BlackRock Inc. acquired 88,464,784 shares of KeyCorp during the second quarter. The investment is valued at approximately $2.04 billion. This purchase gives the asset management giant an 8.29% ownership stake in the financial services provider.
Wealthfront Advisers LLC also established a new position in KeyCorp with 431,385 shares. This stake is valued at approximately $9.94 million. These institutional investments follow KeyCorp's July earnings report, which exceeded consensus estimates for earnings per share.