State of Alaska Department of Revenue Has $1.94 Million Stake in KeyCorp (NYSE:KEY)

State of Alaska Department of Revenue lowered its position in KeyCorp (NYSE:KEY) by 11.3% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 113,010 shares of the financial services provider’s stock after selling 14,415 shares during the period. State of Alaska Department of Revenue’s holdings in KeyCorp were worth $1,936,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in KEY. Wolff Wiese Magana LLC raised its holdings in shares of KeyCorp by 285.5% during the 3rd quarter. Wolff Wiese Magana LLC now owns 1,542 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 1,142 shares in the last quarter. American Capital Advisory LLC acquired a new position in KeyCorp during the third quarter worth $28,000. Larson Financial Group LLC raised its holdings in KeyCorp by 90.8% during the third 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 in the last quarter. Catalyst Capital Advisors LLC acquired a new stake in shares of KeyCorp in the third quarter worth about $35,000. Finally, Capital Performance Advisors LLP bought a new stake in shares of KeyCorp during the 3rd quarter worth about $38,000. Institutional investors own 79.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on KEY. The Goldman Sachs Group raised their price objective on KeyCorp from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Truist Financial initiated coverage on shares of KeyCorp in a research note on Tuesday, January 7th. They issued a “hold” rating and a $19.00 price objective for the company. Piper Sandler raised their target price on shares of KeyCorp from $19.00 to $22.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Barclays upped their price target on shares of KeyCorp from $19.00 to $21.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Finally, Keefe, Bruyette & Woods dropped their price objective on KeyCorp from $22.00 to $21.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 22nd. Nine equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.69.

KeyCorp Price Performance

NYSE:KEY opened at $17.56 on Wednesday. The company has a 50-day moving average of $17.68 and a 200-day moving average of $17.29. The company has a market capitalization of $17.40 billion, a price-to-earnings ratio of -58.51, a PEG ratio of 0.66 and a beta of 1.26. KeyCorp has a 52 week low of $13.10 and a 52 week high of $20.04. 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Tuesday, March 4th will be given a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 4.67%. The ex-dividend date of this dividend is Tuesday, March 4th. KeyCorp’s dividend payout ratio (DPR) is presently -273.33%.

Insiders Place Their Bets

In related news, Director Of Nova Scotia Bank acquired 50,000 shares of the company’s stock in a transaction on Wednesday, February 5th. The stock was purchased at an average cost of $17.85 per share, for a total transaction of $892,500.00. Following the completion of the purchase, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.67% of the company’s stock.

KeyCorp Company Profile

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.