State of New Jersey Common Pension Fund D Sells 204,202 Shares of KeyCorp (NYSE:KEY)

State of New Jersey Common Pension Fund D trimmed its position in KeyCorp (NYSE:KEY) by 43.2% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 268,121 shares of the financial services provider’s stock after selling 204,202 shares during the period. State of New Jersey Common Pension Fund D’s holdings in KeyCorp were worth $3,810,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank bought a new position in shares of KeyCorp in the 4th quarter worth $128,203,000. Ceredex Value Advisors LLC boosted its position in shares of KeyCorp by 112.4% in the 2nd quarter. Ceredex Value Advisors LLC now owns 6,647,393 shares of the financial services provider’s stock worth $94,459,000 after purchasing an additional 3,517,755 shares during the last quarter. Westfield Capital Management Co. LP bought a new position in shares of KeyCorp in the 1st quarter worth $42,857,000. Balyasny Asset Management L.P. boosted its position in shares of KeyCorp by 26,297.7% in the 4th quarter. Balyasny Asset Management L.P. now owns 2,708,664 shares of the financial services provider’s stock worth $39,005,000 after purchasing an additional 2,698,403 shares during the last quarter. Finally, National Bank of Canada FI boosted its position in shares of KeyCorp by 1,051.3% in the 1st quarter. National Bank of Canada FI now owns 2,569,771 shares of the financial services provider’s stock worth $38,752,000 after purchasing an additional 2,346,565 shares during the last quarter. 79.69% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on the company. Jefferies Financial Group raised their price objective on KeyCorp from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Monday, August 19th. JPMorgan Chase & Co. dropped their price objective on KeyCorp from $17.50 to $16.50 and set a “neutral” rating on the stock in a research note on Thursday, June 27th. DA Davidson raised their price objective on KeyCorp from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $18.00 price objective on shares of KeyCorp in a research note on Tuesday, September 10th. Finally, UBS Group downgraded KeyCorp from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $16.00 to $15.00 in a research note on Monday, July 8th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $16.65.

KeyCorp Trading Up 1.8 %

Shares of NYSE:KEY opened at $16.57 on Wednesday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.37. The stock has a market cap of $15.63 billion, a PE ratio of 20.97, a P/E/G ratio of 0.89 and a beta of 1.25. The business has a 50 day moving average of $15.93 and a 200-day moving average of $15.06. KeyCorp has a 12-month low of $9.50 and a 12-month high of $17.20.

KeyCorp (NYSE:KEY) last issued its quarterly earnings results on Thursday, July 18th. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.01. KeyCorp had a return on equity of 8.64% and a net margin of 7.35%. The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same period in the previous year, the company posted $0.27 earnings per share. The firm’s revenue for the quarter was down 4.3% compared to the same quarter last year. As a group, equities research analysts forecast that KeyCorp will post 1.09 earnings per share for the current year.

KeyCorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Tuesday, August 27th were given a dividend of $0.205 per share. The ex-dividend date was Tuesday, August 27th. This represents a $0.82 annualized dividend and a yield of 4.95%. KeyCorp’s dividend payout ratio is currently 103.80%.

Insider Buying and Selling at KeyCorp

In other KeyCorp news, Director Carlton L. Highsmith sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $16.21, for a total transaction of $162,100.00. Following the completion of the transaction, the director now directly owns 46,864 shares in the company, valued at $759,665.44. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.61% of the company’s stock.

KeyCorp Company 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.