KeyCorp (NYSE:KEY) Shares Sold by State Board of Administration of Florida Retirement System

State Board of Administration of Florida Retirement System decreased its holdings in KeyCorp (NYSE:KEYGet Rating) by 6.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,205,856 shares of the financial services provider’s stock after selling 86,214 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.13% of KeyCorp worth $26,987,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of KEY. Allspring Global Investments Holdings LLC acquired a new stake in KeyCorp in the 4th quarter valued at about $3,153,000. Yousif Capital Management LLC purchased a new stake in shares of KeyCorp in the 4th quarter valued at approximately $3,467,000. D.A. Davidson & CO. grew its stake in shares of KeyCorp by 1.4% in the 4th quarter. D.A. Davidson & CO. now owns 58,989 shares of the financial services provider’s stock valued at $1,366,000 after buying an additional 834 shares during the period. CWM LLC purchased a new stake in shares of KeyCorp in the 4th quarter valued at approximately $191,000. Finally, Xponance Inc. grew its stake in shares of KeyCorp by 21.1% in the 4th quarter. Xponance Inc. now owns 59,135 shares of the financial services provider’s stock valued at $1,368,000 after buying an additional 10,289 shares during the period. Institutional investors and hedge funds own 83.24% of the company’s stock.

Wall Street Analysts Forecast Growth

KEY has been the subject of several analyst reports. Citigroup dropped their price target on shares of KeyCorp from $22.00 to $19.00 and set a “neutral” rating for the company in a research note on Tuesday, July 12th. Wells Fargo & Company dropped their price target on shares of KeyCorp from $27.00 to $22.00 and set an “overweight” rating for the company in a research note on Friday, July 1st. The Goldman Sachs Group dropped their price target on shares of KeyCorp from $27.00 to $23.00 and set a “buy” rating for the company in a research note on Tuesday, May 31st. Wedbush increased their price objective on shares of KeyCorp to $21.00 in a research report on Friday, July 22nd. Finally, JPMorgan Chase & Co. dropped their target price on shares of KeyCorp from $25.00 to $20.50 and set a “neutral” rating for the company in a report on Friday, July 1st. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $23.39.

KeyCorp Stock Performance

NYSE:KEY opened at $18.06 on Friday. The company has a fifty day simple moving average of $17.98 and a two-hundred day simple moving average of $21.00. The company has a market cap of $16.84 billion, a price-to-earnings ratio of 7.92, a price-to-earnings-growth ratio of 0.44 and a beta of 1.32. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.33. KeyCorp has a 52 week low of $16.41 and a 52 week high of $27.17.

KeyCorp (NYSE:KEYGet Rating) last posted its quarterly earnings results on Thursday, July 21st. The financial services provider reported $0.54 EPS for the quarter, topping the consensus estimate of $0.52 by $0.02. The business had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.76 billion. KeyCorp had a net margin of 28.53% and a return on equity of 15.01%. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.72 earnings per share. As a group, equities analysts anticipate that KeyCorp will post 2.23 earnings per share for the current fiscal year.

KeyCorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Tuesday, August 30th will be given a dividend of $0.195 per share. The ex-dividend date is Monday, August 29th. This represents a $0.78 annualized dividend and a dividend yield of 4.32%. KeyCorp’s dividend payout ratio (DPR) is currently 34.21%.

About KeyCorp

(Get Rating)

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, investment, cash management, portfolio management, and trust and related services to individuals and small and medium-sized businesses.

Featured Stories

Want to see what other hedge funds are holding KEY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for KeyCorp (NYSE:KEYGet Rating).

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.