Teachers Retirement System of The State of Kentucky lessened its position in shares of KeyCorp (NYSE:KEY - Free Report) by 94.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 76,410 shares of the financial services provider's stock after selling 1,398,896 shares during the period. Teachers Retirement System of The State of Kentucky's holdings in KeyCorp were worth $1,221,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in KeyCorp by 7.1% in 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 acquiring an additional 7,754,576 shares during the period. FMR LLC increased its position in shares of KeyCorp by 7.1% during the fourth quarter. FMR LLC now owns 44,431,526 shares of the financial services provider's stock worth $761,556,000 after buying an additional 2,938,405 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of 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 worth $622,229,000 after buying an additional 1,645,296 shares during the period. Fuller & Thaler Asset Management Inc. increased its position in shares of KeyCorp by 4.1% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 27,183,748 shares of the financial services provider's stock worth $465,929,000 after buying an additional 1,062,615 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of KeyCorp by 7.6% during the fourth quarter. Geode Capital Management LLC now owns 23,349,979 shares of the financial services provider's stock worth $399,169,000 after buying an additional 1,647,332 shares during the period. Institutional investors own 79.69% of the company's stock.
Insider Buying and Selling at KeyCorp
In other news, Director Carlton L. Highsmith sold 5,000 shares of the business's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $16.60, for a total value of $83,000.00. Following the sale, the director owned 37,177 shares of the company's stock, valued at approximately $617,138.20. The trade was a 11.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Christopher M. Gorman sold 112,149 shares of the business's stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $18.86, for a total value of $2,115,130.14. Following the completion of the sale, the chief executive officer directly owned 619,895 shares in the company, valued at $11,691,219.70. This represents a 15.32% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 136,149 shares of company stock worth $2,503,840 in the last 90 days. 0.52% of the stock is owned by corporate insiders.
KeyCorp Stock Performance
Shares of KeyCorp stock traded up $0.07 during trading hours on Friday, hitting $18.57. 39,231,158 shares of the company were exchanged, compared to its average volume of 23,438,416. The business has a 50-day moving average of $17.00 and a 200-day moving average of $16.46. KeyCorp has a 1 year low of $12.73 and a 1 year high of $20.04. The stock has a market capitalization of $20.35 billion, a price-to-earnings ratio of -265.21, a P/E/G ratio of 0.65 and a beta of 1.11. 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 - Get Free Report) last issued its quarterly earnings data 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 return on equity of 9.65% and a net margin of 1.49%. The business had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.81 billion. During the same period in the prior year, the business earned $0.25 earnings per share. The business's revenue was up 20.6% on a year-over-year basis. As a group, analysts expect that KeyCorp will post 1.5 EPS for the current fiscal year.
KeyCorp Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $0.205 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $0.82 dividend on an annualized basis and a yield of 4.42%. KeyCorp's dividend payout ratio (DPR) is presently -482.35%.
Analysts Set New Price Targets
A number of research analysts have weighed in on the stock. Keefe, Bruyette & Woods dropped their price objective on shares of KeyCorp from $20.00 to $18.00 and set an "outperform" rating on the stock in a research note on Monday, April 21st. 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. Morgan Stanley reaffirmed an "equal weight" rating on shares of KeyCorp in a research note on Thursday, April 17th. Cowen initiated coverage on shares of KeyCorp in a research report on Wednesday, May 14th. They set a "hold" rating on the stock. Finally, TD Cowen initiated coverage on shares of KeyCorp in a research report on Thursday, May 15th. They set a "hold" rating and a $18.00 price target on the stock. Twelve analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $19.24.
View Our Latest Analysis on KEY
About KeyCorp
(
Free Report)
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.
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