AMF Tjanstepension AB Purchases Shares of 382,817 KeyCorp (NYSE:KEY)

AMF Tjanstepension AB purchased a new stake in shares of KeyCorp (NYSE:KEY) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 382,817 shares of the financial services provider’s stock, valued at approximately $6,573,000.

A number of other large investors have also made changes to their positions in the company. Machina Capital S.A.S. purchased a new position in shares of KeyCorp during the 4th quarter valued at about $1,000,000. AMG National Trust Bank lifted its position in shares of KeyCorp by 101.4% during the 4th quarter. AMG National Trust Bank now owns 135,419 shares of the financial services provider’s stock valued at $2,317,000 after buying an additional 68,196 shares in the last quarter. Callan Family Office LLC purchased a new position in shares of KeyCorp during the 4th quarter valued at about $205,000. Candriam S.C.A. lifted its position in shares of KeyCorp by 23.9% during the 4th quarter. Candriam S.C.A. now owns 70,170 shares of the financial services provider’s stock valued at $1,203,000 after buying an additional 13,533 shares in the last quarter. Finally, Ethos Financial Group LLC purchased a new position in shares of KeyCorp during the 4th quarter valued at about $27,000. 79.69% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Wells Fargo & Company lifted their price objective on KeyCorp from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $18.50 price objective on shares of KeyCorp in a research report on Monday, February 3rd. Royal Bank of Canada reissued an “outperform” rating and issued a $18.00 price target on shares of KeyCorp in a report on Wednesday, January 22nd. Morgan Stanley lowered their price target on KeyCorp from $23.00 to $22.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 22nd. Finally, Stephens reissued an “overweight” rating and issued a $20.00 price target on shares of KeyCorp in a report on Wednesday, January 22nd. Nine equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $19.69.

KeyCorp Stock Down 1.2 %

Shares of KEY opened at $15.75 on Friday. The stock has a market capitalization of $17.40 billion, a price-to-earnings ratio of -52.48, a price-to-earnings-growth ratio of 0.65 and a beta of 1.26. KeyCorp has a 1 year low of $13.11 and a 1 year high of $20.04. The business’s 50 day simple moving average is $17.37 and its 200-day simple moving average is $17.48. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.85 and a quick ratio of 0.84.

KeyCorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders 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 dividend yield of 5.21%. The ex-dividend date is Tuesday, March 4th. KeyCorp’s dividend payout ratio is currently -273.33%.

Insider Activity

In related news, Director Of Nova Scotia Bank bought 50,000 shares of the business’s stock in a transaction dated Wednesday, February 5th. The shares were purchased at an average price of $17.85 per share, with a total value of $892,500.00. Following the transaction, 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 position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.61% of the company’s stock.

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.