State of Alaska Department of Revenue Decreases Stock Holdings in KeyCorp (NYSE:KEY)

State of Alaska Department of Revenue lessened its stake in KeyCorp (NYSE:KEY) by 11.3% in the 4th 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 reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Centennial Wealth Advisory LLC increased its stake in shares of KeyCorp by 6.0% during the fourth quarter. Centennial Wealth Advisory LLC now owns 40,275 shares of the financial services provider’s stock worth $690,000 after purchasing an additional 2,279 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of KeyCorp by 19.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 782,593 shares of the financial services provider’s stock worth $13,459,000 after buying an additional 124,680 shares in the last quarter. Yousif Capital Management LLC boosted its position in KeyCorp by 1.5% during the fourth quarter. Yousif Capital Management LLC now owns 133,317 shares of the financial services provider’s stock worth $2,285,000 after acquiring an additional 1,938 shares during the last quarter. Retirement Systems of Alabama grew its stake in KeyCorp by 6.7% during the 4th quarter. Retirement Systems of Alabama now owns 214,614 shares of the financial services provider’s stock valued at $3,678,000 after acquiring an additional 13,508 shares in the last quarter. Finally, Greenwood Capital Associates LLC raised its holdings in KeyCorp by 15.2% in the 4th quarter. Greenwood Capital Associates LLC now owns 82,517 shares of the financial services provider’s stock valued at $1,414,000 after acquiring an additional 10,867 shares during the last quarter. 79.69% of the stock is currently owned by institutional investors and hedge funds.

KeyCorp Stock Performance

Shares of KEY opened at $17.56 on Wednesday. KeyCorp has a 52-week low of $13.10 and a 52-week high of $20.04. The firm has a market capitalization of $17.40 billion, a PE ratio of -58.51, a P/E/G ratio of 0.66 and a beta of 1.26. The firm has a 50-day moving average price of $17.68 and a 200 day moving average price of $17.29. 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 Dividend Announcement

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 $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 4.67%. KeyCorp’s dividend payout ratio is currently -273.33%.

Insider Buying and Selling

In related news, Director Of Nova Scotia Bank bought 50,000 shares of the business’s stock in a transaction on Wednesday, February 5th. The stock was bought at an average price of $17.85 per share, for a total transaction 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. This represents a 0.03 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.67% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Barclays boosted their target price on KeyCorp from $19.00 to $21.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. Morgan Stanley dropped their target price on KeyCorp from $23.00 to $22.00 and set an “equal weight” rating for the company in a report on Wednesday, January 22nd. Keefe, Bruyette & Woods reduced their price target on KeyCorp from $22.00 to $21.00 and set an “outperform” rating on the stock in a report on Wednesday, January 22nd. Wells Fargo & Company upped their price objective on shares of KeyCorp from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Finally, DA Davidson reduced their target price on shares of KeyCorp from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Wednesday, January 22nd. Nine equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $19.69.

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.