National Pension Service Raises Stock Holdings in KeyCorp $KEY

National Pension Service increased its stake in shares of KeyCorp (NYSE:KEY) by 30.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 198,659 shares of the financial services provider’s stock after purchasing an additional 46,509 shares during the quarter. National Pension Service’s holdings in KeyCorp were worth $3,713,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC acquired a new stake in shares of KeyCorp during the 4th quarter worth about $476,000. Woodline Partners LP lifted its stake in shares of KeyCorp by 41.4% during the first quarter. Woodline Partners LP now owns 84,156 shares of the financial services provider’s stock valued at $1,346,000 after buying an additional 24,627 shares during the period. Janney Montgomery Scott LLC boosted its position in KeyCorp by 17.8% during the second quarter. Janney Montgomery Scott LLC now owns 195,914 shares of the financial services provider’s stock worth $3,413,000 after acquiring an additional 29,652 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in KeyCorp by 6.3% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 130,639 shares of the financial services provider’s stock worth $2,276,000 after acquiring an additional 7,714 shares during the period. Finally, Ameritas Advisory Services LLC acquired a new position in KeyCorp in the 2nd quarter valued at $51,000. 79.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Evercore ISI raised their price objective on KeyCorp from $21.00 to $25.00 and gave the stock an “outperform” rating in a report on Tuesday, January 6th. DA Davidson set a $25.00 price target on KeyCorp in a research note on Wednesday, January 21st. Wells Fargo & Company set a $18.00 price objective on shares of KeyCorp and gave the company an “underperform” rating in a research note on Tuesday, January 6th. Royal Bank Of Canada increased their price objective on shares of KeyCorp from $20.00 to $22.00 and gave the stock an “outperform” rating in a report on Friday, December 12th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of KeyCorp from $21.00 to $24.00 and gave the company an “outperform” rating in a report on Wednesday, December 17th. Eleven investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, KeyCorp currently has an average rating of “Hold” and a consensus target price of $22.68.

KeyCorp Trading Up 1.6%

NYSE KEY opened at $22.35 on Wednesday. The firm has a market capitalization of $24.42 billion, a price-to-earnings ratio of 14.70, a PEG ratio of 0.54 and a beta of 1.10. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.82 and a current ratio of 0.83. KeyCorp has a one year low of $12.73 and a one year high of $22.46. The company’s 50 day moving average price is $20.68 and its 200 day moving average price is $19.08.

KeyCorp (NYSE:KEY) last released its quarterly earnings data on Tuesday, January 20th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.02. KeyCorp had a net margin of 15.97% and a return on equity of 10.28%. The company had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.95 billion. During the same quarter in the prior year, the business earned $0.30 earnings per share. The business’s quarterly revenue was up 131.8% compared to the same quarter last year. On average, sell-side analysts predict that KeyCorp will post 1.5 EPS for the current year.

KeyCorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Tuesday, March 3rd will be given a $0.205 dividend. The ex-dividend date of this dividend is Tuesday, March 3rd. This represents a $0.82 annualized dividend and a yield of 3.7%. KeyCorp’s dividend payout ratio (DPR) is 53.95%.

Insider Transactions at KeyCorp

In other news, insider Angela G. Mago sold 62,850 shares of the company’s stock in a transaction dated Thursday, January 29th. The stock was sold at an average price of $21.55, for a total value of $1,354,417.50. Following the completion of the sale, the insider owned 261,415 shares of the company’s stock, valued at $5,633,493.25. This represents a 19.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Trina M. Evans sold 32,695 shares of the stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $21.74, for a total value of $710,789.30. Following the completion of the sale, the director owned 58,719 shares of the company’s stock, valued at approximately $1,276,551.06. This trade represents a 35.77% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.52% of the company’s stock.

KeyCorp Profile

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.