Public Employees Retirement System of Ohio Purchases 8,599 Shares of KeyCorp $KEY

Public Employees Retirement System of Ohio boosted its position in KeyCorp (NYSE:KEY) by 2.9% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 303,812 shares of the financial services provider’s stock after purchasing an additional 8,599 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in KeyCorp were worth $5,292,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in KEY. Brighton Jones LLC bought a new position in KeyCorp in the fourth quarter worth about $476,000. Centaurus Financial Inc. raised its holdings in KeyCorp by 11.2% in the fourth quarter. Centaurus Financial Inc. now owns 7,218 shares of the financial services provider’s stock worth $124,000 after purchasing an additional 728 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of KeyCorp by 22.5% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 102,451 shares of the financial services provider’s stock valued at $1,756,000 after acquiring an additional 18,790 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of KeyCorp by 1,652.8% during the first quarter. GAMMA Investing LLC now owns 533,091 shares of the financial services provider’s stock valued at $8,524,000 after acquiring an additional 502,678 shares in the last quarter. Finally, Parallel Advisors LLC increased its holdings in shares of KeyCorp by 50.4% during the first quarter. Parallel Advisors LLC now owns 7,501 shares of the financial services provider’s stock valued at $120,000 after acquiring an additional 2,514 shares in the last quarter. 79.69% of the stock is currently owned by institutional investors.

KeyCorp Price Performance

Shares of NYSE KEY opened at $18.87 on Tuesday. The business’s 50 day moving average price is $18.59 and its 200 day moving average price is $16.90. The firm has a market cap of $20.69 billion, a P/E ratio of -269.50, a P/E/G ratio of 0.66 and a beta of 1.15. KeyCorp has a 52 week low of $12.73 and a 52 week high of $20.04. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.71.

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

KeyCorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were given a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 4.3%. The ex-dividend date was Tuesday, September 2nd. KeyCorp’s dividend payout ratio is currently -1,171.43%.

Insiders Place Their Bets

In other KeyCorp news, Director Trina M. Evans sold 17,000 shares of the company’s stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $18.67, for a total value of $317,390.00. Following the sale, the director owned 82,719 shares in the company, valued at approximately $1,544,363.73. This represents a 17.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Andrew J. Paine III sold 44,953 shares of the company’s stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $19.29, for a total value of $867,143.37. Following the completion of the sale, the insider owned 245,044 shares in the company, valued at approximately $4,726,898.76. This represents a 15.50% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 174,102 shares of company stock worth $3,299,664. Corporate insiders own 0.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Morgan Stanley upped their price objective on shares of KeyCorp from $20.00 to $24.00 and gave the company an “underperform” rating in a report on Monday. Robert W. Baird downgraded shares of KeyCorp from an “outperform” rating to a “neutral” rating and set a $18.00 price objective on the stock. in a report on Wednesday, July 2nd. Citigroup restated a “neutral” rating and set a $20.00 price objective (up previously from $19.00) on shares of KeyCorp in a report on Thursday, July 24th. Jefferies Financial Group cut their price objective on shares of KeyCorp from $21.00 to $20.00 and set a “hold” rating on the stock in a report on Wednesday, September 24th. Finally, Baird R W downgraded shares of KeyCorp from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 2nd. Ten analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $19.81.

KeyCorp Company 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.