Oregon Public Employees Retirement Fund Sells 923 Shares of KeyCorp (NYSE:KEY)

Oregon Public Employees Retirement Fund cut its holdings in KeyCorp (NYSE:KEYGet Rating) by 1.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 71,293 shares of the financial services provider’s stock after selling 923 shares during the period. Oregon Public Employees Retirement Fund’s holdings in KeyCorp were worth $1,142,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of KeyCorp by 1.2% in the first quarter. Vanguard Group Inc. now owns 111,201,600 shares of the financial services provider’s stock worth $2,488,691,000 after purchasing an additional 1,278,193 shares during the period. Royal Bank of Canada increased its stake in shares of KeyCorp by 0.6% in the first quarter. Royal Bank of Canada now owns 21,965,131 shares of the financial services provider’s stock worth $491,578,000 after purchasing an additional 136,741 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of KeyCorp by 5.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 15,127,773 shares of the financial services provider’s stock worth $338,560,000 after purchasing an additional 834,564 shares during the period. Federated Hermes Inc. increased its stake in shares of KeyCorp by 65.9% in the second quarter. Federated Hermes Inc. now owns 13,608,794 shares of the financial services provider’s stock worth $234,479,000 after purchasing an additional 5,406,238 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of KeyCorp by 3.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 7,125,536 shares of the financial services provider’s stock worth $122,773,000 after purchasing an additional 205,284 shares during the period. 82.11% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on KEY shares. Piper Sandler lowered their price target on KeyCorp to $16.50 in a research note on Thursday, September 29th. Barclays upgraded KeyCorp from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $21.00 to $24.00 in a research note on Tuesday, January 3rd. JPMorgan Chase & Co. lowered KeyCorp from a “neutral” rating to an “underweight” rating and lowered their price target for the company from $18.50 to $17.00 in a research note on Tuesday, December 13th. StockNews.com lowered KeyCorp from a “hold” rating to a “sell” rating in a research note on Tuesday, January 10th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on KeyCorp from $23.00 to $20.00 in a research note on Friday, January 6th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $20.06.

KeyCorp Stock Up 6.0 %

Shares of KEY opened at $17.44 on Monday. The company has a market capitalization of $16.27 billion, a P/E ratio of 9.08 and a beta of 1.29. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.84 and a quick ratio of 0.84. KeyCorp has a one year low of $15.26 and a one year high of $27.10. The business’s 50 day simple moving average is $17.85 and its 200-day simple moving average is $17.77.

KeyCorp (NYSE:KEYGet Rating) last announced its earnings results on Thursday, January 19th. The financial services provider reported $0.38 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.17). KeyCorp had a return on equity of 15.27% and a net margin of 22.46%. During the same period last year, the company earned $0.64 earnings per share. As a group, sell-side analysts predict that KeyCorp will post 2.14 EPS for the current fiscal year.

KeyCorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 15th. Stockholders of record on Tuesday, February 28th will be issued a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 4.70%. The ex-dividend date of this dividend is Monday, February 27th. KeyCorp’s payout ratio is currently 42.71%.

KeyCorp Profile

(Get Rating)

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; and personal finance and financial wellness, student loan refinancing, mortgage and home equity, lending, credit card, treasury, business advisory, wealth management, asset management, investment, cash management, portfolio management, and trust and related services to individuals and small and medium-sized businesses.

Further Reading

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Institutional Ownership by Quarter for KeyCorp (NYSE:KEY)

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