Public Sector Pension Investment Board Has $2.27 Million Holdings in KeyCorp (NYSE:KEY)

Public Sector Pension Investment Board increased its stake in shares of KeyCorp (NYSE:KEY) by 8.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 159,883 shares of the financial services provider’s stock after acquiring an additional 12,575 shares during the period. Public Sector Pension Investment Board’s holdings in KeyCorp were worth $2,272,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in KEY. Pathway Financial Advisers LLC bought a new stake in shares of KeyCorp during the 1st quarter worth approximately $25,000. Crewe Advisors LLC acquired a new stake in KeyCorp in the first quarter valued at $32,000. Quarry LP bought a new position in shares of KeyCorp in the 4th quarter valued at about $38,000. Fidelis Capital Partners LLC acquired a new position in shares of KeyCorp during the 1st quarter worth about $39,000. Finally, Centerpoint Advisors LLC raised its holdings in shares of KeyCorp by 127.7% in the 1st quarter. Centerpoint Advisors LLC now owns 3,757 shares of the financial services provider’s stock valued at $59,000 after purchasing an additional 2,107 shares during the period. 79.69% of the stock is owned by institutional investors.

KeyCorp Trading Up 0.4 %

NYSE:KEY opened at $16.61 on Monday. KeyCorp has a 12 month low of $9.50 and a 12 month high of $17.39. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.37. The company has a 50-day moving average price of $16.13 and a 200-day moving average price of $15.16. The stock has a market cap of $15.66 billion, a price-to-earnings ratio of 21.03, a P/E/G ratio of 0.92 and a beta of 1.25.

KeyCorp (NYSE:KEY) last released its earnings results on Thursday, July 18th. The financial services provider reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.52 billion. KeyCorp had a return on equity of 8.64% and a net margin of 7.35%. The company’s quarterly revenue was down 4.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.27 earnings per share. Equities analysts predict that KeyCorp will post 1.09 EPS for the current year.

KeyCorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Tuesday, August 27th were paid a $0.205 dividend. The ex-dividend date was Tuesday, August 27th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.94%. KeyCorp’s dividend payout ratio is presently 103.80%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on KEY shares. Citigroup boosted their target price on KeyCorp from $18.00 to $19.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th. DA Davidson increased their price objective on shares of KeyCorp from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $18.00 target price on shares of KeyCorp in a report on Tuesday, September 10th. Royal Bank of Canada reissued an “outperform” rating and issued a $17.00 price target on shares of KeyCorp in a report on Tuesday, August 13th. Finally, UBS Group cut KeyCorp from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $16.00 to $15.00 in a report on Monday, July 8th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, KeyCorp presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.71.

Insider Transactions at KeyCorp

In other KeyCorp news, Director Carlton L. Highsmith sold 10,000 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $16.21, for a total transaction of $162,100.00. Following the completion of the sale, the director now directly owns 46,864 shares in the company, valued at approximately $759,665.44. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.61% of the company’s stock.

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.