National Pension Service Grows Position in KeyCorp (NYSE:KEY)

National Pension Service increased its holdings in shares of KeyCorp (NYSE:KEY - Free Report) by 1,124.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,679,582 shares of the financial services provider's stock after purchasing an additional 1,542,456 shares during the period. National Pension Service owned approximately 0.17% of KeyCorp worth $28,788,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Los Angeles Capital Management LLC grew its position in shares of KeyCorp by 42.5% during the 4th quarter. Los Angeles Capital Management LLC now owns 1,623,874 shares of the financial services provider's stock worth $27,833,000 after buying an additional 483,932 shares during the period. Amalgamated Bank boosted its stake in KeyCorp by 1.1% during the fourth quarter. Amalgamated Bank now owns 184,291 shares of the financial services provider's stock worth $3,159,000 after acquiring an additional 2,064 shares in the last quarter. FourThought Financial Partners LLC acquired a new stake in KeyCorp in the fourth quarter worth $177,000. IFP Advisors Inc increased its stake in KeyCorp by 4.8% in the fourth quarter. IFP Advisors Inc now owns 16,260 shares of the financial services provider's stock valued at $282,000 after purchasing an additional 739 shares in the last quarter. Finally, Union Bancaire Privee UBP SA bought a new stake in KeyCorp in the fourth quarter valued at $1,849,000. 79.69% of the stock is currently owned by institutional investors.

KeyCorp Stock Performance

KeyCorp stock traded up $0.03 during mid-day trading on Wednesday, reaching $16.27. 16,463,695 shares of the company's stock were exchanged, compared to its average volume of 11,911,471. The business's fifty day simple moving average is $17.43 and its 200 day simple moving average is $17.49. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.77. KeyCorp has a one year low of $13.11 and a one year high of $20.04. The firm has a market capitalization of $17.97 billion, a PE ratio of -54.21, a P/E/G ratio of 0.65 and a beta of 1.26.

KeyCorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th will be paid a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 5.04%. The ex-dividend date of this dividend is Tuesday, March 4th. KeyCorp's payout ratio is -273.33%.

Analysts Set New Price Targets

Several brokerages have recently commented on KEY. Morgan Stanley reduced their target price on KeyCorp from $23.00 to $22.00 and set an "equal weight" rating for the company in a research note on Wednesday, January 22nd. Barclays raised their price objective on KeyCorp from $19.00 to $21.00 and gave the company an "equal weight" rating in a research note on Monday, January 6th. Keefe, Bruyette & Woods lowered their target price on KeyCorp from $22.00 to $21.00 and set an "outperform" rating on the stock in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $18.50 target price on shares of KeyCorp in a report on Monday, February 3rd. Finally, Royal Bank of Canada restated an "outperform" rating and set a $18.00 price target on shares of KeyCorp in a research note on Wednesday, January 22nd. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, KeyCorp currently has a consensus rating of "Moderate Buy" and an average target price of $19.69.

Insider Buying and Selling

In other news, Director Of Nova Scotia Bank bought 50,000 shares of the firm'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 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. This represents a 0.03 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.61% of the stock is owned by insiders.

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.