KeyCorp (NYSE:KEY) Shares Acquired by Retirement Systems of Alabama

Retirement Systems of Alabama grew its holdings in KeyCorp (NYSE:KEY) by 6.7% during the 4th quarter, Holdings Channel reports. The firm owned 214,614 shares of the financial services provider’s stock after buying an additional 13,508 shares during the period. Retirement Systems of Alabama’s holdings in KeyCorp were worth $3,678,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Charles Schwab Investment Management Inc. grew its position in shares of KeyCorp by 3.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 31,606,503 shares of the financial services provider’s stock valued at $529,409,000 after purchasing an additional 993,942 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of KeyCorp by 3.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,114,598 shares of the financial services provider’s stock valued at $119,170,000 after purchasing an additional 222,187 shares during the last quarter. Thrivent Financial for Lutherans grew its position in shares of KeyCorp by 108.3% in the third quarter. Thrivent Financial for Lutherans now owns 5,852,233 shares of the financial services provider’s stock valued at $98,025,000 after purchasing an additional 3,042,060 shares during the last quarter. Azora Capital LP acquired a new stake in shares of KeyCorp in the third quarter valued at approximately $92,413,000. Finally, Assenagon Asset Management S.A. grew its position in shares of KeyCorp by 280.3% in the third quarter. Assenagon Asset Management S.A. now owns 4,976,965 shares of the financial services provider’s stock valued at $83,364,000 after purchasing an additional 3,668,168 shares during the last quarter. 79.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on KEY. UBS Group upped their price objective on shares of KeyCorp from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Piper Sandler upped their price objective on shares of KeyCorp from $19.00 to $22.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Stephens reissued an “overweight” rating and set a $20.00 price objective on shares of KeyCorp in a research note on Wednesday, January 22nd. Morgan Stanley reduced their price objective on shares of KeyCorp from $23.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 22nd. Finally, Robert W. Baird downgraded shares of KeyCorp from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $18.00 to $17.00 in a research note on Monday, October 14th. Nine equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, KeyCorp presently has an average rating of “Moderate Buy” and an average target price of $19.69.

Insider Activity

In other news, Director Of Nova Scotia Bank purchased 50,000 shares of the stock in a transaction that occurred 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 acquisition, the director now owns 162,983,726 shares in the company, valued at approximately $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 SEC, which can be accessed through this hyperlink. Insiders own 0.61% of the company’s stock.

KeyCorp Stock Performance

Shares of KEY stock opened at $17.52 on Tuesday. The company’s fifty day simple moving average is $17.71 and its 200-day simple moving average is $17.28. KeyCorp has a 52 week low of $13.10 and a 52 week high of $20.04. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.77. The company has a market cap of $17.36 billion, a PE ratio of -58.39, a P/E/G ratio of 0.66 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 $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.68%. The ex-dividend date is Tuesday, March 4th. KeyCorp’s dividend payout ratio is presently -273.32%.

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.