Retirement Systems of Alabama Sells 5,280 Shares of KeyCorp (NYSE:KEY)

Retirement Systems of Alabama decreased its position in shares of KeyCorp (NYSE:KEY) by 2.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 206,342 shares of the financial services provider’s stock after selling 5,280 shares during the quarter. Retirement Systems of Alabama’s holdings in KeyCorp were worth $2,971,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of KEY. Bruce G. Allen Investments LLC bought a new position in KeyCorp during the fourth quarter worth $26,000. Sound Income Strategies LLC raised its position in shares of KeyCorp by 3,600.0% in the 4th quarter. Sound Income Strategies LLC now owns 1,887 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 1,836 shares in the last quarter. Cary Street Partners Investment Advisory LLC acquired a new position in shares of KeyCorp in the 3rd quarter valued at about $28,000. Baldwin Brothers LLC MA bought a new stake in shares of KeyCorp during the 4th quarter valued at about $35,000. Finally, Creative Financial Designs Inc. ADV grew its stake in KeyCorp by 195.2% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 2,666 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 1,763 shares during the period. Institutional investors and hedge funds own 79.69% of the company’s stock.

KeyCorp Stock Down 1.3 %

KEY opened at $14.94 on Wednesday. KeyCorp has a fifty-two week low of $8.73 and a fifty-two week high of $15.86. The firm has a market capitalization of $14.09 billion, a P/E ratio of 18.91 and a beta of 1.28. The company’s 50-day moving average is $14.86 and its 200 day moving average is $13.79. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.87 and a quick ratio of 0.87.

KeyCorp (NYSE:KEY) last posted its earnings results on Thursday, April 18th. The financial services provider reported $0.22 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.01). The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.51 billion. KeyCorp had a return on equity of 8.89% and a net margin of 7.53%. KeyCorp’s quarterly revenue was down 10.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.44 EPS. Research analysts expect that KeyCorp will post 1.15 earnings per share for the current fiscal year.

Analyst Ratings Changes

KEY has been the topic of several recent analyst reports. Morgan Stanley boosted their price target on KeyCorp from $12.00 to $16.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 7th. Jefferies Financial Group raised their price target on shares of KeyCorp from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Royal Bank of Canada upped their price objective on shares of KeyCorp from $15.00 to $16.00 and gave the company an “outperform” rating in a report on Friday, April 19th. Argus raised their target price on KeyCorp from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Friday, April 19th. Finally, Barclays decreased their target price on KeyCorp from $17.00 to $16.00 and set an “equal weight” rating for the company in a research report on Friday, January 19th. One analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, KeyCorp currently has a consensus rating of “Moderate Buy” and an average price target of $15.71.

Insider Buying and Selling

In other KeyCorp news, insider Angela G. Mago sold 3,405 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $14.24, for a total value of $48,487.20. Following the completion of the transaction, the insider now owns 214,630 shares in the company, valued at approximately $3,056,331.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, 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 value of $48,487.20. Following the transaction, the insider now directly owns 214,630 shares of the company’s stock, valued at approximately $3,056,331.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Trina M. Evans sold 12,335 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $14.23, for a total transaction of $175,527.05. Following the sale, the director now owns 81,622 shares of the company’s stock, valued at approximately $1,161,481.06. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,442 shares of company stock worth $303,914. 0.67% of the stock is owned by company insiders.

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.