KeyCorp (NYSE:KEY) Stake Boosted by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of KeyCorp (NYSE:KEY) by 0.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 175,512 shares of the financial services provider’s stock after acquiring an additional 695 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in KeyCorp were worth $3,008,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Avanza Fonder AB purchased a new stake in shares of KeyCorp during the 4th quarter worth about $1,618,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in KeyCorp by 14.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 657,913 shares of the financial services provider’s stock worth $10,928,000 after buying an additional 85,052 shares during the last quarter. Dai ichi Life Insurance Company Ltd bought a new position in KeyCorp during the third quarter valued at approximately $798,000. Prospector Partners LLC acquired a new stake in KeyCorp in the third quarter valued at approximately $9,630,000. Finally, Natixis Advisors LLC grew its position in KeyCorp by 17.9% in the third quarter. Natixis Advisors LLC now owns 689,469 shares of the financial services provider’s stock worth $11,549,000 after acquiring an additional 104,689 shares in the last quarter. Institutional investors and hedge funds own 79.69% of the company’s stock.

Insider Transactions at KeyCorp

In other KeyCorp news, Director Of Nova Scotia Bank acquired 50,000 shares of KeyCorp stock in a transaction dated Wednesday, February 5th. The stock was bought 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 of the company’s stock, valued at approximately $2,909,259,509.10. The trade was a 0.03 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.61% of the stock is owned by insiders.

KeyCorp Stock Down 0.6 %

NYSE KEY opened at $17.84 on Monday. KeyCorp has a twelve month low of $13.10 and a twelve month high of $20.04. The stock has a market cap of $17.68 billion, a PE ratio of -59.46, a PEG ratio of 0.66 and a beta of 1.26. The firm has a 50-day simple moving average of $17.71 and a 200 day simple moving average of $17.27. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.84 and a current ratio of 0.85.

KeyCorp Announces Dividend

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 dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 4.60%. The ex-dividend date of this dividend is Tuesday, March 4th. KeyCorp’s payout ratio is presently -273.32%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on KEY. Citigroup lowered shares of KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 price objective for the company. in a research note on Thursday, November 7th. UBS Group boosted their price target on KeyCorp from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Piper Sandler increased their price objective on KeyCorp from $19.00 to $22.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Robert W. Baird lowered KeyCorp from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $18.00 to $17.00 in a report on Monday, October 14th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $18.00 target price on shares of KeyCorp in a research report on Wednesday, January 22nd. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $19.69.

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.