Teachers Retirement System of The State of Kentucky Sells 3,389 Shares of KeyCorp (NYSE:KEY)

Teachers Retirement System of The State of Kentucky reduced its stake in KeyCorp (NYSE:KEY) by 4.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 80,501 shares of the financial services provider’s stock after selling 3,389 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in KeyCorp were worth $1,159,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Cornerstone Wealth Management LLC boosted its holdings in KeyCorp by 6.3% during the fourth quarter. Cornerstone Wealth Management LLC now owns 12,337 shares of the financial services provider’s stock worth $178,000 after buying an additional 732 shares during the last quarter. UMB Bank n.a. boosted its stake in KeyCorp by 2.5% during the 4th quarter. UMB Bank n.a. now owns 34,090 shares of the financial services provider’s stock worth $491,000 after acquiring an additional 841 shares during the last quarter. AHL Investment Management Inc. boosted its stake in KeyCorp by 1.8% during the 4th quarter. AHL Investment Management Inc. now owns 51,288 shares of the financial services provider’s stock worth $739,000 after acquiring an additional 900 shares during the last quarter. Global Retirement Partners LLC grew its holdings in KeyCorp by 15.8% during the fourth quarter. Global Retirement Partners LLC now owns 6,592 shares of the financial services provider’s stock valued at $92,000 after purchasing an additional 901 shares during the period. Finally, Register Financial Advisors LLC increased its stake in KeyCorp by 13.0% in the fourth quarter. Register Financial Advisors LLC now owns 8,021 shares of the financial services provider’s stock valued at $116,000 after purchasing an additional 921 shares in the last quarter. 79.69% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on KEY shares. Royal Bank of Canada boosted their price target on shares of KeyCorp from $15.00 to $16.00 and gave the company an “outperform” rating in a report on Friday, April 19th. Keefe, Bruyette & Woods boosted their target price on KeyCorp from $16.00 to $18.00 and gave the company an “outperform” rating in a research note on Friday, April 5th. JPMorgan Chase & Co. dropped their price target on KeyCorp from $18.00 to $17.50 and set a “neutral” rating on the stock in a research report on Friday, June 14th. Jefferies Financial Group boosted their price objective on KeyCorp from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Finally, Argus increased their target price on KeyCorp from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. One analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $15.97.

KeyCorp Stock Performance

KEY opened at $13.60 on Monday. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.87 and a current ratio of 0.87. The business’s 50-day simple moving average is $14.44 and its 200 day simple moving average is $14.45. The firm has a market capitalization of $12.82 billion, a PE ratio of 17.22, a PEG ratio of 0.69 and a beta of 1.28. KeyCorp has a 52-week low of $9.10 and a 52-week high of $15.86.

KeyCorp (NYSE:KEY) last announced its quarterly earnings data on Thursday, April 18th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). The company 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%. The company’s revenue for the quarter was down 10.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.44 EPS. As a group, sell-side analysts expect that KeyCorp will post 1.13 earnings per share for the current fiscal year.

KeyCorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Tuesday, May 28th were paid a dividend of $0.205 per share. The ex-dividend date was Friday, May 24th. This represents a $0.82 annualized dividend and a dividend yield of 6.03%. KeyCorp’s dividend payout ratio is presently 103.80%.

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.