KeyCorp (NYSE:KEY) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. increased its stake in KeyCorp (NYSE:KEY) by 3.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,117,238 shares of the financial services provider’s stock after acquiring an additional 36,424 shares during the quarter. Principal Financial Group Inc. owned approximately 0.11% of KeyCorp worth $19,149,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of KEY. Avanza Fonder AB purchased a new position in KeyCorp in the 4th quarter worth about $1,618,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of KeyCorp by 14.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 657,913 shares of the financial services provider’s stock worth $10,928,000 after acquiring an additional 85,052 shares in the last quarter. Dai ichi Life Insurance Company Ltd acquired a new stake in shares of KeyCorp during the third quarter valued at approximately $798,000. State of New Jersey Common Pension Fund D lifted its position in shares of KeyCorp by 13.6% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 304,565 shares of the financial services provider’s stock valued at $5,101,000 after acquiring an additional 36,444 shares in the last quarter. Finally, Prospector Partners LLC acquired a new position in KeyCorp in the 3rd quarter worth approximately $9,630,000. 79.69% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at KeyCorp

In other KeyCorp news, Director Of Nova Scotia Bank purchased 50,000 shares of the stock in a transaction dated Wednesday, February 5th. The shares were bought at an average cost of $17.85 per share, with a total value of $892,500.00. Following the completion of the transaction, the director now owns 162,983,726 shares in the company, valued at $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 is accessible through this hyperlink. 0.61% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

KEY has been the topic of several recent analyst reports. Morgan Stanley cut their target price on shares of KeyCorp from $23.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 22nd. Citigroup lowered KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 price target on the stock. in a research report on Thursday, November 7th. Keefe, Bruyette & Woods decreased their price objective on KeyCorp from $22.00 to $21.00 and set an “outperform” rating for the company in a research report on Wednesday, January 22nd. Wells Fargo & Company upped their target price on KeyCorp from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Finally, Piper Sandler raised their price target on shares of KeyCorp from $19.00 to $22.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $19.69.

KeyCorp Stock Performance

Shares of NYSE KEY opened at $16.79 on Tuesday. The business’s 50-day simple moving average is $17.49 and its 200-day simple moving average is $17.45. 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. The firm has a market cap of $16.64 billion, a price-to-earnings ratio of -55.95, a P/E/G ratio of 0.65 and a beta of 1.26.

KeyCorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th will be given a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.89%. The ex-dividend date of this dividend is Tuesday, March 4th. KeyCorp’s dividend payout ratio is -273.32%.

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.