Louisiana State Employees Retirement System Sells 1,000 Shares of KeyCorp (NYSE:KEY)

Louisiana State Employees Retirement System reduced its position in shares of KeyCorp (NYSE:KEY) by 1.7% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 59,500 shares of the financial services provider’s stock after selling 1,000 shares during the quarter. Louisiana State Employees Retirement System’s holdings in KeyCorp were worth $1,286,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. South State Corp bought a new stake in shares of KeyCorp in the second quarter worth approximately $29,000. Evermay Wealth Management LLC bought a new stake in shares of KeyCorp in the second quarter worth approximately $37,000. Pflug Koory LLC bought a new stake in shares of KeyCorp in the second quarter worth approximately $46,000. Dark Forest Capital Management LP bought a new stake in shares of KeyCorp in the second quarter worth approximately $50,000. Finally, First Command Bank grew its stake in shares of KeyCorp by 111.8% in the second quarter. First Command Bank now owns 2,582 shares of the financial services provider’s stock worth $53,000 after acquiring an additional 1,363 shares during the period. Institutional investors and hedge funds own 80.45% of the company’s stock.

In other news, insider Amy G. Brady sold 66,549 shares of the business’s stock in a transaction on Friday, October 22nd. The shares were sold at an average price of $24.18, for a total value of $1,609,154.82. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jamie Warder sold 3,112 shares of the business’s stock in a transaction on Friday, September 10th. The stock was sold at an average price of $19.97, for a total transaction of $62,146.64. The disclosure for this sale can be found here. Insiders sold 89,943 shares of company stock worth $2,148,344 in the last three months. Insiders own 0.56% of the company’s stock.

A number of analysts have recently commented on the stock. Royal Bank of Canada reduced their price target on shares of KeyCorp from $36.00 to $34.00 and set an “outperform” rating for the company in a research note on Thursday, November 4th. Wedbush raised their price objective on shares of KeyCorp from $27.00 to $29.00 and gave the stock an “outperform” rating in a report on Friday, October 22nd. Morgan Stanley dropped their price objective on shares of KeyCorp from $26.00 to $25.00 and set an “equal weight” rating on the stock in a report on Monday, August 2nd. Stephens raised their price objective on shares of KeyCorp from $21.50 to $26.00 and gave the stock an “equal weight” rating in a report on Friday, October 22nd. Finally, Jefferies Financial Group raised their price objective on shares of KeyCorp from $25.00 to $27.00 and gave the stock a “buy” rating in a report on Monday, October 11th. Six equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $26.41.

Shares of NYSE:KEY opened at $23.96 on Thursday. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.83 and a quick ratio of 0.81. KeyCorp has a 1-year low of $15.25 and a 1-year high of $24.57. The company has a market capitalization of $22.31 billion, a P/E ratio of 9.36, a P/E/G ratio of 0.63 and a beta of 1.51. The firm’s 50 day simple moving average is $22.91 and its two-hundred day simple moving average is $21.62.

KeyCorp (NYSE:KEY) last issued its quarterly earnings results on Thursday, October 21st. The financial services provider reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.08. KeyCorp had a net margin of 33.07% and a return on equity of 15.47%. The business had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter in the previous year, the firm earned $0.41 earnings per share. The company’s revenue for the quarter was up 8.0% on a year-over-year basis. On average, sell-side analysts anticipate that KeyCorp will post 2.54 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 15th. Shareholders of record on Tuesday, November 30th will be issued a dividend of $0.195 per share. The ex-dividend date is Monday, November 29th. This represents a $0.78 annualized dividend and a yield of 3.26%. This is an increase from KeyCorp’s previous quarterly dividend of $0.19. KeyCorp’s payout ratio is currently 28.91%.

About KeyCorp

KeyCorp operates as bank holding company, which engages in the provision of financial services. it provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, student loan refinancing, commercial mortgage servicing and special servicing, and investment banking products and services to individual, corporate, and institutional clients.

Recommended Story: Diluted Earnings Per Share

Want to see what other hedge funds are holding KEY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for KeyCorp (NYSE:KEY).

Institutional Ownership by Quarter for KeyCorp (NYSE:KEY)

Receive News & Ratings for KeyCorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KeyCorp and related companies with MarketBeat.com's FREE daily email newsletter.