Public Employees Retirement System of Ohio Decreases Holdings in KeyCorp (NYSE:KEY)

Public Employees Retirement System of Ohio lowered its stake in KeyCorp (NYSE:KEY) by 1.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 346,339 shares of the financial services provider’s stock after selling 6,551 shares during the period. Public Employees Retirement System of Ohio’s holdings in KeyCorp were worth $5,801,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Wolff Wiese Magana LLC lifted its stake in shares of KeyCorp by 285.5% in the 3rd quarter. Wolff Wiese Magana LLC now owns 1,542 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 1,142 shares during the last quarter. American Capital Advisory LLC bought a new stake in KeyCorp in the third quarter worth $28,000. Larson Financial Group LLC lifted its position in KeyCorp by 90.8% in the third quarter. Larson Financial Group LLC now owns 1,929 shares of the financial services provider’s stock worth $32,000 after buying an additional 918 shares during the last quarter. Catalyst Capital Advisors LLC bought a new position in KeyCorp during the third quarter valued at $35,000. Finally, Capital Performance Advisors LLP purchased a new stake in shares of KeyCorp in the third quarter valued at $38,000. 79.69% of the stock is owned by institutional investors.

Insider Activity

In other KeyCorp news, insider Angela G. Mago sold 15,011 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $19.59, for a total transaction of $294,065.49. Following the transaction, the insider now owns 234,582 shares in the company, valued at approximately $4,595,461.38. This represents a 6.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Carlton L. Highsmith sold 9,000 shares of KeyCorp stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $17.14, for a total transaction of $154,260.00. Following the sale, the director now owns 37,864 shares of the company’s stock, valued at $648,988.96. The trade was a 19.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.61% of the company’s stock.

KeyCorp Trading Up 0.4 %

Shares of NYSE KEY opened at $18.13 on Friday. KeyCorp has a 1-year low of $12.94 and a 1-year high of $20.04. The business has a fifty day moving average price of $18.24 and a 200 day moving average price of $16.36. The stock has a market capitalization of $17.97 billion, a P/E ratio of 1,813.00, a price-to-earnings-growth ratio of 1.01 and a beta of 1.25. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.88 and a quick ratio of 0.88.

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

KeyCorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders 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 dividend yield of 4.52%. The ex-dividend date was Tuesday, December 3rd. KeyCorp’s payout ratio is presently 8,200.00%.

Wall Street Analyst Weigh In

KEY has been the subject of a number of recent analyst reports. Barclays upped their price target on shares of KeyCorp from $16.00 to $19.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. Robert W. Baird cut KeyCorp from an “outperform” rating to a “neutral” rating and cut their target price for the company from $18.00 to $17.00 in a research note on Monday, October 14th. Keefe, Bruyette & Woods raised their price target on KeyCorp from $19.00 to $22.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Royal Bank of Canada upped their price objective on KeyCorp from $17.00 to $18.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. Finally, Wells Fargo & Company lifted their target price on KeyCorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Nine analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.16.

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; 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.