KeyCorp (NYSE:KEY) Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System lowered its holdings in KeyCorp (NYSE:KEY - Free Report) by 11.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,294,906 shares of the financial services provider's stock after selling 172,859 shares during the quarter. California State Teachers Retirement System owned 0.12% of KeyCorp worth $22,195,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Whittier Trust Co. increased its stake in KeyCorp by 110.3% in the 4th quarter. Whittier Trust Co. now owns 1,525 shares of the financial services provider's stock worth $26,000 after buying an additional 800 shares in the last quarter. Ethos Financial Group LLC purchased a new position in KeyCorp during the 4th quarter valued at $27,000. Fourth Dimension Wealth LLC purchased a new stake in shares of KeyCorp during the fourth quarter valued at $28,000. SBI Securities Co. Ltd. purchased a new stake in shares of KeyCorp in the fourth quarter valued at approximately $34,000. Finally, TCTC Holdings LLC lifted its holdings in shares of KeyCorp by 38.6% in the 4th quarter. TCTC Holdings LLC now owns 2,195 shares of the financial services provider's stock worth $38,000 after buying an additional 611 shares during the period. Hedge funds and other institutional investors own 79.69% of the company's stock.

Insider Activity at KeyCorp

In related news, Director Carlton L. Highsmith sold 5,000 shares of KeyCorp stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $16.60, for a total value of $83,000.00. Following the completion of the sale, the director now owns 37,177 shares in the company, valued at approximately $617,138.20. This trade represents a 11.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mohit Ramani bought 10,000 shares of the stock in a transaction that occurred on Monday, April 21st. The shares were bought at an average cost of $13.75 per share, with a total value of $137,500.00. Following the completion of the purchase, the insider now directly owns 10,000 shares in the company, valued at $137,500. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.52% of the company's stock.

KeyCorp Trading Up 1.0%

KEY traded up $0.16 on Tuesday, hitting $15.96. 3,241,256 shares of the company were exchanged, compared to its average volume of 12,960,762. The firm has a fifty day simple moving average of $15.12 and a two-hundred day simple moving average of $16.67. The stock has a market capitalization of $17.49 billion, a PE ratio of -53.20, a price-to-earnings-growth ratio of 0.65 and a beta of 1.08. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.84 and a current ratio of 0.85. KeyCorp has a 12 month low of $12.73 and a 12 month high of $20.04.

KeyCorp (NYSE:KEY - Get Free Report) last issued its quarterly earnings data on Thursday, April 17th. The financial services provider reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.01. KeyCorp had a negative net margin of 2.52% and a positive return on equity of 8.73%. The firm had revenue of $1.77 billion for the quarter, compared to analysts' expectations of $1.77 billion. During the same quarter in the prior year, the business earned $0.20 EPS. Sell-side analysts expect that KeyCorp will post 1.5 earnings per share for the current year.

KeyCorp declared that its board has approved a stock buyback plan on Thursday, March 13th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the financial services provider to purchase up to 6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its stock is undervalued.

KeyCorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Tuesday, May 27th will be issued a $0.205 dividend. The ex-dividend date is Tuesday, May 27th. This represents a $0.82 annualized dividend and a dividend yield of 5.14%. KeyCorp's dividend payout ratio (DPR) is presently -482.35%.

Analyst Upgrades and Downgrades

A number of research firms have commented on KEY. Barclays decreased their price target on KeyCorp from $21.00 to $20.00 and set an "equal weight" rating for the company in a research note on Monday, April 21st. Royal Bank of Canada reissued an "outperform" rating on shares of KeyCorp in a research note on Thursday, April 17th. Keefe, Bruyette & Woods lowered their target price on KeyCorp from $20.00 to $18.00 and set an "outperform" rating for the company in a report on Monday, April 21st. Jefferies Financial Group started coverage on KeyCorp in a report on Wednesday, May 21st. They set a "hold" rating and a $18.00 price target for the company. Finally, Baird R W upgraded KeyCorp from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 7th. Eleven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, KeyCorp presently has an average rating of "Moderate Buy" and an average target price of $18.86.

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.