Teacher Retirement System of Texas cut its holdings in KeyCorp (NYSE:KEY) by 81.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 294,646 shares of the financial services provider’s stock after selling 1,299,599 shares during the period. Teacher Retirement System of Texas’ holdings in KeyCorp were worth $5,943,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in KEY. Zions Bancorporation raised its position in KeyCorp by 2,277.5% in the 3rd quarter. Zions Bancorporation now owns 5,706 shares of the financial services provider’s stock worth $107,000 after purchasing an additional 5,466 shares during the period. Bank of Nova Scotia Trust Co. bought a new stake in KeyCorp in the 3rd quarter worth $132,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in KeyCorp in the 3rd quarter worth $145,000. AllSquare Wealth Management LLC bought a new stake in KeyCorp in the 3rd quarter worth $173,000. Finally, Connable Office Inc. bought a new stake in KeyCorp in the 3rd quarter worth $195,000. 81.08% of the stock is owned by institutional investors.
In other KeyCorp news, insider Christopher M. Gorman sold 56,038 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $20.97, for a total transaction of $1,175,116.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Craig A. Buffie sold 11,819 shares of the firm’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $21.21, for a total transaction of $250,680.99. Following the transaction, the insider now directly owns 51,791 shares of the company’s stock, valued at $1,098,487.11. The disclosure for this sale can be found here. 0.65% of the stock is owned by company insiders.
KeyCorp (KEY) traded up $0.20 during mid-day trading on Friday, reaching $20.73. 664,755 shares of the company traded hands, compared to its average volume of 10,036,969. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 1.02. KeyCorp has a 52 week low of $16.28 and a 52 week high of $22.22. The stock has a market cap of $22,504.22, a P/E ratio of 18.33, a PEG ratio of 1.33 and a beta of 1.04.
KeyCorp (NYSE:KEY) last issued its earnings results on Thursday, January 18th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.36. KeyCorp had a net margin of 18.06% and a return on equity of 10.66%. The company had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.58 billion. During the same period in the prior year, the business earned $0.31 EPS. analysts predict that KeyCorp will post 1.67 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Tuesday, February 27th will be issued a $0.105 dividend. This represents a $0.42 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date is Monday, February 26th. KeyCorp’s dividend payout ratio is currently 37.50%.
KEY has been the topic of a number of research reports. Zacks Investment Research lowered shares of KeyCorp from a “buy” rating to a “hold” rating and set a $23.00 target price on the stock. in a research note on Wednesday, January 3rd. DA Davidson lifted their target price on shares of KeyCorp to $26.00 and gave the stock a “buy” rating in a report on Friday, January 19th. Morgan Stanley reaffirmed an “overweight” rating and issued a $23.00 target price on shares of KeyCorp in a report on Thursday, December 14th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $21.50 target price on shares of KeyCorp in a report on Thursday, December 14th. Finally, ValuEngine raised shares of KeyCorp from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and eighteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $22.07.
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KeyCorp Company Profile
KeyCorp is a bank holding company. The Company is a bank-based financial services company. The Company operates through its subsidiary, KeyBank National Association (KeyBank), which is engaged in providing banking services. Through KeyBank and other subsidiaries, it provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, and investment banking products and services to individual, corporate and institutional clients.
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