Rhumbline Advisers Has $34.25 Million Stock Holdings in KeyCorp (NYSE:KEY)

Rhumbline Advisers grew its stake in shares of KeyCorp (NYSE:KEY) by 1.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,998,312 shares of the financial services provider’s stock after purchasing an additional 18,927 shares during the quarter. Rhumbline Advisers owned about 0.20% of KeyCorp worth $34,251,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Avanza Fonder AB acquired a new position in KeyCorp during the fourth quarter worth $1,618,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of KeyCorp by 14.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 657,913 shares of the financial services provider’s stock worth $10,928,000 after purchasing an additional 85,052 shares during the last quarter. Dai ichi Life Insurance Company Ltd bought a new stake in shares of KeyCorp in the 3rd quarter valued at about $798,000. State of New Jersey Common Pension Fund D lifted its stake in 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 purchasing an additional 36,444 shares during the last quarter. Finally, Prospector Partners LLC bought a new position in KeyCorp during the third quarter worth about $9,630,000. Institutional investors own 79.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. UBS Group upped their price objective on KeyCorp from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. The Goldman Sachs Group increased their price target on KeyCorp from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. DA Davidson reduced their price objective on shares of KeyCorp from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $18.50 price objective on shares of KeyCorp in a research report on Monday, February 3rd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $18.00 target price on shares of KeyCorp in a report on Wednesday, January 22nd. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, KeyCorp presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.69.

KeyCorp Price Performance

KEY stock opened at $17.95 on Wednesday. The company’s 50-day moving average price is $17.57 and its two-hundred day moving average price is $17.34. The firm has a market cap of $17.79 billion, a P/E ratio of -59.81, a P/E/G ratio of 0.66 and a beta of 1.26. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.77. KeyCorp has a 12 month low of $13.10 and a 12 month high of $20.04.

KeyCorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th will be given a dividend of $0.205 per share. The ex-dividend date is Tuesday, March 4th. This represents a $0.82 annualized dividend and a yield of 4.57%. KeyCorp’s dividend payout ratio is currently -273.32%.

Insiders Place Their Bets

In related news, Director Of Nova Scotia Bank bought 50,000 shares of the company’s stock in a transaction dated Wednesday, February 5th. The stock was purchased at an average price of $17.85 per share, with a total value 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 $2,909,259,509.10. The trade was a 0.03 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.61% 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.