BlackRock Amends KEY Stake, Maintains Passive Position
Ticker: KEY-PL · Form: SC 13G/A · Filed: Jan 24, 2024 · CIK: 91576
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, passive-investing
Related Tickers: KEY
TL;DR
**BlackRock still owns a big chunk of KeyCorp, no major changes.**
AI Summary
BlackRock Inc. filed an amended SC 13G/A on January 24, 2024, indicating its ownership of KEYCORP /NEW/ (KEY) common stock as of December 31, 2023. This filing, Amendment No. 11, updates their previous disclosures, showing their continued significant, though passive, stake in the bank. This matters to investors because BlackRock is a major institutional investor, and their holdings can influence market perception and liquidity for KEY stock.
Why It Matters
This filing confirms BlackRock's ongoing substantial investment in KeyCorp, signaling their continued confidence in the company's long-term prospects, which can reassure other investors.
Risk Assessment
Risk Level: low — This is a routine amendment by a passive institutional investor and does not indicate any immediate risk or significant change in strategy.
Analyst Insight
Investors should note BlackRock's continued passive stake in KeyCorp, which suggests stability in institutional ownership, but this filing alone doesn't warrant immediate action.
Key Players & Entities
- BlackRock Inc. (company) — the reporting person and institutional investor
- KEYCORP /NEW/ (company) — the subject company whose securities are being reported
- December 31, 2023 (date) — the date of the event which required the filing
- January 24, 2024 (date) — the filing date of the SC 13G/A
- Amendment No. 11 (number) — the specific amendment number of this filing
FAQ
What type of filing is this document?
This document is an SC 13G/A, which is an amendment to a Schedule 13G, as stated in the 'FORM TYPE: SC 13G/A' and 'SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No: 11)' sections.
Who is the reporting person in this filing?
The reporting person is BlackRock Inc., as clearly identified under 'FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: BlackRock Inc.' and 'Names of reporting persons. BlackRock, Inc.'.
What is the subject company whose securities are being reported?
The subject company is KEYCORP /NEW/, as indicated under 'SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: KEYCORP /NEW/' and 'KEYCORP (Name of Issuer)'.
What is the CUSIP number for the securities reported?
The CUSIP number for the Common Stock of KEYCORP is 493267108, as stated under '(CUSIP Number) 493267108'.
What was the date of the event that triggered this filing?
The date of the event which required the filing of this statement was December 31, 2023, as specified under '(Date of Event Which Requires Filing of this Statement) December 31, 2023'.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 24, 2024 regarding KEYCORP /NEW/ (KEY-PL).