KeyCorp (NYSE:KEY) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems reduced its holdings in shares of KeyCorp (NYSE:KEY) by 1.4% during the 4th quarter, HoldingsChannel reports. The firm owned 63,779 shares of the financial services provider’s stock after selling 879 shares during the period. Kentucky Retirement Systems’ holdings in KeyCorp were worth $1,093,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of KEY. Charles Schwab Investment Management Inc. grew its holdings in shares of KeyCorp by 3.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 31,606,503 shares of the financial services provider’s stock worth $529,409,000 after buying an additional 993,942 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of KeyCorp by 3.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,114,598 shares of the financial services provider’s stock valued at $119,170,000 after purchasing an additional 222,187 shares during the last quarter. Thrivent Financial for Lutherans increased its holdings in shares of KeyCorp by 108.3% in the third quarter. Thrivent Financial for Lutherans now owns 5,852,233 shares of the financial services provider’s stock valued at $98,025,000 after purchasing an additional 3,042,060 shares during the period. Azora Capital LP purchased a new stake in shares of KeyCorp during the third quarter worth approximately $92,413,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of KeyCorp by 164.9% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,660,680 shares of the financial services provider’s stock worth $78,066,000 after purchasing an additional 2,900,971 shares during the period. 79.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Of Nova Scotia Bank acquired 50,000 shares of KeyCorp stock in a transaction dated Wednesday, February 5th. The shares were acquired at an average cost of $17.85 per share, for a total transaction 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 $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 through this hyperlink. Company insiders own 0.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on KEY shares. Wells Fargo & Company boosted their price objective on shares of KeyCorp from $20.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Piper Sandler boosted 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. 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 report on Wednesday, January 22nd. Truist Financial initiated coverage on KeyCorp in a research report on Tuesday, January 7th. They set a “hold” rating and a $19.00 target price on the stock. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $18.00 price target on shares of KeyCorp in a report on Wednesday, January 22nd. Nine analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.69.

KeyCorp Price Performance

KeyCorp stock opened at $16.94 on Monday. 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 firm’s 50-day simple moving average is $17.52 and its 200 day simple moving average is $17.44. KeyCorp has a 52 week low of $13.10 and a 52 week high of $20.04. The firm has a market capitalization of $16.80 billion, a PE ratio of -56.47, a P/E/G ratio of 0.65 and a beta of 1.26.

KeyCorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th will be given a $0.205 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $0.82 annualized dividend and a dividend yield of 4.84%. KeyCorp’s dividend payout ratio is presently -273.32%.

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.