KeyCorp $KEY Stock Holdings Increased by Retirement Systems of Alabama

Retirement Systems of Alabama boosted its holdings in KeyCorp (NYSE:KEY) by 707.9% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 1,729,358 shares of the financial services provider’s stock after buying an additional 1,515,303 shares during the quarter. Retirement Systems of Alabama’s holdings in KeyCorp were worth $30,125,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD grew 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 worth $814,756,000 after acquiring an additional 14,651,281 shares during the last quarter. Vanguard Group Inc. increased its stake in KeyCorp by 7.2% in the 1st quarter. Vanguard Group Inc. now owns 125,345,385 shares of the financial services provider’s stock worth $2,004,273,000 after purchasing an additional 8,412,625 shares in the last quarter. Wellington Management Group LLP raised its holdings in KeyCorp by 1,142.4% during the 1st quarter. Wellington Management Group LLP now owns 5,001,779 shares of the financial services provider’s stock worth $79,978,000 after buying an additional 4,599,197 shares during the period. Alyeska Investment Group L.P. acquired a new position in shares of KeyCorp in the first quarter worth about $60,194,000. Finally, Invesco Ltd. increased its position in shares of KeyCorp by 19.5% in the first quarter. Invesco Ltd. now owns 20,623,929 shares of the financial services provider’s stock worth $329,777,000 after acquiring an additional 3,363,421 shares in the last quarter. Institutional investors own 79.69% of the company’s stock.

KeyCorp Stock Up 0.6%

Shares of KeyCorp stock opened at $17.50 on Friday. The firm has a market cap of $19.19 billion, a price-to-earnings ratio of 21.60, a P/E/G ratio of 0.52 and a beta of 1.15. The stock has a 50-day simple moving average of $18.46 and a 200-day simple moving average of $17.31. KeyCorp has a 52-week low of $12.73 and a 52-week high of $20.04. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.83 and a quick ratio of 0.83.

KeyCorp (NYSE:KEY) last issued its quarterly earnings data on Thursday, October 16th. The financial services provider reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.03. The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.87 billion. KeyCorp had a net margin of 10.08% and a return on equity of 10.14%. The company’s revenue for the quarter was up 172.7% on a year-over-year basis. During the same quarter last year, the firm earned ($0.47) earnings per share. On average, equities research analysts expect that KeyCorp will post 1.5 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Citigroup reiterated a “neutral” rating and set a $20.00 price objective (up from $19.00) on shares of KeyCorp in a research report on Thursday, July 24th. Royal Bank Of Canada upped their price target on KeyCorp from $19.00 to $20.00 and gave the company an “outperform” rating in a research report on Wednesday, October 1st. UBS Group raised their price objective on KeyCorp from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Tuesday, October 7th. Keefe, Bruyette & Woods lifted their target price on KeyCorp from $20.50 to $21.00 and gave the company an “outperform” rating in a research note on Friday, October 10th. Finally, JPMorgan Chase & Co. increased their price target on shares of KeyCorp from $19.00 to $19.50 and gave the stock a “neutral” rating in a research report on Friday, October 10th. Ten investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $20.75.

Insider Buying and Selling at KeyCorp

In related news, insider Andrew J. Paine III sold 44,953 shares of KeyCorp stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $19.29, for a total value of $867,143.37. Following the completion of the sale, the insider owned 245,044 shares of the company’s stock, valued at approximately $4,726,898.76. The trade was a 15.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.52% of the company’s stock.

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.