Capital International Investors Divests All Voting Power in KeyCorp

TL;DR

**Capital International Investors dumped all their KeyCorp voting shares.**

AI Summary

Capital International Investors, a Delaware-based investment firm, filed an amended SC 13G/A on February 9, 2024, indicating a change in their beneficial ownership of KeyCorp /NEW/ (KEY) common stock. As of December 29, 2023, they reported holding 0 shares with sole or shared voting power, a significant decrease from previous filings. This matters to investors because it shows a major institutional investor has completely divested its voting power in KeyCorp, potentially signaling a loss of confidence or a strategic portfolio reallocation.

Why It Matters

This filing reveals a major institutional investor, Capital International Investors, no longer holds any voting power in KeyCorp, which could influence other investors' perceptions of the stock.

Risk Assessment

Risk Level: medium — The complete divestment of voting power by a large institutional investor could signal underlying concerns about KeyCorp's future performance or valuation.

Analyst Insight

A smart investor would investigate the reasons behind Capital International Investors' complete divestment and consider if these factors could negatively impact KeyCorp's future performance before making any investment decisions.

Key Numbers

• 0 — Sole Voting Power Shares (Capital International Investors reported holding 0 shares with sole voting power in KeyCorp as of December 29, 2023.)
• 0 — Shared Voting Power Shares (Capital International Investors reported holding 0 shares with shared voting power in KeyCorp as of December 29, 2023.)
• 493267108 — CUSIP Number (This identifies KeyCorp's Common Stock, the class of securities being reported.)
• 95-1411037 — IRS Identification No. (This is the IRS identification number for Capital International Investors.)

Key Players & Entities

• Capital International Investors (company) — the reporting person who filed the SC 13G/A
• KeyCorp /NEW/ (company) — the issuer whose common stock is being reported on
• Delaware (company) — place of organization for Capital International Investors
• December 29, 2023 (date) — date of event which requires filing of this statement
• 0 (dollar_amount) — number of shares with sole voting power

Forward-Looking Statements

• KeyCorp's stock price may experience downward pressure due to the perceived lack of institutional confidence. (KeyCorp) — medium confidence, target: Q1 2024

FAQ

Filing Documents

• SEC13G_Filing.htm (SC 13G/A) — 16KB
• 0001422848-24-000164.txt ( ) — 18KB

From the Filing

SC 13G/A 1 SEC13G_Filing.htm SEC SCHEDULE 13G UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. 3 ) * KeyCorp (Name of Issuer) Common Stock (Title of Class of Securities) 493267108 (CUSIP Number) December 29, 2023 (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [X] Rule 13d-1(b) [ ] Rule 13d-1(c) [ ] Rule 13d-1(d) * The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 (the "Act") or otherwise subject to the liabilities of that section of the Act, but shall be subject to all other provisions of the Act (however, see the Notes.) CUSIP No. 493267108 1. NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) Capital International Investors 95-1411037 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [ ] 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5. SOLE VOTING POWER 0 6. SHARED VOTING POWER 0 7. SOLE DISPOSITIVE POWER 0 8. SHARED DISPOSITIVE POWER 0 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 0 Beneficial ownership disclaimed pursuant to Rule 13d-4 10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 0.0% 12. TYPE OF REPORTING PERSON IA Item 1. (a) Name of Issuer KeyCorp (b) Address of Issuer's Principal Executive Offices 127 Public Square, Cleveland, OH 44114-1306 Item 2. (a) Name of Person Filing Capital International Investors (b) Address of Principal Business Office or, if None, Residence 333 South Hope Street, 55th Fl, Los Angeles, CA 90071 (c) Citizenship N/A (d) Title of Class of Securities Common Stock (e) CUSIP Number 493267108 Item 3. If This Statement is Filed Pursuant to Rule 13d-1(b), or 13d-2(b) or (c), Check Whether the Person Filing is a: (a) [ ] Broker or dealer registered under Section 15 of the Act (15 U.S.C. 78o). (b) [ ] Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c). (c) [ ] Insurance Company as defined in Section 3(a)(19) of the Act (15 U.S.C. 78c). (d) [ ] Investment Company registered under Section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8). (e) [X] An investment adviser in accordance with Rule 240.13d-1(b)(1)(ii)(E); (f) [ ] An employee benefit plan or endowment fund in accordance with Rule 240.13d-1(b)(1)(ii)(F); (g) [ ] A parent holding company or control person in accordance with Rule 240.13d-1(b)(1)(ii)(G); (h) [ ] A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) [ ] A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); (j) [ ] Group, in accordance with Rule 240.13d-1(b)(1)(ii)(J). Item 4. Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1. (a) Amount Beneficially Owned: 0 ** (b) Percent of Class: 0.0% (c) Number of shares as to which such person has: (i) sole power to vote or to direct the vote 0 (ii) shared power to vote or to direct the vote 0 (iii) sole power to dispose or to direct the disposition of 0 (iv) shared power to dispose or to direct the disposition of 0 **Capital International Investors ("CII") is a division of Capital Research and Management Company ("CRMC"), as well as its investment management subsidiaries and affiliates Capital Bank and Trust Company, Capital International, Inc., Capital International Limited, Capital International Sarl, Capital International K.K., Capital Group Private Client Services, Inc., and Capital Group Investment Management Private Limited (together with CRMC, the "investment management entities"). CII's divisions of each of the investment management entities collectively provide investment management services under the name "Capital International Investors." CII is deemed to be the beneficial owner of 0 shares or 0.0% of the 936,260,261 shares believed to be outstanding. Item 5. If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following: [ X ] Item 6.

View Full Filing

View this SC 13G/A filing on SEC EDGAR