State of Alaska Department of Revenue Sells 14,415 Shares of KeyCorp (NYSE:KEY)

State of Alaska Department of Revenue decreased its position in shares of KeyCorp (NYSE:KEY - Free Report) by 11.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 113,010 shares of the financial services provider's stock after selling 14,415 shares during the quarter. State of Alaska Department of Revenue's holdings in KeyCorp were worth $1,936,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of KEY. Financial Advocates Investment Management increased its holdings in KeyCorp by 2.3% in the 3rd quarter. Financial Advocates Investment Management now owns 26,872 shares of the financial services provider's stock valued at $450,000 after acquiring an additional 602 shares during the last quarter. HM Payson & Co. increased its holdings in KeyCorp by 27.0% in the 3rd quarter. HM Payson & Co. now owns 3,060 shares of the financial services provider's stock valued at $51,000 after acquiring an additional 650 shares during the last quarter. Graypoint LLC increased its holdings in KeyCorp by 4.7% in the 3rd quarter. Graypoint LLC now owns 14,954 shares of the financial services provider's stock valued at $250,000 after acquiring an additional 675 shares during the last quarter. Vontobel Holding Ltd. increased its holdings in KeyCorp by 2.1% in the 3rd quarter. Vontobel Holding Ltd. now owns 33,728 shares of the financial services provider's stock valued at $565,000 after acquiring an additional 679 shares during the last quarter. Finally, Ballentine Partners LLC increased its holdings in KeyCorp by 5.7% in the 4th quarter. Ballentine Partners LLC now owns 12,855 shares of the financial services provider's stock valued at $220,000 after acquiring an additional 692 shares during the last quarter. Hedge funds and other institutional investors own 79.69% of the company's stock.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Citigroup downgraded shares of KeyCorp from a "buy" rating to a "neutral" rating and set a $19.00 price target on the stock. in a report on Thursday, November 7th. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $18.50 price target 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 report on Wednesday, October 23rd. Barclays boosted their target price on shares of KeyCorp from $19.00 to $21.00 and gave the stock an "equal weight" rating in a report on Monday, January 6th. Finally, Keefe, Bruyette & Woods reduced their target price on shares of KeyCorp from $22.00 to $21.00 and set an "outperform" rating on the stock in a report on Wednesday, January 22nd. Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat, KeyCorp currently has an average rating of "Moderate Buy" and an average target price of $19.69.

KeyCorp Trading Up 1.4 %

NYSE:KEY traded up $0.25 during mid-day trading on Friday, hitting $17.73. 8,283,918 shares of the stock traded hands, compared to its average volume of 13,900,512. The stock has a market capitalization of $17.57 billion, a price-to-earnings ratio of -59.08, a PEG ratio of 0.66 and a beta of 1.26. KeyCorp has a 52 week low of $13.10 and a 52 week high of $20.04. The firm's 50 day moving average is $17.59 and its two-hundred day moving average is $17.31. 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 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Tuesday, March 4th will be issued a dividend of $0.205 per share. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $0.82 annualized dividend and a yield of 4.63%. KeyCorp's payout ratio is -273.32%.

Insider Activity at KeyCorp

In related news, Director Of Nova Scotia Bank acquired 50,000 shares of the 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 approximately $2,909,259,509.10. This represents a 0.03 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.61% of the stock is currently owned by insiders.

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.