KeyCorp (NYSE:KEY) Stake Trimmed by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund cut its position in shares of KeyCorp (NYSE:KEY) by 7.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 30,907 shares of the financial services provider’s stock after selling 2,448 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in KeyCorp were worth $489,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in KEY. Raymond James & Associates boosted its position in KeyCorp by 44.1% during the 4th quarter. Raymond James & Associates now owns 1,610,148 shares of the financial services provider’s stock worth $23,186,000 after acquiring an additional 492,584 shares during the period. Raymond James Financial Services Advisors Inc. grew its holdings in shares of KeyCorp by 3.4% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 181,902 shares of the financial services provider’s stock valued at $2,619,000 after acquiring an additional 6,002 shares in the last quarter. Blue Trust Inc. grew its stake in KeyCorp by 20.1% in the fourth quarter. Blue Trust Inc. now owns 12,030 shares of the financial services provider’s stock valued at $173,000 after purchasing an additional 2,016 shares in the last quarter. Global Retirement Partners LLC increased its holdings in KeyCorp by 15.8% in the fourth quarter. Global Retirement Partners LLC now owns 6,592 shares of the financial services provider’s stock worth $92,000 after buying an additional 901 shares during the last quarter. Finally, Fifth Third Bancorp increased its stake in shares of KeyCorp by 1.0% during the 4th quarter. Fifth Third Bancorp now owns 237,934 shares of the financial services provider’s stock worth $3,426,000 after purchasing an additional 2,344 shares during the last quarter. 79.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on KEY shares. Royal Bank of Canada upped their price target on KeyCorp from $16.00 to $17.00 and gave the stock an “outperform” rating in a research note on Friday, July 19th. UBS Group lowered KeyCorp from a “buy” rating to a “neutral” rating and lowered their target price for the company from $16.00 to $15.00 in a report on Monday, July 8th. Jefferies Financial Group boosted their target price on shares of KeyCorp from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Keefe, Bruyette & Woods upped their target price on shares of KeyCorp from $16.00 to $18.00 and gave the company an “outperform” rating in a research note on Friday, April 5th. Finally, Argus raised their price target on shares of KeyCorp from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, KeyCorp presently has an average rating of “Moderate Buy” and a consensus price target of $16.13.

KeyCorp Price Performance

KeyCorp stock traded down $0.26 on Monday, reaching $16.20. The company’s stock had a trading volume of 6,841,034 shares, compared to its average volume of 14,835,555. The business’s fifty day moving average price is $14.46 and its 200 day moving average price is $14.57. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market cap of $15.27 billion, a price-to-earnings ratio of 20.84, a PEG ratio of 0.89 and a beta of 1.26. KeyCorp has a twelve month low of $9.50 and a twelve month high of $16.50.

KeyCorp (NYSE:KEY) last issued its quarterly earnings data on Thursday, July 18th. The financial services provider reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.52 billion. KeyCorp had a net margin of 7.35% and a return on equity of 8.64%. The company’s revenue was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.27 EPS. Equities analysts expect that KeyCorp will post 1.12 earnings per share for the current fiscal year.

KeyCorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Tuesday, August 27th will be issued a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 5.06%. The ex-dividend date is Tuesday, August 27th. KeyCorp’s dividend payout ratio is 103.80%.

KeyCorp Profile

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.