KeyCorp (NYSE:KEY) Shares Purchased by Teacher Retirement System of Texas

Teacher Retirement System of Texas lifted its stake in KeyCorp (NYSE:KEY) by 27.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 500,776 shares of the financial services provider’s stock after acquiring an additional 109,089 shares during the quarter. Teacher Retirement System of Texas owned 0.05% of KeyCorp worth $10,006,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of KEY. Vantage Consulting Group Inc acquired a new stake in KeyCorp during the 4th quarter worth approximately $27,000. NEXT Financial Group Inc lifted its holdings in KeyCorp by 51.0% during the 1st quarter. NEXT Financial Group Inc now owns 1,427 shares of the financial services provider’s stock worth $29,000 after buying an additional 482 shares in the last quarter. Clearview Wealth Advisors LLC acquired a new stake in KeyCorp during the 1st quarter worth approximately $29,000. Alpha DNA Investment Management LLC acquired a new stake in KeyCorp during the 4th quarter worth approximately $39,000. Finally, Simon Quick Advisors LLC acquired a new stake in KeyCorp during the 1st quarter worth approximately $41,000. Hedge funds and other institutional investors own 79.58% of the company’s stock.

Shares of KeyCorp stock opened at $21.76 on Friday. KeyCorp has a 1 year low of $10.86 and a 1 year high of $23.65. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.86 and a quick ratio of 0.85. The stock has a market cap of $21.12 billion, a P/E ratio of 12.36, a P/E/G ratio of 0.44 and a beta of 1.57. The stock’s fifty day simple moving average is $21.95.

KeyCorp (NYSE:KEY) last released its earnings results on Monday, April 19th. The financial services provider reported $0.61 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.13. KeyCorp had a net margin of 23.76% and a return on equity of 11.06%. The company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.68 billion. During the same quarter last year, the business earned $0.12 EPS. The business’s revenue was up 19.4% on a year-over-year basis. As a group, sell-side analysts anticipate that KeyCorp will post 2.25 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 15th. Stockholders of record on Tuesday, June 1st will be paid a $0.185 dividend. This represents a $0.74 annualized dividend and a dividend yield of 3.40%. The ex-dividend date of this dividend is Friday, May 28th. KeyCorp’s dividend payout ratio (DPR) is presently 58.73%.

In related news, CEO Christopher M. Gorman sold 101,878 shares of the firm’s stock in a transaction dated Monday, April 26th. The shares were sold at an average price of $21.39, for a total value of $2,179,170.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Angela G. Mago sold 13,709 shares of the firm’s stock in a transaction dated Tuesday, May 25th. The shares were sold at an average price of $23.00, for a total transaction of $315,307.00. Following the completion of the sale, the insider now owns 193,762 shares of the company’s stock, valued at approximately $4,456,526. The disclosure for this sale can be found here. Insiders sold a total of 397,290 shares of company stock valued at $8,901,412 in the last 90 days. Company insiders own 0.56% of the company’s stock.

A number of equities research analysts have issued reports on KEY shares. Credit Suisse Group increased their target price on shares of KeyCorp from $30.00 to $34.00 and gave the stock an “outperform” rating in a report on Thursday, May 13th. Wedbush raised shares of KeyCorp from a “neutral” rating to an “outperform” rating in a research report on Monday, May 3rd. Zacks Investment Research raised shares of KeyCorp from a “hold” rating to a “strong-buy” rating and set a $25.00 price objective on the stock in a research report on Monday, May 3rd. Royal Bank of Canada increased their price objective on shares of KeyCorp from $20.00 to $23.00 and gave the company an “outperform” rating in a research report on Wednesday, April 21st. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of KeyCorp from $18.00 to $21.00 and gave the company a “hold” rating in a research report on Thursday, April 1st. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. KeyCorp has a consensus rating of “Hold” and a consensus target price of $24.57.

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; 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.

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Institutional Ownership by Quarter for KeyCorp (NYSE:KEY)

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