Kentucky Retirement Systems Insurance Trust Fund Boosts Stock Position in KeyCorp (NYSE:KEY)

Kentucky Retirement Systems Insurance Trust Fund raised its position in shares of KeyCorp (NYSE:KEY) by 15.6% during the 4th quarter, Holdings Channel reports. The firm owned 31,754 shares of the financial services provider’s stock after buying an additional 4,275 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in KeyCorp were worth $544,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the company. American Capital Advisory LLC acquired a new position in shares of KeyCorp in the 3rd quarter valued at about $28,000. Larson Financial Group LLC lifted its holdings in shares of KeyCorp by 90.8% in the 3rd quarter. Larson Financial Group LLC now owns 1,929 shares of the financial services provider’s stock valued at $32,000 after buying an additional 918 shares during the period. Catalyst Capital Advisors LLC acquired a new position in shares of KeyCorp in the 3rd quarter valued at about $35,000. Capital Performance Advisors LLP acquired a new position in shares of KeyCorp in the 3rd quarter valued at about $38,000. Finally, Venturi Wealth Management LLC lifted its holdings in shares of KeyCorp by 62.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,526 shares of the financial services provider’s stock valued at $42,000 after buying an additional 975 shares during the period. Hedge funds and other institutional investors own 79.69% of the company’s stock.

KeyCorp Price Performance

Shares of KeyCorp stock opened at $18.04 on Thursday. The business has a 50 day simple moving average of $17.56 and a two-hundred day simple moving average of $17.37. KeyCorp has a 12 month low of $13.10 and a 12 month high of $20.04. The stock has a market capitalization of $17.88 billion, a P/E ratio of -60.14, a PEG ratio of 0.66 and a beta of 1.26. 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 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th will be issued a dividend of $0.205 per share. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.54%. KeyCorp’s payout ratio is currently -273.32%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on KEY shares. Wells Fargo & Company boosted their price objective on KeyCorp from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Citigroup cut KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 price objective for the company. in a report on Thursday, November 7th. UBS Group boosted their price objective on KeyCorp from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Royal Bank of Canada reissued an “outperform” rating and issued a $18.00 price objective on shares of KeyCorp in a report on Wednesday, January 22nd. Finally, Barclays upped their price target on KeyCorp from $19.00 to $21.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. Nine equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, KeyCorp has an average rating of “Moderate Buy” and a consensus price target of $19.69.

Insider Buying and Selling at KeyCorp

In other news, Director Of Nova Scotia Bank bought 50,000 shares of KeyCorp stock in a transaction on Wednesday, February 5th. The stock was acquired at an average price of $17.85 per share, with a total value of $892,500.00. Following the completion of the acquisition, the director now directly owns 162,983,726 shares of the company’s stock, valued at $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 this link. Insiders own 0.67% 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.