Fjarde AP Fonden Fourth Swedish National Pension Fund Sells 34,600 Shares of KeyCorp (NYSE:KEY)

Fjarde AP Fonden Fourth Swedish National Pension Fund lowered its position in shares of KeyCorp (NYSE:KEY) by 18.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 148,713 shares of the financial services provider’s stock after selling 34,600 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in KeyCorp were worth $2,549,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Financial Advocates Investment Management grew its holdings in KeyCorp by 2.3% during the third quarter. Financial Advocates Investment Management now owns 26,872 shares of the financial services provider’s stock valued at $450,000 after purchasing an additional 602 shares during the period. HM Payson & Co. grew its holdings in KeyCorp by 27.0% during the third quarter. HM Payson & Co. now owns 3,060 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 650 shares during the period. Graypoint LLC grew its holdings in KeyCorp by 4.7% during the third quarter. Graypoint LLC now owns 14,954 shares of the financial services provider’s stock valued at $250,000 after purchasing an additional 675 shares during the period. Ballentine Partners LLC grew its holdings in KeyCorp by 5.7% during the fourth quarter. Ballentine Partners LLC now owns 12,855 shares of the financial services provider’s stock valued at $220,000 after purchasing an additional 692 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in KeyCorp by 0.4% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 175,512 shares of the financial services provider’s stock valued at $3,008,000 after purchasing an additional 695 shares during the period. Institutional investors and hedge funds own 79.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on KEY shares. Wells Fargo & Company boosted 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. Morgan Stanley reduced their price target on shares of KeyCorp from $23.00 to $22.00 and set an “equal weight” rating for the company in a report on Wednesday, January 22nd. Stephens reiterated an “overweight” rating and issued a $20.00 price target on shares of KeyCorp in a report on Wednesday, January 22nd. Barclays upped their price target on shares of KeyCorp from $19.00 to $21.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $18.50 price target on shares of KeyCorp in a report on Monday, February 3rd. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, KeyCorp currently has an average rating of “Moderate Buy” and an average target price of $19.69.

Insiders Place Their Bets

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 purchased at an average cost of $17.85 per share, with a total value of $892,500.00. Following the completion of the transaction, the director now owns 162,983,726 shares of the company’s stock, valued at $2,909,259,509.10. The trade was a 0.03 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.67% of the company’s stock.

KeyCorp Stock Performance

NYSE KEY opened at $16.85 on Thursday. 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 firm’s fifty day moving average price is $17.47 and its two-hundred day moving average price is $17.47. KeyCorp has a 1 year low of $13.10 and a 1 year high of $20.04. The firm has a market capitalization of $16.70 billion, a P/E ratio of -56.16, a price-to-earnings-growth ratio of 0.65 and a beta of 1.26.

KeyCorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th will be given a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 4.87%. The ex-dividend date is Tuesday, March 4th. KeyCorp’s dividend payout ratio (DPR) is currently -273.33%.

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.