Stoneridge Investment Partners LLC Purchases New Stake in KeyCorp (NYSE:KEY)

Stoneridge Investment Partners LLC purchased a new stake in shares of KeyCorp (NYSE:KEY) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 45,776 shares of the financial services provider’s stock, valued at approximately $785,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Apollon Wealth Management LLC raised its holdings in KeyCorp by 9.3% in the 4th quarter. Apollon Wealth Management LLC now owns 26,948 shares of the financial services provider’s stock worth $462,000 after purchasing an additional 2,303 shares in the last quarter. Triasima Portfolio Management inc. raised its holdings in KeyCorp by 107.7% in the 4th quarter. Triasima Portfolio Management inc. now owns 201,580 shares of the financial services provider’s stock worth $3,455,000 after purchasing an additional 104,506 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in KeyCorp by 0.4% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 175,512 shares of the financial services provider’s stock worth $3,008,000 after purchasing an additional 695 shares in the last quarter. Centennial Wealth Advisory LLC raised its holdings in KeyCorp by 6.0% in the 4th quarter. Centennial Wealth Advisory LLC now owns 40,275 shares of the financial services provider’s stock worth $690,000 after purchasing an additional 2,279 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in KeyCorp by 19.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 782,593 shares of the financial services provider’s stock worth $13,459,000 after purchasing an additional 124,680 shares in the last quarter. 79.69% of the stock is currently owned by institutional investors.

KeyCorp Price Performance

Shares of NYSE:KEY opened at $17.84 on Friday. KeyCorp has a 52-week low of $13.10 and a 52-week 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 simple moving average is $17.71 and its two-hundred day simple moving average is $17.26.

KeyCorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th will be given a dividend of $0.205 per share. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.60%. KeyCorp’s payout ratio is currently -273.32%.

Insider Activity

In other KeyCorp news, Director Of Nova Scotia Bank purchased 50,000 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were bought at an average cost of $17.85 per share, with a total value of $892,500.00. Following the acquisition, the director now owns 162,983,726 shares in the company, valued at approximately $2,909,259,509.10. This trade represents a 0.03 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. JPMorgan Chase & Co. restated a “neutral” rating and issued a $18.50 price objective on shares of KeyCorp in a report on Monday, February 3rd. UBS Group lifted their price target on shares of KeyCorp from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Citigroup cut KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 price target on the stock. in a research report on Thursday, November 7th. Wells Fargo & Company upped their price target on KeyCorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Finally, Robert W. Baird downgraded KeyCorp from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $18.00 to $17.00 in a research note on Monday, October 14th. Nine analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus 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.