OLD Second National Bank of Aurora grew its holdings in shares of KeyCorp (NYSE:KEY) by 40.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,506 shares of the financial services provider’s stock after buying an additional 1,006 shares during the quarter. OLD Second National Bank of Aurora’s holdings in KeyCorp were worth $71,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently made changes to their positions in KEY. A.R.T. Advisors LLC bought a new position in KeyCorp during the second quarter worth $538,000. Marshall Wace North America L.P. bought a new position in KeyCorp during the second quarter worth $793,000. Morgan Stanley lifted its stake in KeyCorp by 12.7% during the second quarter. Morgan Stanley now owns 3,583,805 shares of the financial services provider’s stock worth $63,613,000 after purchasing an additional 403,917 shares during the last quarter. Zurich Insurance Group Ltd FI lifted its stake in KeyCorp by 84.1% during the second quarter. Zurich Insurance Group Ltd FI now owns 77,700 shares of the financial services provider’s stock worth $1,379,000 after purchasing an additional 35,500 shares during the last quarter. Finally, CSat Investment Advisory L.P. lifted its stake in KeyCorp by 202.9% during the second quarter. CSat Investment Advisory L.P. now owns 3,087 shares of the financial services provider’s stock worth $55,000 after purchasing an additional 2,068 shares during the last quarter. Hedge funds and other institutional investors own 80.16% of the company’s stock.
In other news, Director Carlton L. Highsmith sold 9,515 shares of KeyCorp stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $18.07, for a total value of $171,936.05. Following the completion of the transaction, the director now directly owns 70,640 shares of the company’s stock, valued at approximately $1,276,464.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Trina M. Evans sold 25,436 shares of KeyCorp stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $18.32, for a total value of $465,987.52. Following the completion of the transaction, the director now directly owns 108,678 shares of the company’s stock, valued at $1,990,980.96. The disclosure for this sale can be found here. Insiders have sold a total of 232,965 shares of company stock worth $4,326,375 over the last ninety days. Company insiders own 0.08% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Tuesday, March 3rd will be issued a dividend of $0.185 per share. This represents a $0.74 annualized dividend and a yield of 3.79%. The ex-dividend date is Monday, March 2nd. KeyCorp’s payout ratio is presently 42.77%.
Several brokerages recently issued reports on KEY. Wedbush upgraded KeyCorp from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $21.00 to $23.00 in a research note on Friday, December 20th. Wells Fargo & Co cut KeyCorp from an “equal weight” rating to an “underweight” rating and set a $20.00 price objective on the stock. in a research note on Monday, January 6th. Evercore ISI began coverage on KeyCorp in a research report on Wednesday, November 20th. They issued a “buy” rating and a $21.00 target price on the stock. DA Davidson reaffirmed a “buy” rating on shares of KeyCorp in a research report on Monday, November 18th. Finally, Deutsche Bank lowered KeyCorp from a “buy” rating to a “hold” rating and set a $19.00 target price on the stock. in a research report on Friday, October 25th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $24.18.
KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking services in the United States. The company's Key Community Bank segment offers various deposit and investment products, personal finance services, residential mortgages, home equity loans, credit cards, and installment loans.
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