Alaska Permanent Fund Corp Sells 16,392 Shares of KeyCorp (NYSE:KEY)

Alaska Permanent Fund Corp trimmed its position in KeyCorp (NYSE:KEY) by 7.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 195,103 shares of the financial services provider’s stock after selling 16,392 shares during the period. Alaska Permanent Fund Corp’s holdings in KeyCorp were worth $3,085,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Nisa Investment Advisors LLC raised its holdings in KeyCorp by 8.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 273,010 shares of the financial services provider’s stock worth $3,931,000 after purchasing an additional 21,395 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of KeyCorp by 35.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 329,655 shares of the financial services provider’s stock worth $4,747,000 after acquiring an additional 86,579 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of KeyCorp by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 23,416,018 shares of the financial services provider’s stock worth $337,191,000 after acquiring an additional 289,258 shares in the last quarter. Aigen Investment Management LP acquired a new stake in shares of KeyCorp during the fourth quarter worth about $1,556,000. Finally, Miller Howard Investments Inc. NY acquired a new position in shares of KeyCorp in the 4th quarter valued at approximately $7,200,000. Institutional investors own 79.69% of the company’s stock.

KeyCorp Stock Performance

NYSE KEY opened at $13.64 on Friday. The firm has a 50-day moving average of $14.46 and a 200-day moving average of $14.43. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.87 and a current ratio of 0.87. The stock has a market cap of $12.86 billion, a PE ratio of 17.27, a P/E/G ratio of 0.68 and a beta of 1.28. KeyCorp has a 52-week low of $9.10 and a 52-week high of $15.86.

KeyCorp (NYSE:KEY) last issued its quarterly earnings data on Thursday, April 18th. The financial services provider reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.51 billion. KeyCorp had a net margin of 7.53% and a return on equity of 8.89%. The business’s quarterly revenue was down 10.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.44 earnings per share. On average, sell-side analysts anticipate that KeyCorp will post 1.13 EPS for the current year.

KeyCorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Tuesday, May 28th were given a dividend of $0.205 per share. The ex-dividend date was Friday, May 24th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 6.01%. KeyCorp’s payout ratio is presently 103.80%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Jefferies Financial Group lifted their price target on shares of KeyCorp from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Keefe, Bruyette & Woods boosted their price target on KeyCorp from $16.00 to $18.00 and gave the company an “outperform” rating in a report on Friday, April 5th. Evercore ISI upped their price target on KeyCorp from $17.00 to $18.00 and gave the stock an “outperform” rating in a research report on Thursday, March 28th. JPMorgan Chase & Co. cut their price objective on shares of KeyCorp from $18.00 to $17.50 and set a “neutral” rating on the stock in a research report on Friday, June 14th. Finally, Wells Fargo & Company raised their target price on shares of KeyCorp from $16.00 to $18.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $15.97.

KeyCorp Company 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.