AMF Tjanstepension AB Invests $6.57 Million in KeyCorp (NYSE:KEY)

AMF Tjanstepension AB acquired a new stake in KeyCorp (NYSE:KEY - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 382,817 shares of the financial services provider's stock, valued at approximately $6,573,000.

Other institutional investors have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. grew its position in KeyCorp by 4.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 33,058,682 shares of the financial services provider's stock valued at $566,626,000 after buying an additional 1,452,179 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of KeyCorp by 3.2% during 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 acquiring an additional 222,187 shares during the period. Victory Capital Management Inc. increased its stake in shares of KeyCorp by 57.0% in the 4th quarter. Victory Capital Management Inc. now owns 5,946,074 shares of the financial services provider's stock valued at $101,916,000 after purchasing an additional 2,157,901 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in shares of KeyCorp by 108.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 5,852,233 shares of the financial services provider's stock worth $98,025,000 after buying an additional 3,042,060 shares during the period. Finally, Azora Capital LP purchased a new position in shares of KeyCorp during the 3rd quarter valued at approximately $92,413,000. 79.69% of the stock is currently owned by hedge funds and other institutional investors.

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KeyCorp Trading Up 2.2 %

KEY stock traded up $0.34 during midday trading on Wednesday, hitting $15.50. 14,915,894 shares of the company's stock were exchanged, compared to its average volume of 11,936,756. KeyCorp has a 1-year low of $13.11 and a 1-year high of $20.04. The business has a 50-day simple moving average of $17.29 and a two-hundred day simple moving average of $17.47. The stock has a market capitalization of $17.12 billion, a PE ratio of -51.65, a P/E/G ratio of 0.65 and a beta of 1.26. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.77.

KeyCorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Tuesday, March 4th will be issued a $0.205 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $0.82 annualized dividend and a yield of 5.29%. KeyCorp's dividend payout ratio (DPR) is presently -273.33%.

Insider Buying and Selling at KeyCorp

In other news, Director Of Nova Scotia Bank bought 50,000 shares of the company's stock in a transaction on Wednesday, February 5th. The stock was bought at an average cost of $17.85 per share, with a total value of $892,500.00. Following the transaction, the director now directly owns 162,983,726 shares in the company, valued at $2,909,259,509.10. The trade was a 0.03 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.61% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Piper Sandler upped their price objective on shares of KeyCorp from $19.00 to $22.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 3rd. Keefe, Bruyette & Woods reduced their price objective on KeyCorp from $22.00 to $21.00 and set an "outperform" rating for the company in a research note on Wednesday, January 22nd. The Goldman Sachs Group lifted 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. Wells Fargo & Company upped their target price on shares of KeyCorp from $20.00 to $22.00 and gave the stock an "overweight" rating in a report on Friday, November 15th. Finally, Morgan Stanley decreased their price target on shares of KeyCorp from $23.00 to $22.00 and set an "equal weight" rating on the stock in a research note on Wednesday, January 22nd. Eight investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $19.75.

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.