Louisiana State Employees Retirement System Takes Position in KeyCorp (NYSE:KEY)

Louisiana State Employees Retirement System bought a new stake in shares of KeyCorp (NYSE:KEY - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 56,600 shares of the financial services provider's stock, valued at approximately $815,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Friedenthal Financial acquired a new stake in KeyCorp during the fourth quarter worth about $47,000. Tennessee Valley Asset Management Partners acquired a new stake in KeyCorp during the fourth quarter worth about $59,000. Genesee Capital Advisors LLC acquired a new stake in KeyCorp during the fourth quarter worth about $155,000. Valeo Financial Advisors LLC grew its holdings in KeyCorp by 9.1% during the fourth quarter. Valeo Financial Advisors LLC now owns 68,509 shares of the financial services provider's stock worth $987,000 after acquiring an additional 5,727 shares during the period. Finally, Sapient Capital LLC acquired a new stake in KeyCorp during the fourth quarter worth about $623,000. 79.69% of the stock is owned by institutional investors and hedge funds.

KeyCorp Stock Performance

KEY traded up $0.09 on Friday, hitting $14.70. 11,793,143 shares of the company traded hands, compared to its average volume of 14,096,899. The company has a 50 day moving average of $14.76 and a 200-day moving average of $13.56. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.72. The stock has a market capitalization of $13.63 billion, a PE ratio of 18.61 and a beta of 1.29. KeyCorp has a 12-month low of $8.53 and a 12-month high of $15.86.

KeyCorp (NYSE:KEY - Get Free Report) last released its earnings results on Thursday, April 18th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.01). KeyCorp had a return on equity of 8.89% and a net margin of 7.53%. The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same quarter in the previous year, the firm posted $0.44 EPS. The business's revenue for the quarter was down 10.6% on a year-over-year basis. Sell-side analysts anticipate that KeyCorp will post 1.15 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Trina M. Evans sold 12,335 shares of the company's stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $14.23, for a total value of $175,527.05. Following the sale, the director now owns 81,622 shares in the company, valued at approximately $1,161,481.06. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Trina M. Evans sold 12,335 shares of the business's stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $14.23, for a total value of $175,527.05. Following the completion of the transaction, the director now owns 81,622 shares of the company's stock, valued at approximately $1,161,481.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Angela G. Mago sold 3,405 shares of the business's stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $14.24, for a total transaction of $48,487.20. Following the completion of the transaction, the insider now directly owns 214,630 shares of the company's stock, valued at approximately $3,056,331.20. The disclosure for this sale can be found here. Insiders have sold a total of 21,442 shares of company stock worth $303,914 in the last quarter. Company insiders own 0.61% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Wedbush dropped their price objective on KeyCorp from $16.00 to $14.00 and set a "neutral" rating on the stock in a report on Friday, January 19th. Royal Bank of Canada raised their target price on KeyCorp from $15.00 to $16.00 and gave the company an "outperform" rating in a research report on Friday, April 19th. Keefe, Bruyette & Woods raised their target price on KeyCorp from $16.00 to $18.00 and gave the company an "outperform" rating in a research report on Friday, April 5th. Morgan Stanley raised their target price on KeyCorp from $12.00 to $16.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 7th. Finally, Wells Fargo & Company raised their target price on KeyCorp from $16.00 to $18.00 and gave the company an "overweight" rating in a research report on Thursday, March 28th. One analyst has rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, KeyCorp presently has a consensus rating of "Moderate Buy" and an average price target of $15.71.

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.