Sumitomo Mitsui Trust Group Inc. Sells 41,447 Shares of KeyCorp (NYSE:KEY)

Sumitomo Mitsui Trust Group Inc. lessened its stake in shares of KeyCorp (NYSE:KEY) by 2.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,059,620 shares of the financial services provider’s stock after selling 41,447 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.21% of KeyCorp worth $35,302,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of KEY. Azora Capital LP bought a new stake in shares of KeyCorp during the third quarter worth $92,413,000. Assenagon Asset Management S.A. grew its stake in shares of KeyCorp by 280.3% during the third quarter. Assenagon Asset Management S.A. now owns 4,976,965 shares of the financial services provider’s stock worth $83,364,000 after buying an additional 3,668,168 shares during the last quarter. Thrivent Financial for Lutherans grew its stake in shares of KeyCorp by 108.3% during the third 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 last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in shares of KeyCorp by 164.9% during the third 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 last quarter. Finally, Victory Capital Management Inc. grew its stake in shares of KeyCorp by 279.6% during the third quarter. Victory Capital Management Inc. now owns 3,788,173 shares of the financial services provider’s stock worth $63,452,000 after buying an additional 2,790,192 shares during the last quarter. Institutional investors own 79.69% of the company’s stock.

KeyCorp Price Performance

Shares of NYSE KEY opened at $17.56 on Wednesday. The firm’s 50-day moving average price is $17.68 and its 200-day moving average price is $17.29. KeyCorp has a 1-year low of $13.10 and a 1-year high of $20.04. The firm has a market capitalization of $17.40 billion, a P/E ratio of -58.51, a P/E/G ratio of 0.66 and a beta of 1.26. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.77.

KeyCorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders 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 annualized dividend and a dividend yield of 4.67%. KeyCorp’s dividend payout ratio is currently -273.33%.

Wall Street Analyst Weigh In

KEY has been the topic of a number of research reports. Stephens reaffirmed an “overweight” rating and set a $20.00 target price on shares of KeyCorp in a research note on Wednesday, January 22nd. The Goldman Sachs Group boosted their price objective on shares of KeyCorp from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Barclays boosted their price objective on shares of KeyCorp from $19.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $18.50 price objective on shares of KeyCorp in a research note on Monday, February 3rd. Finally, DA Davidson reduced their price objective on shares of KeyCorp from $22.00 to $21.00 and set a “buy” 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 issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $19.69.

Insider Activity

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 purchased at an average price of $17.85 per share, for a total transaction of $892,500.00. Following the completion of the acquisition, the director now owns 162,983,726 shares of the company’s stock, valued at approximately $2,909,259,509.10. This trade represents a 0.03 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.67% of the company’s stock.

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.