Bank of New York Mellon Corp purchased 5,325,948 shares of KeyCorp. The investment is valued at approximately $122.76 million according to a recent 13F filing. BNY Mellon now holds a 0.49% ownership stake in the financial services company.
Institutional investors and hedge funds currently own nearly 80% of KeyCorp's stock. Market analysts view this significant buy-in as a positive indicator of the company's financial health and future prospects.