Retirement Systems of Alabama Sells 5,280 Shares of KeyCorp (NYSE:KEY)

Retirement Systems of Alabama lessened its stake in shares of KeyCorp (NYSE:KEY) by 2.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 206,342 shares of the financial services provider’s stock after selling 5,280 shares during the period. Retirement Systems of Alabama’s holdings in KeyCorp were worth $2,971,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of KEY. Cornerstone Wealth Management LLC grew its stake in shares of KeyCorp by 6.3% during the 4th quarter. Cornerstone Wealth Management LLC now owns 12,337 shares of the financial services provider’s stock valued at $178,000 after acquiring an additional 732 shares during the period. UMB Bank n.a. boosted its position in shares of KeyCorp by 2.5% in the fourth quarter. UMB Bank n.a. now owns 34,090 shares of the financial services provider’s stock worth $491,000 after purchasing an additional 841 shares during the period. PL Capital Advisors LLC increased its stake in shares of KeyCorp by 1.7% in the third quarter. PL Capital Advisors LLC now owns 54,900 shares of the financial services provider’s stock worth $591,000 after purchasing an additional 900 shares in the last quarter. AHL Investment Management Inc. raised its position in shares of KeyCorp by 1.8% during the 4th quarter. AHL Investment Management Inc. now owns 51,288 shares of the financial services provider’s stock valued at $739,000 after purchasing an additional 900 shares during the period. Finally, Global Retirement Partners LLC lifted its stake in shares of KeyCorp by 15.8% during the 4th quarter. Global Retirement Partners LLC now owns 6,592 shares of the financial services provider’s stock valued at $92,000 after buying an additional 901 shares in the last quarter. Hedge funds and other institutional investors own 79.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on KEY shares. Barclays cut their price target on KeyCorp from $17.00 to $16.00 and set an “equal weight” rating for the company in a research note on Friday, January 19th. Wedbush lowered their price target on KeyCorp from $16.00 to $14.00 and set a “neutral” rating on the stock in a report on Friday, January 19th. DA Davidson dropped their price target on KeyCorp from $17.00 to $16.00 and set a “buy” rating for the company in a research note on Friday, January 19th. Keefe, Bruyette & Woods lifted their price objective on shares of KeyCorp from $16.00 to $18.00 and gave the company an “outperform” rating in a research report on Friday, April 5th. Finally, Morgan Stanley upped their target price on shares of KeyCorp from $12.00 to $16.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 7th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $15.71.

Insider Buying and Selling

In related news, insider Kenneth C. Gavrity sold 2,376 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $14.03, for a total value of $33,335.28. Following the sale, the insider now directly owns 98,120 shares of the company’s stock, valued at approximately $1,376,623.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CAO Douglas M. Schosser sold 3,326 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $14.00, for a total value of $46,564.00. Following the transaction, the chief accounting officer now directly owns 19,795 shares in the company, valued at $277,130. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Kenneth C. Gavrity sold 2,376 shares of KeyCorp stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $14.03, for a total transaction of $33,335.28. Following the sale, the insider now owns 98,120 shares of the company’s stock, valued at approximately $1,376,623.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,442 shares of company stock valued at $303,914. Company insiders own 0.67% of the company’s stock.

KeyCorp Price Performance

Shares of KeyCorp stock opened at $14.94 on Wednesday. The stock has a market cap of $14.09 billion, a price-to-earnings ratio of 18.91 and a beta of 1.28. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.87 and a current ratio of 0.87. The stock has a 50 day moving average price of $14.86 and a 200-day moving average price of $13.79. KeyCorp has a one year low of $8.73 and a one year high of $15.86.

KeyCorp (NYSE:KEY) last posted its quarterly earnings data on Thursday, April 18th. The financial services provider reported $0.22 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.01). KeyCorp had a return on equity of 8.89% and a net margin of 7.53%. The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.51 billion. During the same period in the previous year, the firm earned $0.44 earnings per share. The firm’s quarterly revenue was down 10.6% compared to the same quarter last year. Equities analysts expect that KeyCorp will post 1.15 EPS for the current year.

KeyCorp Profile

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; commercial leasing, investment management, consumer finance; and personal finance and financial wellness, student loan refinancing, mortgage and home equity, lending, credit card, treasury, business advisory, wealth management, asset management, cash management, portfolio management, and trust and related services to individuals and small and medium-sized businesses.