Swedbank AB Boosts Position in KeyCorp (NYSE:KEY)
Swedbank AB grew its stake in shares of KeyCorp (NYSE:KEY - Free Report) by 11.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 475,761 shares of the financial services provider's stock after purchasing an additional 48,695 shares during the quarter. Swedbank AB's holdings in KeyCorp were worth $8,155,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also modified their holdings of the company. Creative Planning lifted its position in KeyCorp by 1.4% in the second quarter. Creative Planning now owns 138,293 shares of the financial services provider's stock valued at $1,965,000 after acquiring an additional 1,969 shares during the last quarter. NewEdge Advisors LLC lifted its holdings in shares of KeyCorp by 58.3% in the 2nd quarter. NewEdge Advisors LLC now owns 71,388 shares of the financial services provider's stock valued at $1,014,000 after purchasing an additional 26,285 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of KeyCorp in the 2nd quarter valued at about $845,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in KeyCorp during the 2nd quarter worth approximately $3,923,000. Finally, Czech National Bank increased its position in KeyCorp by 5.2% during the third quarter. Czech National Bank now owns 189,067 shares of the financial services provider's stock worth $3,167,000 after buying an additional 9,397 shares during the period. Hedge funds and other institutional investors own 79.69% of the company's stock.
In other KeyCorp news, insider Angela G. Mago sold 15,011 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $19.59, for a total transaction of $294,065.49. Following the sale, the insider now owns 234,582 shares in the company, valued at approximately $4,595,461.38. This represents a 6.01 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Carlton L. Highsmith sold 9,000 shares of the business's stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $17.14, for a total value of $154,260.00. Following the completion of the transaction, the director now directly owns 37,864 shares of the company's stock, valued at approximately $648,988.96. This trade represents a 19.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by insiders.
A number of equities analysts have recently issued reports on KEY shares. Piper Sandler raised their target price on shares of KeyCorp from $19.00 to $22.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 3rd. DA Davidson dropped their price objective on shares of KeyCorp from $22.00 to $21.00 and set a "buy" rating on the stock in a research note on Wednesday, January 22nd. Wells Fargo & Company increased their target price on shares of KeyCorp from $20.00 to $22.00 and gave the stock an "overweight" rating in a research note on Friday, November 15th. UBS Group boosted their price target on KeyCorp from $17.00 to $18.00 and gave the company a "neutral" rating in a research report on Wednesday, October 23rd. Finally, Citigroup lowered KeyCorp from a "buy" rating to a "neutral" rating and set a $19.00 target price on the stock. in a report on Thursday, November 7th. Nine equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $19.58.
Get Our Latest Report on KeyCorp
Shares of KEY opened at $18.01 on Friday. KeyCorp has a twelve month low of $13.10 and a twelve month 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 firm has a market capitalization of $17.85 billion, a P/E ratio of -60.01, a PEG ratio of 0.64 and a beta of 1.27. The firm's 50-day moving average is $17.89 and its two-hundred day moving average is $17.19.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Tuesday, March 4th will be paid a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 4.55%. The ex-dividend date is Tuesday, March 4th. KeyCorp's payout ratio is currently -273.32%.
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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