Teachers Retirement System of The State of Kentucky Sells 3,389 Shares of KeyCorp (NYSE:KEY)

Teachers Retirement System of The State of Kentucky trimmed its stake in shares of KeyCorp (NYSE:KEY) by 4.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 80,501 shares of the financial services provider’s stock after selling 3,389 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in KeyCorp were worth $1,159,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in KEY. Bruce G. Allen Investments LLC bought a new stake in shares of KeyCorp during the fourth quarter valued at about $26,000. Sound Income Strategies LLC increased its holdings in KeyCorp by 3,600.0% during the 4th quarter. Sound Income Strategies LLC now owns 1,887 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 1,836 shares during the period. Cary Street Partners Investment Advisory LLC purchased a new stake in KeyCorp in the 3rd quarter worth approximately $28,000. First United Bank & Trust bought a new position in KeyCorp in the 4th quarter valued at $29,000. Finally, Baldwin Brothers LLC MA purchased a new position in shares of KeyCorp during the 4th quarter valued at $35,000. Hedge funds and other institutional investors own 79.69% of the company’s stock.

Analysts Set New Price Targets

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

KeyCorp Price Performance

Shares of KeyCorp stock opened at $13.60 on Monday. The stock has a market capitalization of $12.82 billion, a P/E ratio of 17.22, a price-to-earnings-growth ratio of 0.69 and a beta of 1.28. KeyCorp has a one year low of $9.10 and a one year high of $15.86. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.87 and a quick ratio of 0.87. The business’s 50 day simple moving average is $14.44 and its two-hundred day simple moving average is $14.45.

KeyCorp (NYSE:KEY) last posted its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $1.51 billion. KeyCorp had a net margin of 7.53% and a return on equity of 8.89%. The company’s quarterly revenue was down 10.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.44 earnings per share. Analysts forecast that KeyCorp will post 1.13 EPS for the current year.

KeyCorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Tuesday, May 28th were issued 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 6.03%. KeyCorp’s dividend payout ratio is currently 103.80%.

About KeyCorp

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.