KeyCorp (NYSE:KEY) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund reduced its stake in shares of KeyCorp (NYSE:KEY) by 6.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 547,459 shares of the financial services provider’s stock after selling 40,500 shares during the period. New York State Common Retirement Fund owned approximately 0.06% of KeyCorp worth $9,383,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in KEY. Kentucky Retirement Systems Insurance Trust Fund lifted its stake in shares of KeyCorp by 15.6% in the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 31,754 shares of the financial services provider’s stock valued at $544,000 after purchasing an additional 4,275 shares during the period. Proactive Wealth Strategies LLC lifted its holdings in KeyCorp by 4.1% during the fourth quarter. Proactive Wealth Strategies LLC now owns 17,886 shares of the financial services provider’s stock valued at $307,000 after purchasing an additional 699 shares in the last quarter. GAM Holding AG purchased a new stake in shares of KeyCorp during the fourth quarter worth about $1,083,000. Truist Financial Corp lifted its stake in KeyCorp by 27.1% in the 4th quarter. Truist Financial Corp now owns 95,856 shares of the financial services provider’s stock valued at $1,643,000 after buying an additional 20,424 shares in the last quarter. Finally, CIBC Asset Management Inc increased its stake in KeyCorp by 10.1% during the 4th quarter. CIBC Asset Management Inc now owns 149,148 shares of the financial services provider’s stock worth $2,556,000 after buying an additional 13,656 shares in the last quarter. Institutional investors and hedge funds own 79.69% of the company’s stock.

KeyCorp Trading Down 0.4 %

KEY opened at $16.70 on Wednesday. KeyCorp has a 52 week low of $13.10 and a 52 week high of $20.04. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.77. The business has a fifty day simple moving average of $17.47 and a 200-day simple moving average of $17.47. The firm has a market cap of $16.55 billion, a P/E ratio of -55.65, a P/E/G ratio of 0.65 and a beta of 1.26.

KeyCorp Dividend Announcement

The firm also recently disclosed 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. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.91%. The ex-dividend date is Tuesday, March 4th. KeyCorp’s dividend payout ratio (DPR) is currently -273.33%.

Analyst Upgrades and Downgrades

KEY has been the topic of several research reports. Piper Sandler raised their target price on KeyCorp from $19.00 to $22.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. Stephens reaffirmed an “overweight” rating and set a $20.00 target price on shares of KeyCorp in a research note on Wednesday, January 22nd. The Goldman Sachs Group raised their price target 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 price objective on shares of KeyCorp from $20.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Finally, 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. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock 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 KeyCorp stock in a transaction that occurred on Wednesday, February 5th. The shares were purchased at an average price of $17.85 per share, with a total value of $892,500.00. Following the completion of the acquisition, 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 ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.67% of the stock is 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.