KeyCorp $KEY Position Lifted by Retirement Systems of Alabama

Retirement Systems of Alabama raised its stake in KeyCorp (NYSE:KEY) by 707.9% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 1,729,358 shares of the financial services provider’s stock after purchasing an additional 1,515,303 shares during the period. Retirement Systems of Alabama owned 0.16% of KeyCorp worth $30,125,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. increased its holdings in KeyCorp by 7.2% in the first quarter. Vanguard Group Inc. now owns 125,345,385 shares of the financial services provider’s stock valued at $2,004,273,000 after buying an additional 8,412,625 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of KeyCorp by 40.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 50,954,013 shares of the financial services provider’s stock valued at $814,756,000 after acquiring an additional 14,651,281 shares during the last quarter. Fuller & Thaler Asset Management Inc. raised its position in shares of KeyCorp by 12.2% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 30,511,720 shares of the financial services provider’s stock valued at $487,882,000 after acquiring an additional 3,327,972 shares in the last quarter. Invesco Ltd. lifted its stake in KeyCorp by 19.5% during the first quarter. Invesco Ltd. now owns 20,623,929 shares of the financial services provider’s stock worth $329,777,000 after purchasing an additional 3,363,421 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in KeyCorp by 2.9% in the first quarter. Dimensional Fund Advisors LP now owns 11,201,253 shares of the financial services provider’s stock worth $179,084,000 after purchasing an additional 319,019 shares during the period. Institutional investors own 79.69% of the company’s stock.

KeyCorp Price Performance

Shares of KEY opened at $17.50 on Friday. KeyCorp has a one year low of $12.73 and a one year high of $20.04. The stock’s fifty day moving average is $18.46 and its 200-day moving average is $17.31. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 0.83. The firm has a market capitalization of $19.19 billion, a price-to-earnings ratio of 21.60, a price-to-earnings-growth ratio of 0.52 and a beta of 1.15.

KeyCorp (NYSE:KEY) last announced its earnings results on Thursday, October 16th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.03. KeyCorp had a net margin of 10.08% and a return on equity of 10.14%. The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same quarter in the prior year, the firm posted ($0.47) EPS. KeyCorp’s revenue was up 172.7% compared to the same quarter last year. Equities analysts anticipate that KeyCorp will post 1.5 EPS for the current year.

Analyst Ratings Changes

KEY has been the topic of a number of recent research reports. Jefferies Financial Group reduced their price target on shares of KeyCorp from $20.00 to $18.00 and set a “hold” rating on the stock in a research report on Friday, October 17th. TD Cowen raised their price target on KeyCorp from $20.00 to $21.00 and gave the stock a “hold” rating in a report on Friday, October 3rd. Keefe, Bruyette & Woods upped their price objective on KeyCorp from $20.50 to $21.00 and gave the stock an “outperform” rating in a research note on Friday, October 10th. Weiss Ratings reissued a “hold (c)” rating on shares of KeyCorp in a report on Wednesday, October 8th. Finally, Wells Fargo & Company upped their price target on shares of KeyCorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Friday, October 3rd. Ten equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $20.75.

Insider Buying and Selling

In related news, insider Andrew J. Paine III sold 44,953 shares of the business’s stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $19.29, for a total transaction of $867,143.37. Following the sale, the insider owned 245,044 shares of the company’s stock, valued at $4,726,898.76. The trade was a 15.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.52% of the stock is currently owned by insiders.

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.