Strs Ohio Invests $1.43 Million in KeyCorp $KEY

Strs Ohio purchased a new position in KeyCorp (NYSE:KEY) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 89,465 shares of the financial services provider’s stock, valued at approximately $1,431,000.

Other large investors have also bought and sold shares of the company. Fourth Dimension Wealth LLC acquired a new stake in KeyCorp in the fourth quarter worth $28,000. Zions Bancorporation National Association UT acquired a new stake in KeyCorp in the first quarter worth $28,000. FSC Wealth Advisors LLC acquired a new stake in KeyCorp in the first quarter worth $34,000. Allworth Financial LP grew its holdings in KeyCorp by 246.9% in the first quarter. Allworth Financial LP now owns 2,168 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 1,543 shares during the period. Finally, NBC Securities Inc. grew its holdings in KeyCorp by 123,900.0% in the first quarter. NBC Securities Inc. now owns 2,480 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 2,478 shares during the period. 79.69% of the stock is currently owned by institutional investors and hedge funds.

KeyCorp Price Performance

Shares of NYSE:KEY opened at $18.71 on Thursday. The company has a 50 day moving average of $18.49 and a 200 day moving average of $16.71. The stock has a market cap of $20.52 billion, a P/E ratio of -267.29, a P/E/G ratio of 0.65 and a beta of 1.15. KeyCorp has a 12 month low of $12.73 and a 12 month high of $20.04. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.71.

KeyCorp (NYSE:KEY) last announced its earnings results on Tuesday, July 22nd. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.01. KeyCorp had a net margin of 1.49% and a return on equity of 9.65%. The business had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.81 billion. During the same period in the previous year, the business posted $0.25 earnings per share. KeyCorp’s revenue for the quarter was up 20.6% on a year-over-year basis. As a group, sell-side analysts forecast that KeyCorp will post 1.5 EPS for the current fiscal year.

KeyCorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date was Tuesday, September 2nd. KeyCorp’s dividend payout ratio is currently -1,171.43%.

Analyst Ratings Changes

KEY has been the subject of a number of research reports. Wells Fargo & Company raised their price target on shares of KeyCorp from $18.00 to $20.00 and gave the stock an “overweight” rating in a report on Tuesday, July 8th. Citigroup reaffirmed a “neutral” rating and issued a $20.00 price objective (up from $19.00) on shares of KeyCorp in a research note on Thursday, July 24th. Robert W. Baird lowered shares of KeyCorp from an “outperform” rating to a “neutral” rating and set a $18.00 price objective on the stock. in a research note on Wednesday, July 2nd. Truist Financial raised their price objective on shares of KeyCorp from $17.00 to $19.00 and gave the company a “hold” rating in a research note on Monday, July 28th. Finally, UBS Group raised shares of KeyCorp from a “neutral” rating to a “buy” rating and raised their price objective for the company from $16.00 to $22.00 in a research note on Tuesday, July 8th. Ten research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $19.39.

Insider Activity at KeyCorp

In other KeyCorp news, insider Andrew J. Paine III sold 44,953 shares of the business’s stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $19.29, for a total transaction of $867,143.37. Following the transaction, the insider directly owned 245,044 shares of the company’s stock, valued at approximately $4,726,898.76. The trade was a 15.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher M. Gorman sold 112,149 shares of the business’s stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $18.86, for a total transaction of $2,115,130.14. Following the transaction, the chief executive officer directly owned 619,895 shares in the company, valued at approximately $11,691,219.70. The trade was a 15.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 174,102 shares of company stock worth $3,299,664 in the last three months. 0.52% of the stock is owned by insiders.

About KeyCorp

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.