California State Teachers Retirement System Cuts Position in KeyCorp (NYSE:KEY)

California State Teachers Retirement System cut its stake in KeyCorp (NYSE:KEYFree Report) by 2.9% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,490,031 shares of the financial services provider’s stock after selling 44,904 shares during the period. California State Teachers Retirement System owned about 0.16% of KeyCorp worth $21,456,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bruce G. Allen Investments LLC purchased a new position in KeyCorp in the fourth quarter worth $26,000. Sound Income Strategies LLC lifted its stake in KeyCorp by 3,600.0% in the fourth quarter. Sound Income Strategies LLC now owns 1,887 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 1,836 shares during the last quarter. Cary Street Partners Investment Advisory LLC bought a new stake in KeyCorp in the third quarter worth $28,000. First United Bank & Trust bought a new stake in KeyCorp in the fourth quarter worth $29,000. Finally, Baldwin Brothers LLC MA bought a new stake in KeyCorp in the fourth quarter worth $35,000. 79.69% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

KEY has been the subject of several recent research reports. JPMorgan Chase & Co. boosted their price target on shares of KeyCorp from $16.00 to $18.00 and gave the stock a “neutral” rating in a research note on Thursday, April 4th. Keefe, Bruyette & Woods boosted their price target on shares of KeyCorp from $16.00 to $18.00 and gave the stock an “outperform” rating in a research note on Friday, April 5th. Jefferies Financial Group boosted their price target on shares of KeyCorp from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Evercore ISI upped their price objective on shares of KeyCorp from $17.00 to $18.00 and gave the company an “outperform” rating in a research note on Thursday, March 28th. Finally, Argus upped their price objective on shares of KeyCorp from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Friday, April 19th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.00.

View Our Latest Research Report on KeyCorp

KeyCorp Price Performance

Shares of KEY opened at $13.93 on Friday. The stock has a market cap of $13.13 billion, a PE ratio of 17.63, a price-to-earnings-growth ratio of 0.67 and a beta of 1.28. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.87 and a current ratio of 0.87. KeyCorp has a fifty-two week low of $9.10 and a fifty-two week high of $15.86. The firm’s 50-day simple moving average is $14.79 and its two-hundred day simple moving average is $14.33.

KeyCorp (NYSE:KEYGet Free Report) last announced its quarterly earnings data on Thursday, April 18th. The financial services provider reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.51 billion. KeyCorp had a return on equity of 8.89% and a net margin of 7.53%. KeyCorp’s revenue for the quarter was down 10.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.44 EPS. Analysts anticipate that KeyCorp will post 1.14 earnings per share for the current fiscal year.

KeyCorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Tuesday, May 28th will be issued a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 5.89%. The ex-dividend date is Friday, May 24th. KeyCorp’s dividend payout ratio (DPR) is presently 103.80%.

KeyCorp Profile

(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.

See Also

Institutional Ownership by Quarter for KeyCorp (NYSE:KEY)

Receive News & Ratings for KeyCorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KeyCorp and related companies with MarketBeat.com's FREE daily email newsletter.