Kentucky Retirement Systems Insurance Trust Fund Acquires 4,275 Shares of KeyCorp (NYSE:KEY)

Kentucky Retirement Systems Insurance Trust Fund increased its holdings in shares of KeyCorp (NYSE:KEY) by 15.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 31,754 shares of the financial services provider’s stock after acquiring an additional 4,275 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in KeyCorp were worth $544,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Proactive Wealth Strategies LLC raised its position in KeyCorp by 4.1% during the 4th 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 bought a new stake in KeyCorp during the 4th quarter valued at $1,083,000. Truist Financial Corp raised its position in KeyCorp by 27.1% during the 4th quarter. Truist Financial Corp now owns 95,856 shares of the financial services provider’s stock valued at $1,643,000 after purchasing an additional 20,424 shares in the last quarter. CIBC Asset Management Inc raised its position 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 valued at $2,556,000 after purchasing an additional 13,656 shares in the last quarter. Finally, KLCM Advisors Inc. raised its position in KeyCorp by 11.1% during the 4th quarter. KLCM Advisors Inc. now owns 151,614 shares of the financial services provider’s stock valued at $2,599,000 after purchasing an additional 15,123 shares in the last quarter. 79.69% of the stock is owned by institutional investors.

KeyCorp Stock Up 0.5 %

Shares of KEY stock opened at $18.04 on Thursday. KeyCorp has a 1-year low of $13.10 and a 1-year high of $20.04. The stock’s fifty day moving average price is $17.56 and its 200 day moving average price is $17.37. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.85 and a quick ratio of 0.84. The company has a market cap of $17.88 billion, a price-to-earnings ratio of -60.14, a price-to-earnings-growth ratio of 0.66 and a beta of 1.26.

KeyCorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors 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 annualized dividend and a yield of 4.54%. KeyCorp’s dividend payout ratio (DPR) is -273.32%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on KEY. Piper Sandler lifted 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. Keefe, Bruyette & Woods decreased their target price on KeyCorp from $22.00 to $21.00 and set an “outperform” rating for the company in a research report on Wednesday, January 22nd. Morgan Stanley decreased their target price on KeyCorp from $23.00 to $22.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 22nd. Citigroup downgraded 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. Finally, Wells Fargo & Company lifted their price target on KeyCorp from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Nine investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.69.

Insider Buying and Selling

In other news, Director Of Nova Scotia Bank purchased 50,000 shares of the company’s stock in a transaction on Wednesday, February 5th. The shares were acquired at an average price of $17.85 per share, for a total transaction of $892,500.00. Following the purchase, the director now 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 is accessible through this hyperlink. 0.67% of the stock is owned by company 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.