KeyCorp (KEY) Shares Bought by California Public Employees Retirement System

California Public Employees Retirement System boosted its position in KeyCorp (NYSE:KEY) by 0.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,407,385 shares of the financial services provider’s stock after buying an additional 4,216 shares during the quarter. California Public Employees Retirement System’s holdings in KeyCorp were worth $37,916,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Alpha Omega Wealth Management LLC acquired a new position in KeyCorp in the 1st quarter valued at $25,000. Bruderman Asset Management LLC acquired a new position in KeyCorp in the 4th quarter valued at $26,000. First Interstate Bank grew its stake in KeyCorp by 853.0% in the 4th quarter. First Interstate Bank now owns 2,049 shares of the financial services provider’s stock valued at $30,000 after buying an additional 1,834 shares during the last quarter. Executive Wealth Management LLC bought a new stake in KeyCorp in the 4th quarter valued at $36,000. Finally, Lindbrook Capital LLC bought a new stake in KeyCorp in the 4th quarter valued at $41,000. Institutional investors and hedge funds own 80.92% of the company’s stock.

In other news, insider Angela G. Mago sold 4,162 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $17.33, for a total transaction of $72,127.46. Following the completion of the transaction, the insider now directly owns 128,464 shares of the company’s stock, valued at approximately $2,226,281.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Robert A. Deangelis sold 31,166 shares of the firm’s stock in a transaction dated Friday, February 15th. The stock was sold at an average price of $17.37, for a total transaction of $541,353.42. Following the transaction, the insider now directly owns 196,478 shares of the company’s stock, valued at $3,412,822.86. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by company insiders.

A number of analysts have weighed in on the stock. ValuEngine downgraded shares of KeyCorp from a “sell” rating to a “strong sell” rating in a report on Friday, March 22nd. Jefferies Financial Group increased their price target on shares of KeyCorp from $20.00 to $18.50 and gave the company a “buy” rating in a report on Monday, May 6th. Wood & Company reissued an “average” rating and issued a $38.00 price target on shares of KeyCorp in a report on Thursday. CIBC reissued an “average” rating on shares of KeyCorp in a report on Monday, February 4th. Finally, JPMorgan Chase & Co. downgraded shares of KeyCorp from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $18.00 to $17.00 in a report on Thursday, April 4th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and ten have issued a buy rating to the stock. KeyCorp currently has a consensus rating of “Hold” and an average target price of $22.77.

NYSE:KEY opened at $16.92 on Thursday. The stock has a market cap of $16.67 billion, a PE ratio of 9.78, a price-to-earnings-growth ratio of 1.17 and a beta of 1.23. KeyCorp has a 52 week low of $13.65 and a 52 week high of $21.91. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 0.98.

KeyCorp (NYSE:KEY) last released its quarterly earnings data on Thursday, April 18th. The financial services provider reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.02). The business had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.60 billion. KeyCorp had a return on equity of 13.16% and a net margin of 24.18%. KeyCorp’s revenue was down 2.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.38 earnings per share. On average, equities research analysts expect that KeyCorp will post 1.81 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Tuesday, May 28th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.02%. KeyCorp’s payout ratio is 39.31%.

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KeyCorp Company Profile

KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking services in the United States. The company's Key Community Bank segment offers various deposit and investment products, personal finance services, residential mortgages, home equity loans, credit cards, and installment loans.

Read More: Cost of Capital Explained

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Institutional Ownership by Quarter for KeyCorp (NYSE:KEY)

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