Public Employees Retirement System of Ohio Trims Stake in KeyCorp (NYSE:KEY)

Public Employees Retirement System of Ohio lessened its position in shares of KeyCorp (NYSE:KEY - Free Report) by 5.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 328,125 shares of the financial services provider's stock after selling 18,214 shares during the quarter. Public Employees Retirement System of Ohio's holdings in KeyCorp were worth $5,624,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of KeyCorp by 7.1% during the 4th quarter. Vanguard Group Inc. now owns 116,932,760 shares of the financial services provider's stock valued at $2,004,228,000 after purchasing an additional 7,754,576 shares during the last quarter. FMR LLC grew its position in KeyCorp by 7.1% during the fourth quarter. FMR LLC now owns 44,431,526 shares of the financial services provider's stock valued at $761,556,000 after buying an additional 2,938,405 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in KeyCorp by 4.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 36,302,732 shares of the financial services provider's stock valued at $622,229,000 after buying an additional 1,645,296 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in KeyCorp by 4.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 33,058,682 shares of the financial services provider's stock worth $566,626,000 after acquiring an additional 1,452,179 shares during the period. Finally, Fuller & Thaler Asset Management Inc. boosted its stake in shares of KeyCorp by 4.1% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 27,183,748 shares of the financial services provider's stock worth $465,929,000 after acquiring an additional 1,062,615 shares during the last quarter. 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 the stock in a transaction dated 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 transaction, the director now owns 37,177 shares of the company's stock, valued at approximately $617,138.20. This trade represents a 11.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mohit Ramani acquired 10,000 shares of KeyCorp stock in a transaction on Monday, April 21st. The shares were bought at an average cost of $13.75 per share, for a total transaction of $137,500.00. Following the completion of the purchase, the insider now directly owns 10,000 shares of the company's stock, valued at $137,500. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.52% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. decreased their target price on KeyCorp from $18.50 to $16.50 and set a "neutral" rating on the stock in a report on Thursday, April 3rd. Cowen started coverage on KeyCorp in a research note on Wednesday, May 14th. They issued a "hold" rating on the stock. Baird R W raised KeyCorp from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 7th. Wells Fargo & Company reissued an "overweight" rating on shares of KeyCorp in a report on Thursday, April 17th. Finally, Barclays decreased their target price on shares of KeyCorp from $21.00 to $20.00 and set an "equal weight" rating on the stock in a research note on Monday, April 21st. Eleven equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $18.86.

KeyCorp Price Performance

Shares of KeyCorp stock traded down $0.07 during trading on Monday, reaching $15.80. 10,949,832 shares of the stock traded hands, compared to its average volume of 12,998,014. KeyCorp has a 52-week low of $12.73 and a 52-week high of $20.04. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.85 and a quick ratio of 0.84. The business has a fifty day simple moving average of $15.12 and a two-hundred day simple moving average of $16.67. The company has a market capitalization of $17.31 billion, a price-to-earnings ratio of -52.65, a P/E/G ratio of 0.65 and a beta of 1.08.

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

KeyCorp declared that its board has authorized a stock buyback plan on Thursday, March 13th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 6% of its shares through open market purchases. Shares buyback plans are often an indication that the company's board believes its stock is undervalued.

KeyCorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Tuesday, May 27th will be given a dividend of $0.205 per share. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 5.19%. KeyCorp's dividend payout ratio is currently -482.35%.

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.