State of New Jersey Common Pension Fund D Has $3.81 Million Holdings in KeyCorp (NYSE:KEY)

State of New Jersey Common Pension Fund D decreased its holdings in KeyCorp (NYSE:KEY) by 43.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 268,121 shares of the financial services provider’s stock after selling 204,202 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in KeyCorp were worth $3,810,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Aigen Investment Management LP bought a new stake in shares of KeyCorp in the fourth quarter worth $1,556,000. Freestone Capital Holdings LLC bought a new stake in KeyCorp during the first quarter valued at $561,000. Assenagon Asset Management S.A. boosted its position in KeyCorp by 87.5% during the second quarter. Assenagon Asset Management S.A. now owns 1,308,797 shares of the financial services provider’s stock valued at $18,598,000 after acquiring an additional 610,688 shares during the last quarter. Commerce Bank boosted its position in KeyCorp by 399.7% during the first quarter. Commerce Bank now owns 456,136 shares of the financial services provider’s stock valued at $7,212,000 after acquiring an additional 364,850 shares during the last quarter. Finally, Cibc World Markets Corp boosted its position in KeyCorp by 44.4% during the fourth quarter. Cibc World Markets Corp now owns 217,122 shares of the financial services provider’s stock valued at $3,127,000 after acquiring an additional 66,806 shares during the last quarter. Institutional investors own 79.69% of the company’s stock.

KeyCorp Trading Up 1.8 %

NYSE:KEY opened at $16.57 on Wednesday. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a market cap of $15.63 billion, a price-to-earnings ratio of 20.97, a price-to-earnings-growth ratio of 0.89 and a beta of 1.25. KeyCorp has a 52 week low of $9.50 and a 52 week high of $17.20. The firm has a 50-day moving average price of $15.93 and a two-hundred day moving average price of $15.06.

KeyCorp (NYSE:KEY) last posted its quarterly earnings data on Thursday, July 18th. The financial services provider reported $0.25 EPS for the quarter, beating the consensus estimate of $0.24 by $0.01. The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.52 billion. KeyCorp had a net margin of 7.35% and a return on equity of 8.64%. The company’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter last year, the business posted $0.27 EPS. On average, equities analysts expect that KeyCorp will post 1.09 earnings per share for the current fiscal year.

KeyCorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders 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 annualized dividend and a yield of 4.95%. KeyCorp’s dividend payout ratio (DPR) is 103.80%.

Insider Buying and Selling at KeyCorp

In other news, Director Carlton L. Highsmith sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were 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 owns 46,864 shares in the company, valued at approximately $759,665.44. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $18.00 price target on shares of KeyCorp in a research report on Tuesday, September 10th. DA Davidson upped their price target 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. Jefferies Financial Group increased their price objective on shares of KeyCorp from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Monday, August 19th. UBS Group cut shares of KeyCorp from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $16.00 to $15.00 in a research report on Monday, July 8th. Finally, Morgan Stanley increased their price objective on shares of KeyCorp from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.65.

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.