KeyCorp (KEY) Position Reduced by Public Employees Retirement System of Ohio
Public Employees Retirement System of Ohio lowered its position in KeyCorp (NYSE:KEY) by 39.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 581,875 shares of the financial services provider’s stock after selling 372,187 shares during the period. Public Employees Retirement System of Ohio owned about 0.05% of KeyCorp worth $10,951,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently made changes to their positions in KEY. Boston Partners acquired a new stake in KeyCorp in the third quarter valued at about $356,111,000. Janus Henderson Group PLC lifted its position in KeyCorp by 6,189.4% in the second quarter. Janus Henderson Group PLC now owns 9,107,724 shares of the financial services provider’s stock valued at $170,679,000 after purchasing an additional 8,962,913 shares during the period. Vanguard Group Inc. lifted its position in KeyCorp by 3.9% in the second quarter. Vanguard Group Inc. now owns 111,418,810 shares of the financial services provider’s stock valued at $2,087,987,000 after purchasing an additional 4,230,390 shares during the period. Samlyn Capital LLC acquired a new stake in KeyCorp in the second quarter valued at about $57,111,000. Finally, Victory Capital Management Inc. lifted its position in KeyCorp by 561.7% in the second quarter. Victory Capital Management Inc. now owns 2,954,024 shares of the financial services provider’s stock valued at $55,358,000 after purchasing an additional 2,507,628 shares during the period. Hedge funds and other institutional investors own 80.91% of the company’s stock.
KeyCorp (NYSE KEY) opened at $20.12 on Wednesday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.89 and a current ratio of 0.90. KeyCorp has a 12-month low of $16.28 and a 12-month high of $20.30. The stock has a market capitalization of $21,680.06, a P/E ratio of 15.27, a P/E/G ratio of 1.83 and a beta of 1.10.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Tuesday, November 28th were given a dividend of $0.105 per share. This is an increase from KeyCorp’s previous quarterly dividend of $0.10. This represents a $0.42 annualized dividend and a dividend yield of 2.09%. The ex-dividend date of this dividend was Monday, November 27th. KeyCorp’s payout ratio is currently 36.84%.
In related news, insider Andrew J. Paine III sold 46,854 shares of KeyCorp stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $18.56, for a total transaction of $869,610.24. Following the completion of the transaction, the insider now directly owns 110,052 shares in the company, valued at approximately $2,042,565.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Carlton L. Highsmith sold 7,600 shares of KeyCorp stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $18.39, for a total value of $139,764.00. Following the transaction, the director now owns 68,725 shares of the company’s stock, valued at $1,263,852.75. The disclosure for this sale can be found here. Insiders have sold a total of 57,212 shares of company stock valued at $1,060,508 over the last 90 days. Insiders own 0.65% of the company’s stock.
A number of equities research analysts recently commented on KEY shares. Sanford C. Bernstein restated an “outperform” rating and issued a $22.00 price objective on shares of KeyCorp in a research report on Wednesday, September 27th. Morgan Stanley restated an “overweight” rating and issued a $23.00 price objective on shares of KeyCorp in a research report on Thursday, December 14th. ValuEngine upgraded shares of KeyCorp from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Oppenheimer reiterated a “hold” rating on shares of KeyCorp in a research report on Friday, October 20th. Finally, Zacks Investment Research downgraded shares of KeyCorp from a “hold” rating to a “sell” rating in a research report on Monday, October 30th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $21.28.
KeyCorp Company Profile
KeyCorp is a bank holding company. The Company is a bank-based financial services company. The Company operates through its subsidiary, KeyBank National Association (KeyBank), which is engaged in providing banking services. Through KeyBank and other subsidiaries, it provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, and investment banking products and services to individual, corporate and institutional clients.
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