ABC Arbitrage SA Buys Shares of 148,541 KeyCorp (NYSE:KEY)
ABC Arbitrage SA bought a new stake in KeyCorp (NYSE:KEY - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 148,541 shares of the financial services provider's stock, valued at approximately $2,546,000.
A number of other institutional investors also recently made changes to their positions in the business. Avanza Fonder AB bought a new stake in shares of KeyCorp in the 4th quarter valued at approximately $1,618,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of KeyCorp by 14.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 657,913 shares of the financial services provider's stock valued at $10,928,000 after acquiring an additional 85,052 shares during the last quarter. Dai ichi Life Insurance Company Ltd bought a new stake in shares of KeyCorp in the 3rd quarter valued at approximately $798,000. State of New Jersey Common Pension Fund D increased its holdings in shares of KeyCorp by 13.6% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 304,565 shares of the financial services provider's stock valued at $5,101,000 after acquiring an additional 36,444 shares during the last quarter. Finally, Prospector Partners LLC bought a new stake in shares of KeyCorp in the 3rd quarter valued at approximately $9,630,000. 79.69% of the stock is owned by institutional investors and hedge funds.
NYSE:KEY opened at $17.73 on Friday. KeyCorp has a 1 year low of $13.10 and a 1 year high of $20.04. The business has a fifty day moving average of $17.61 and a 200-day moving average of $17.30. 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 also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th will be issued 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 4.63%. KeyCorp's dividend payout ratio (DPR) is -273.32%.
A number of brokerages have recently weighed in on KEY. UBS Group boosted their price target on KeyCorp from $17.00 to $18.00 and gave the company a "neutral" rating in a report on Wednesday, October 23rd. Wells Fargo & Company boosted 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. 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. DA Davidson lowered their price objective on KeyCorp from $22.00 to $21.00 and set a "buy" rating for the company in a research note on Wednesday, January 22nd. Finally, Keefe, Bruyette & Woods lowered their price objective on KeyCorp from $22.00 to $21.00 and set an "outperform" rating for the company in a research note on Wednesday, January 22nd. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $19.69.
In other news, Director Of Nova Scotia Bank acquired 50,000 shares of the business's stock in a transaction dated Wednesday, February 5th. The stock was acquired at an average price of $17.85 per share, for a total transaction 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. This represents a 0.03 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.61% of the company's stock.
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.
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