KeyCorp (NYSE:KEY) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama decreased its holdings in shares of KeyCorp (NYSE:KEY) by 3.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 201,106 shares of the financial services provider’s stock after selling 6,877 shares during the period. Retirement Systems of Alabama’s holdings in KeyCorp were worth $3,369,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in KEY. Financial Advocates Investment Management raised its stake in KeyCorp by 2.3% during the 3rd quarter. Financial Advocates Investment Management now owns 26,872 shares of the financial services provider’s stock valued at $450,000 after acquiring an additional 602 shares during the last quarter. HM Payson & Co. raised its stake in shares of KeyCorp by 27.0% during the third quarter. HM Payson & Co. now owns 3,060 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 650 shares during the last quarter. Graypoint LLC lifted its holdings in shares of KeyCorp by 4.7% during the third quarter. Graypoint LLC now owns 14,954 shares of the financial services provider’s stock worth $250,000 after purchasing an additional 675 shares during the period. Vontobel Holding Ltd. grew its position in KeyCorp by 2.1% in the 3rd quarter. Vontobel Holding Ltd. now owns 33,728 shares of the financial services provider’s stock valued at $565,000 after buying an additional 679 shares during the last quarter. Finally, Empirical Finance LLC increased its stake in KeyCorp by 2.2% in the 3rd quarter. Empirical Finance LLC now owns 32,361 shares of the financial services provider’s stock valued at $542,000 after buying an additional 705 shares during the period. Hedge funds and other institutional investors own 79.69% of the company’s stock.

KeyCorp Stock Performance

Shares of KEY opened at $16.81 on Friday. The company has a 50-day moving average of $18.29 and a two-hundred day moving average of $16.45. The stock has a market cap of $16.66 billion, a P/E ratio of 1,681.00, a PEG ratio of 1.00 and a beta of 1.25. KeyCorp has a 12-month low of $12.94 and a 12-month high of $20.04. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.09.

KeyCorp (NYSE:KEY) last posted its earnings results on Thursday, October 17th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.03. The firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.59 billion. KeyCorp had a return on equity of 8.24% and a net margin of 0.76%. As a group, research analysts predict that KeyCorp will post 1.09 EPS for the current fiscal year.

KeyCorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Tuesday, December 3rd were given a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 4.88%. The ex-dividend date of this dividend was Tuesday, December 3rd. KeyCorp’s dividend payout ratio is presently 8,200.00%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on KEY. Piper Sandler raised their target price on shares of KeyCorp from $19.00 to $22.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Evercore ISI raised their price objective on shares of KeyCorp from $18.50 to $20.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Baird R W cut KeyCorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 14th. UBS Group raised their price target on KeyCorp from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Finally, Wedbush upped their price objective on KeyCorp from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Tuesday, September 24th. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, KeyCorp currently has an average rating of “Moderate Buy” and an average price target of $19.16.

Insider Buying and Selling

In other KeyCorp news, Director Carlton L. Highsmith sold 9,000 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $17.14, for a total value of $154,260.00. Following the sale, the director now directly owns 37,864 shares of the company’s stock, valued at approximately $648,988.96. This trade represents a 19.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Angela G. Mago sold 15,011 shares of KeyCorp stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $19.59, for a total value of $294,065.49. Following the completion of the sale, the insider now owns 234,582 shares of the company’s stock, valued at $4,595,461.38. This trade represents a 6.01 % decrease in their position. The disclosure for this sale can be found here. 0.67% of the stock is owned by company insiders.

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.