Allspring Global Investments Holdings LLC Has $1.28 Million Stock Position in KeyCorp (NYSE:KEY)

Allspring Global Investments Holdings LLC increased its position in KeyCorp (NYSE:KEY) by 52.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 75,499 shares of the financial services provider’s stock after purchasing an additional 25,976 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in KeyCorp were worth $1,282,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its position in KeyCorp by 3.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 31,606,503 shares of the financial services provider’s stock worth $529,409,000 after purchasing an additional 993,942 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of KeyCorp by 3.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,114,598 shares of the financial services provider’s stock worth $119,170,000 after buying an additional 222,187 shares during the period. Thrivent Financial for Lutherans grew its position in shares of KeyCorp by 108.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 5,852,233 shares of the financial services provider’s stock worth $98,025,000 after buying an additional 3,042,060 shares during the period. Azora Capital LP acquired a new position in shares of KeyCorp during the 3rd quarter worth about $92,413,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in shares of KeyCorp by 164.9% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,660,680 shares of the financial services provider’s stock worth $78,066,000 after buying an additional 2,900,971 shares during the period. 79.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at KeyCorp

In related news, Director Of Nova Scotia Bank acquired 50,000 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were bought at an average price of $17.85 per share, for a total transaction of $892,500.00. Following the purchase, the director now directly owns 162,983,726 shares in the company, valued at approximately $2,909,259,509.10. This trade represents a 0.03 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on KEY shares. Citigroup lowered KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 target price for the company. in a research report on Thursday, November 7th. Royal Bank of Canada restated an “outperform” rating and set a $18.00 target price on shares of KeyCorp in a research report on Wednesday, January 22nd. The Goldman Sachs Group boosted their target price on KeyCorp from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Barclays boosted their target price on KeyCorp from $19.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. Finally, Morgan Stanley decreased their price objective on KeyCorp from $23.00 to $22.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 22nd. Nine analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, KeyCorp currently has an average rating of “Moderate Buy” and a consensus target price of $19.69.

KeyCorp Trading Down 3.6 %

NYSE KEY opened at $16.94 on Friday. The stock has a market capitalization of $16.80 billion, a price-to-earnings ratio of -56.47, a PEG ratio of 0.65 and a beta of 1.26. The stock’s 50 day moving average price is $17.52 and its two-hundred day moving average price is $17.39. 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 has a 52 week low of $13.10 and a 52 week high of $20.04.

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 paid a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 4.84%. The ex-dividend date of this dividend is Tuesday, March 4th. KeyCorp’s payout ratio is -273.32%.

KeyCorp 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.