Fortress Financial Group LLC Purchases Shares of 12,663 KeyCorp (NYSE:KEY)

Fortress Financial Group LLC acquired a new position in KeyCorp (NYSE:KEY) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 12,663 shares of the financial services provider’s stock, valued at approximately $217,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in KEY. American Capital Advisory LLC acquired a new position in KeyCorp in the third quarter worth approximately $28,000. Larson Financial Group LLC raised its holdings in 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 period. Catalyst Capital Advisors LLC purchased a new stake in KeyCorp during the third quarter valued at about $35,000. Capital Performance Advisors LLP acquired a new position in shares of KeyCorp in the third quarter worth about $38,000. Finally, Venturi Wealth Management LLC increased its position in shares of KeyCorp by 62.9% in the third quarter. Venturi Wealth Management LLC now owns 2,526 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 975 shares in the last quarter. 79.69% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other KeyCorp news, Director Of Nova Scotia Bank bought 50,000 shares of the stock in a transaction on Wednesday, February 5th. The shares were purchased at an average price of $17.85 per share, with a total value of $892,500.00. Following the acquisition, the director now directly 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.67% of the company’s stock.

KeyCorp Trading Up 0.8 %

NYSE:KEY opened at $17.00 on Friday. 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 company’s 50 day moving average is $17.47 and its 200-day moving average is $17.46. The firm has a market cap of $16.85 billion, a price-to-earnings ratio of -56.65, a P/E/G ratio of 0.65 and a beta of 1.26. KeyCorp has a 12 month low of $13.10 and a 12 month high of $20.04.

KeyCorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th will be given a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 4.82%. The ex-dividend date is Tuesday, March 4th. KeyCorp’s dividend payout ratio is -273.33%.

Wall Street Analysts Forecast Growth

KEY has been the subject of a number of recent analyst reports. Citigroup lowered shares of KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 price objective for the company. in a research note on Thursday, November 7th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $18.50 target price on shares of KeyCorp in a research note on Monday, February 3rd. Wells Fargo & Company increased their price target on shares of KeyCorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Piper Sandler upped their price objective on shares of KeyCorp from $19.00 to $22.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Finally, Barclays lifted their target price on shares of KeyCorp from $19.00 to $21.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Nine equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.69.

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.