California State Teachers Retirement System Trims Stake in KeyCorp (NYSE:KEY)

California State Teachers Retirement System lessened its position in shares of KeyCorp (NYSE:KEY – Get Rating) by 0.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,571,557 shares of the financial services provider’s stock after selling 10,400 shares during the quarter. California State Teachers Retirement System’s holdings in KeyCorp were worth $25,176,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in KEY. Boothbay Fund Management LLC purchased a new position in shares of KeyCorp during the third quarter worth approximately $271,000. Pathstone Family Office LLC boosted its stake in KeyCorp by 1.3% during the 3rd quarter. Pathstone Family Office LLC now owns 97,440 shares of the financial services provider’s stock worth $1,568,000 after purchasing an additional 1,260 shares during the period. Orion Portfolio Solutions LLC grew its position in KeyCorp by 49.9% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 16,585 shares of the financial services provider’s stock worth $266,000 after purchasing an additional 5,522 shares during the last quarter. Greenleaf Trust increased its stake in KeyCorp by 4.2% in the third quarter. Greenleaf Trust now owns 26,017 shares of the financial services provider’s stock valued at $417,000 after purchasing an additional 1,041 shares during the period. Finally, Savant Capital LLC raised its holdings in shares of KeyCorp by 6.7% in the third quarter. Savant Capital LLC now owns 22,533 shares of the financial services provider’s stock valued at $361,000 after buying an additional 1,408 shares during the last quarter. Institutional investors and hedge funds own 82.11% of the company’s stock.

KeyCorp Stock Performance

Shares of KEY stock opened at $11.53 on Friday. KeyCorp has a 12-month low of $9.60 and a 12-month high of $24.62. The company has a market cap of $10.74 billion, a price-to-earnings ratio of 6.01, a price-to-earnings-growth ratio of 0.99 and a beta of 1.31. The stock has a 50 day simple moving average of $17.81 and a 200-day simple moving average of $17.64. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.76.

KeyCorp (NYSE:KEY – Get Rating) last released its quarterly earnings data on Thursday, January 19th. The financial services provider reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.17). KeyCorp had a net margin of 22.46% and a return on equity of 15.27%. The firm had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.93 billion. During the same period in the previous year, the business earned $0.64 earnings per share. On average, equities analysts forecast that KeyCorp will post 1.99 EPS for the current year.

KeyCorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 15th. Investors of record on Tuesday, February 28th were paid a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 7.11%. The ex-dividend date was Monday, February 27th. KeyCorp’s payout ratio is currently 42.71%.

Insider Activity at KeyCorp

In related news, insider Amy G. Brady sold 45,000 shares of the firm’s stock in a transaction that occurred on Friday, March 10th. The stock was sold at an average price of $15.58, for a total value of $701,100.00. Following the completion of the transaction, the insider now directly owns 119,121 shares of the company’s stock, valued at approximately $1,855,905.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Ruth Ann M. Gillis acquired 2,000 shares of the business’s stock in a transaction on Tuesday, March 14th. The shares were bought at an average cost of $12.95 per share, with a total value of $25,900.00. Following the completion of the transaction, the director now directly owns 42,961 shares of the company’s stock, valued at approximately $556,344.95. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Amy G. Brady sold 45,000 shares of the firm’s stock in a transaction dated Friday, March 10th. The shares were sold at an average price of $15.58, for a total value of $701,100.00. Following the completion of the transaction, the insider now directly owns 119,121 shares in the company, valued at $1,855,905.18. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. JPMorgan Chase & Co. lowered their price target on KeyCorp from $17.00 to $16.00 and set an “underweight” rating on the stock in a report on Monday, January 23rd. Odeon Capital Group cut KeyCorp from a “buy” rating to a “hold” rating in a research report on Monday, March 13th. Deutsche Bank Aktiengesellschaft decreased their price objective on KeyCorp from $23.00 to $20.00 in a research report on Friday, January 6th. Barclays raised KeyCorp from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $21.00 to $24.00 in a research report on Tuesday, January 3rd. Finally, Keefe, Bruyette & Woods decreased their price objective on KeyCorp from $20.00 to $19.00 and set a “market perform” rating for the company in a research report on Wednesday, March 8th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $19.87.

KeyCorp Company Profile

(Get Rating)

KeyCorp is a bank holding company, which engages in the provision of financial services. It provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, student loan refinancing, commercial mortgage servicing and special servicing, and investment banking products and services to individual, corporate, and institutional clients.