Illinois Municipal Retirement Fund Invests $936,000 in KeyCorp $KEY

Illinois Municipal Retirement Fund acquired a new stake in shares of KeyCorp (NYSE:KEY) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 46,692 shares of the financial services provider’s stock, valued at approximately $936,000.

A number of other institutional investors have also made changes to their positions in the stock. DV Equities LLC acquired a new stake in KeyCorp in the 4th quarter worth approximately $27,000. Maseco LLP acquired a new position in KeyCorp during the fourth quarter valued at approximately $27,000. Smithfield Trust Co acquired a new position in KeyCorp during the fourth quarter valued at approximately $31,000. True Wealth Design LLC raised its position in shares of KeyCorp by 1,263.5% in the fourth quarter. True Wealth Design LLC now owns 1,718 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 1,592 shares during the period. Finally, Kelleher Financial Advisors bought a new position in shares of KeyCorp in the third quarter valued at approximately $32,000. 79.69% of the stock is owned by institutional investors.

More KeyCorp News

Here are the key news stories impacting KeyCorp this week:

• Positive Sentiment: KeyCorp beat Q2 earnings estimates, reporting $0.44 per share versus $0.42 expected, while revenue came in at $1.96 billion and net income rose 26% year over year. The results were supported by higher net interest income, stronger fee income, loan growth, and lower provisions. Article KeyCorp Reports Second Quarter 2026 Net Income
• Positive Sentiment: Analysts are raising their outlooks after the earnings beat. Bank of America Securities reiterated a Buy rating with a $26 price target, Keefe, Bruyette & Woods raised its target to $26 and kept an Outperform rating, and other firms also lifted estimates, signaling improving sentiment around the bank’s earnings trajectory. Article Buy Rating Reaffirmed
• Positive Sentiment: Management highlighted momentum in growth initiatives such as investment banking, commercial payments, and wealth management, with pipelines and fee growth improving. That suggests the earnings beat may not be a one-quarter event. Article KeyCorp Expands US Middle Market Footprint and Targets European M&A
• Neutral Sentiment: Not all commentary was bullish: Morgan Stanley kept a Hold rating, and one analyst noted that weaker noninterest income and margin pressure could limit upside, even though loan growth remains supportive. Article Hold Rating Reiterated

KeyCorp Trading Up 0.6%

Shares of KeyCorp stock opened at $23.09 on Thursday. KeyCorp has a 1 year low of $16.47 and a 1 year high of $24.07. The company’s fifty day simple moving average is $22.41 and its 200-day simple moving average is $21.58. The company has a market cap of $24.92 billion, a price-to-earnings ratio of 13.42, a PEG ratio of 0.72 and a beta of 1.02. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.63.

KeyCorp (NYSE:KEY) last released its earnings results on Tuesday, July 21st. The financial services provider reported $0.44 EPS for the quarter, beating the consensus estimate of $0.42 by $0.02. KeyCorp had a net margin of 17.83% and a return on equity of 11.23%. The firm had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.97 billion. During the same period in the prior year, the company earned $0.35 EPS. The business’s quarterly revenue was up 6.7% compared to the same quarter last year. As a group, sell-side analysts expect that KeyCorp will post 1.82 EPS for the current year.

KeyCorp declared that its board has approved a stock repurchase plan on Wednesday, May 13th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the financial services provider to buy up to 13% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

KeyCorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be issued a dividend of $0.205 per share. The ex-dividend date is Tuesday, September 1st. This represents a $0.82 annualized dividend and a dividend yield of 3.6%. KeyCorp’s payout ratio is presently 50.31%.

Insider Activity at KeyCorp

In related news, insider Angela G. Mago sold 22,826 shares of the stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $21.66, for a total value of $494,411.16. Following the completion of the sale, the insider owned 281,564 shares in the company, valued at approximately $6,098,676.24. This trade represents a 7.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.56% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Keefe, Bruyette & Woods upped their price objective on shares of KeyCorp from $25.00 to $26.00 and gave the stock an “outperform” rating in a report on Wednesday. UBS Group lifted their target price on shares of KeyCorp from $25.00 to $27.00 and gave the stock a “buy” rating in a report on Tuesday, July 7th. The Goldman Sachs Group boosted their target price on shares of KeyCorp from $25.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, April 17th. JPMorgan Chase & Co. upped their price target on shares of KeyCorp from $22.50 to $24.50 and gave the company a “neutral” rating in a report on Monday, July 6th. Finally, Morgan Stanley raised their price target on KeyCorp from $24.00 to $25.00 and gave the company an “equal weight” rating in a research report on Monday, June 29th. Thirteen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, KeyCorp currently has a consensus rating of “Moderate Buy” and an average target price of $47.61.

About KeyCorp

KeyCorp is a bank holding company headquartered in Cleveland, Ohio, that operates through its primary banking subsidiary, KeyBank. It provides a broad range of banking and financial services to individual consumers, small businesses, middle-market companies and large corporations. KeyBank’s offerings span traditional deposit and lending products as well as more specialized financial solutions designed for commercial and institutional clients.

The company’s product and service mix includes retail banking products such as checking and savings accounts, consumer and residential mortgage lending, and auto financing.