State of Michigan Retirement System lifted its holdings in KeyCorp (NYSE:KEY - Free Report) by 5.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 284,328 shares of the financial services provider's stock after acquiring an additional 15,900 shares during the period. State of Michigan Retirement System's holdings in KeyCorp were worth $4,873,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in KEY. Larson Financial Group LLC lifted its stake in shares of KeyCorp by 90.8% in the 3rd quarter. Larson Financial Group LLC now owns 1,929 shares of the financial services provider's stock valued at $32,000 after purchasing an additional 918 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in KeyCorp during the 4th quarter valued at $34,000. Catalyst Capital Advisors LLC bought a new stake in KeyCorp in the third quarter worth $35,000. Capital Performance Advisors LLP purchased a new position in KeyCorp during the third quarter worth $38,000. Finally, Venturi Wealth Management LLC boosted its stake in KeyCorp by 62.9% during the third quarter. Venturi Wealth Management LLC now owns 2,526 shares of the financial services provider's stock worth $42,000 after buying an additional 975 shares during the period. Hedge funds and other institutional investors own 79.69% of the company's stock.
Insider Activity at KeyCorp
In related news, Director Of Nova Scotia Bank acquired 50,000 shares of the company's stock in a transaction that occurred on Wednesday, February 5th. The shares were bought at an average price 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 in the company, valued at $2,909,259,509.10. This trade represents a 0.03 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.61% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
KEY has been the subject of several analyst reports. Piper Sandler raised their target price on shares of KeyCorp from $19.00 to $22.00 and gave the stock an "overweight" rating in a report on Tuesday, December 3rd. DA Davidson reduced their price objective on shares of KeyCorp from $22.00 to $21.00 and set a "buy" rating on the stock in a research report on Wednesday, January 22nd. The Goldman Sachs Group boosted their target price on KeyCorp from $20.00 to $23.00 and gave the company a "buy" rating in a research report on Tuesday, November 26th. Wells Fargo & Company upped their target price on KeyCorp from $20.00 to $22.00 and gave the company an "overweight" rating in a research note on Friday, November 15th. Finally, Truist Financial assumed coverage on KeyCorp in a research note on Tuesday, January 7th. They set a "hold" rating and a $19.00 price target for the company. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $19.75.
Read Our Latest Stock Analysis on KeyCorp
KeyCorp Stock Down 3.7 %
NYSE:KEY traded down $0.59 during mid-day trading on Monday, reaching $15.15. The company's stock had a trading volume of 22,087,318 shares, compared to its average volume of 11,922,973. 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 1 year low of $13.11 and a 1 year high of $20.04. The stock has a fifty day moving average of $17.37 and a 200-day moving average of $17.49. The firm has a market capitalization of $16.74 billion, a PE ratio of -50.48, a price-to-earnings-growth ratio of 0.65 and a beta of 1.26.
KeyCorp Announces Dividend
The firm also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 5.41%. KeyCorp's dividend payout ratio is presently -273.33%.
About KeyCorp
(
Free Report)
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.
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