KeyCorp (NYSE:KEY) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky lowered its position in shares of KeyCorp (NYSE:KEYGet Rating) by 4.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 67,570 shares of the financial services provider’s stock after selling 2,940 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in KeyCorp were worth $1,512,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of KeyCorp by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 111,201,600 shares of the financial services provider’s stock worth $2,488,691,000 after buying an additional 1,278,193 shares during the last quarter. BlackRock Inc. increased its holdings in shares of KeyCorp by 2.1% during the 4th quarter. BlackRock Inc. now owns 83,634,140 shares of the financial services provider’s stock worth $1,934,456,000 after buying an additional 1,682,794 shares during the last quarter. Capital International Investors increased its holdings in shares of KeyCorp by 8.6% during the 4th quarter. Capital International Investors now owns 83,201,801 shares of the financial services provider’s stock worth $1,924,458,000 after buying an additional 6,586,364 shares during the last quarter. Royal Bank of Canada increased its holdings in KeyCorp by 0.6% in the 1st quarter. Royal Bank of Canada now owns 21,965,131 shares of the financial services provider’s stock valued at $491,578,000 after purchasing an additional 136,741 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in KeyCorp by 5.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 15,127,773 shares of the financial services provider’s stock valued at $338,560,000 after purchasing an additional 834,564 shares during the last quarter. Institutional investors and hedge funds own 83.58% of the company’s stock.

KeyCorp Price Performance

KeyCorp stock opened at $17.13 on Thursday. The stock has a market cap of $15.97 billion, a P/E ratio of 7.51, a price-to-earnings-growth ratio of 0.44 and a beta of 1.30. The company has a fifty day simple moving average of $18.22 and a 200-day simple moving average of $19.40. KeyCorp has a 12-month low of $16.41 and a 12-month high of $27.17. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.33.

KeyCorp (NYSE:KEYGet Rating) last released its quarterly earnings data on Thursday, July 21st. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.02. KeyCorp had a net margin of 28.53% and a return on equity of 15.01%. The business had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.76 billion. During the same period in the previous year, the company earned $0.72 EPS. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. Equities analysts expect that KeyCorp will post 2.24 EPS for the current fiscal year.

KeyCorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Tuesday, August 30th were given a $0.195 dividend. The ex-dividend date of this dividend was Monday, August 29th. This represents a $0.78 dividend on an annualized basis and a yield of 4.55%. KeyCorp’s dividend payout ratio (DPR) is presently 34.21%.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Wells Fargo & Company dropped their target price on shares of KeyCorp from $27.00 to $22.00 and set an “overweight” rating for the company in a report on Friday, July 1st. Citigroup dropped their target price on shares of KeyCorp from $22.00 to $19.00 and set a “neutral” rating for the company in a report on Tuesday, July 12th. Morgan Stanley lifted their target price on shares of KeyCorp from $21.00 to $23.00 and gave the company an “equal weight” rating in a report on Friday, July 22nd. Wedbush lifted their target price on shares of KeyCorp to $21.00 in a report on Friday, July 22nd. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of KeyCorp from $26.50 to $23.00 and set a “hold” rating for the company in a research note on Monday, September 12th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $23.37.

Insider Activity at KeyCorp

In related news, Director Carlton L. Highsmith sold 5,200 shares of the business’s stock in a transaction on Wednesday, September 14th. The shares were sold at an average price of $17.59, for a total value of $91,468.00. Following the completion of the sale, the director now directly owns 64,139 shares of the company’s stock, valued at $1,128,205.01. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.54% of the stock is owned by corporate insiders.

About KeyCorp

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KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking products and services in the United States. It operates in two segments, Consumer Bank and Commercial Bank. The company offers various deposits, investment products and services; and personal finance and financial wellness, student loan refinancing, mortgage and home equity, lending, credit card, treasury, business advisory, wealth management, asset management, investment, cash management, portfolio management, and trust and related services to individuals and small and medium-sized businesses.

Further Reading

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Institutional Ownership by Quarter for KeyCorp (NYSE:KEY)

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