KeyCorp (KEY) Holdings Lifted by New York State Common Retirement Fund

New York State Common Retirement Fund raised its stake in shares of KeyCorp (NYSE:KEY) by 2.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,521,792 shares of the financial services provider’s stock after buying an additional 49,800 shares during the quarter. New York State Common Retirement Fund owned about 0.23% of KeyCorp worth $47,460,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. AllSquare Wealth Management LLC purchased a new position in KeyCorp during the 3rd quarter valued at about $173,000. Tower Bridge Advisors grew its holdings in KeyCorp by 7.8% during the 3rd quarter. Tower Bridge Advisors now owns 708,631 shares of the financial services provider’s stock valued at $13,336,000 after buying an additional 51,145 shares in the last quarter. Retirement Systems of Alabama grew its holdings in shares of KeyCorp by 17.0% during the third quarter. Retirement Systems of Alabama now owns 2,033,527 shares of the financial services provider’s stock worth $38,271,000 after purchasing an additional 296,177 shares in the last quarter. Meridian Management Co. purchased a new position in shares of KeyCorp during the third quarter worth about $1,430,000. Finally, Sei Investments Co. grew its holdings in shares of KeyCorp by 42.3% during the third quarter. Sei Investments Co. now owns 522,886 shares of the financial services provider’s stock worth $9,841,000 after purchasing an additional 155,327 shares in the last quarter. 81.20% of the stock is owned by institutional investors and hedge funds.

KeyCorp (KEY) traded up $0.05 during trading hours on Thursday, reaching $19.38. The company had a trading volume of 10,170,200 shares, compared to its average volume of 10,996,497. The company has a market cap of $20,787.48, a P/E ratio of 14.64, a price-to-earnings-growth ratio of 1.76 and a beta of 1.10. KeyCorp has a one year low of $16.28 and a one year high of $19.93. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 1.06.

KeyCorp (NYSE:KEY) last released its earnings results on Thursday, October 19th. The financial services provider reported $0.35 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.35. The company had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.56 billion. KeyCorp had a return on equity of 10.35% and a net margin of 18.69%. KeyCorp’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.30 EPS. research analysts anticipate that KeyCorp will post 1.37 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Tuesday, November 28th will be given a $0.105 dividend. This is an increase from KeyCorp’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Monday, November 27th. This represents a $0.42 dividend on an annualized basis and a yield of 2.17%. KeyCorp’s payout ratio is presently 36.84%.

In other KeyCorp news, insider Andrew J. Paine III sold 46,854 shares of the business’s stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $18.56, for a total value of $869,610.24. Following the completion of the sale, the insider now owns 110,052 shares in the company, valued at $2,042,565.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Elizabeth R. Gile acquired 1,374 shares of the stock in a transaction on Wednesday, November 22nd. The stock was bought at an average price of $18.23 per share, with a total value of $25,048.02. Following the transaction, the director now directly owns 24,989 shares of the company’s stock, valued at approximately $455,549.47. The disclosure for this purchase can be found here. Insiders sold a total of 57,212 shares of company stock valued at $1,060,508 in the last 90 days. 0.65% of the stock is currently owned by corporate insiders.

Several research analysts have recently commented on the company. Wells Fargo & Company assumed coverage on KeyCorp in a report on Wednesday, August 9th. They set a “market perform” rating and a $19.00 price objective for the company. Sanford C. Bernstein reissued an “outperform” rating and set a $22.00 price objective on shares of KeyCorp in a report on Wednesday, September 27th. ValuEngine raised KeyCorp from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Zacks Investment Research lowered KeyCorp from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. Finally, Citigroup boosted their price objective on KeyCorp from $19.00 to $20.00 and gave the stock a “neutral” rating in a report on Monday, October 9th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $21.09.

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About KeyCorp

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.

Institutional Ownership by Quarter for KeyCorp (NYSE:KEY)

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