (NYSE:KEY)

Machina Capital S.A.S. bought a new position in shares of KeyCorp (NYSE:KEY) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 58,323 shares of the financial services provider’s stock, valued at approximately $1,000,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in KEY. Ethos Financial Group LLC acquired a new stake in KeyCorp during the 4th quarter worth about $27,000. Larson Financial Group LLC boosted its stake in shares of KeyCorp by 90.8% in the third 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. purchased a new position in KeyCorp during the fourth quarter valued at approximately $34,000. Catalyst Capital Advisors LLC acquired a new position in KeyCorp in the third quarter valued at approximately $35,000. Finally, Capital Performance Advisors LLP purchased a new stake in KeyCorp in the 3rd quarter worth approximately $38,000. 79.69% of the stock is currently owned by institutional investors and hedge funds.

KeyCorp Price Performance

Shares of NYSE KEY opened at $15.75 on Friday. The firm has a 50-day simple moving average of $17.37 and a 200-day simple moving average of $17.48. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $17.40 billion, a price-to-earnings ratio of -52.48, a price-to-earnings-growth ratio of 0.65 and a beta of 1.26. KeyCorp has a 52 week low of $13.11 and a 52 week high of $20.04.

KeyCorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th will be paid a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 5.21%. The ex-dividend date of this dividend is Tuesday, March 4th. KeyCorp’s dividend payout ratio (DPR) is -273.33%.

Insider Transactions at KeyCorp

In related news, Director Of Nova Scotia Bank bought 50,000 shares of the business’s stock in a transaction on Wednesday, February 5th. The stock was acquired at an average cost of $17.85 per share, with a total value of $892,500.00. Following the purchase, the director now directly 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

KEY has been the subject of several recent research reports. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $18.50 target price on shares of KeyCorp in a report on Monday, February 3rd. Keefe, Bruyette & Woods cut their price objective on shares of KeyCorp from $22.00 to $21.00 and set an “outperform” rating for the company in a report on Wednesday, January 22nd. The Goldman Sachs Group increased their target price on shares of KeyCorp from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Stephens restated an “overweight” rating and issued a $20.00 price target on shares of KeyCorp in a research note on Wednesday, January 22nd. Finally, Wells Fargo & Company increased their price target on KeyCorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Nine analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $19.69.

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.