Jefferies Initiates Coverage of KeyCorp Preferred Stock with Hold Rating

On May 21, 2025, Jefferies began coverage of KeyCorp – Preferred Stock (NYSE: KEY.PRL) with a Hold recommendation.

Fund Sentiment Overview

Currently, 47 funds and institutions have reported positions in KeyCorp – Preferred Stock. This marks a reduction of six owners, or 11.32%, in the last quarter. The average portfolio weight for all funds dedicated to KEY.PRL has increased to 0.55%, a rise of 16.50%. Total shares owned by institutions have decreased by 6.79% over the past three months, totaling 9,209,000 shares.

Actions of Major Shareholders

The iShares Preferred and Income Securities ETF (PFF) holds 2,231,000 shares, down from 2,310,000 shares, indicating a 3.53% decrease. However, PFF has increased its allocation to KEY.PRL by 2.09% over the last quarter.

The Nuveen Preferred Securities and Income Fund (NPSAX) maintains 1,355,000 shares, showing no change since last quarter.

Invesco Preferred ETF (PGX) now holds 979,000 shares, a slight rise from 971,000 shares, representing a 0.83% increase. Their portfolio allocation in KEY.PRL rose by 2.43% over the previous quarter.

Nuveen Preferred & Income Opportunities Fund has held steady at 659,000 shares with no changes in the last quarter.

The Invesco Financial Preferred ETF (PGF) has 467,000 shares, an increase from 464,000, reflecting a 0.66% rise. PGF’s portfolio allocation to KEY.PRL grew by 9.22% in the last quarter.

The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.