Louisiana State Employees Retirement System Acquires 1,000 Shares of KeyCorp (NYSE:KEY)

Louisiana State Employees Retirement System raised its position in shares of KeyCorp (NYSE:KEY) by 1.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 53,300 shares of the financial services provider’s stock after acquiring an additional 1,000 shares during the period. Louisiana State Employees Retirement System’s holdings in KeyCorp were worth $914,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Essex Financial Services Inc. boosted its stake in KeyCorp by 32.0% in the fourth quarter. Essex Financial Services Inc. now owns 30,546 shares of the financial services provider’s stock valued at $524,000 after acquiring an additional 7,409 shares during the last quarter. Sapient Capital LLC grew its stake in KeyCorp by 3,321.9% in the 4th quarter. Sapient Capital LLC now owns 1,172,049 shares of the financial services provider’s stock valued at $20,089,000 after buying an additional 1,137,798 shares during the last quarter. Savant Capital LLC grew its stake in KeyCorp by 27.4% in the 4th quarter. Savant Capital LLC now owns 17,688 shares of the financial services provider’s stock valued at $303,000 after buying an additional 3,805 shares during the last quarter. Stoneridge Investment Partners LLC acquired a new position in shares of KeyCorp during the 4th quarter worth approximately $785,000. Finally, Apollon Wealth Management LLC boosted its position in shares of KeyCorp by 9.3% during the 4th quarter. Apollon Wealth Management LLC now owns 26,948 shares of the financial services provider’s stock worth $462,000 after acquiring an additional 2,303 shares in the last quarter. 79.69% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Of Nova Scotia Bank acquired 50,000 shares of the business’s stock in a transaction on Wednesday, February 5th. The stock was acquired at an average cost of $17.85 per share, with a total value of $892,500.00. Following the acquisition, the director now directly owns 162,983,726 shares in the company, valued at $2,909,259,509.10. This represents a 0.03 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.61% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

KEY has been the subject of several analyst reports. Stephens reaffirmed an “overweight” rating and set a $20.00 price target on shares of KeyCorp in a research note on Wednesday, January 22nd. Morgan Stanley dropped their price target on shares of KeyCorp from $23.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 22nd. The Goldman Sachs Group lifted their price objective on shares of KeyCorp from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Truist Financial began coverage on shares of KeyCorp in a research note on Tuesday, January 7th. They set a “hold” rating and a $19.00 price objective for the company. Finally, Wells Fargo & Company boosted their price target on shares of KeyCorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $19.69.

KeyCorp Stock Performance

Shares of NYSE KEY opened at $17.73 on Tuesday. The firm’s 50-day moving average price is $17.59 and its 200-day moving average price is $17.33. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.77. The company has a market cap of $17.57 billion, a PE ratio of -59.08, 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.

KeyCorp Dividend Announcement

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 paid a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 4.63%. The ex-dividend date is Tuesday, March 4th. KeyCorp’s payout ratio is -273.32%.

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.