KeyCorp $KEY Shares Purchased by New York State Teachers Retirement System

New York State Teachers Retirement System lifted its stake in KeyCorp (NYSE:KEY) by 11.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 850,671 shares of the financial services provider’s stock after purchasing an additional 89,546 shares during the quarter. New York State Teachers Retirement System’s holdings in KeyCorp were worth $17,558,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in KEY. Brighton Jones LLC acquired a new stake in KeyCorp during the 4th quarter worth approximately $476,000. Woodline Partners LP raised its holdings in shares of KeyCorp by 41.4% in the 1st quarter. Woodline Partners LP now owns 84,156 shares of the financial services provider’s stock valued at $1,346,000 after purchasing an additional 24,627 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of KeyCorp by 58.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,148 shares of the financial services provider’s stock valued at $90,000 after purchasing an additional 1,890 shares in the last quarter. Cresset Asset Management LLC raised its holdings in shares of KeyCorp by 6.5% in the 2nd quarter. Cresset Asset Management LLC now owns 15,097 shares of the financial services provider’s stock valued at $263,000 after purchasing an additional 926 shares in the last quarter. Finally, Federated Hermes Inc. acquired a new stake in shares of KeyCorp in the 2nd quarter valued at $186,000. 79.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at KeyCorp

In other KeyCorp news, insider Andrew J. Paine III sold 65,961 shares of the firm’s stock in a transaction on Friday, February 6th. The shares were sold at an average price of $23.23, for a total transaction of $1,532,274.03. Following the transaction, the insider directly owned 166,583 shares of the company’s stock, valued at approximately $3,869,723.09. This trade represents a 28.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.56% of the company’s stock.

KeyCorp Price Performance

KEY stock opened at $21.89 on Friday. KeyCorp has a twelve month low of $15.14 and a twelve month high of $23.34. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $23.49 billion, a P/E ratio of 13.43, a PEG ratio of 0.70 and a beta of 1.06. The business has a 50 day simple moving average of $20.69 and a 200-day simple moving average of $20.15.

KeyCorp (NYSE:KEY) last issued its quarterly earnings data on Thursday, April 16th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.03. KeyCorp had a net margin of 17.03% and a return on equity of 10.80%. The company had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.93 billion. During the same period last year, the firm posted $0.38 EPS. KeyCorp’s revenue for the quarter was up 10.2% on a year-over-year basis. As a group, equities analysts anticipate that KeyCorp will post 1.82 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on KEY shares. Weiss Ratings upgraded shares of KeyCorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, February 25th. Jefferies Financial Group raised their price objective on shares of KeyCorp from $21.00 to $23.00 and gave the company a “hold” rating in a report on Friday, April 17th. Barclays raised their price objective on shares of KeyCorp from $20.00 to $24.00 and gave the company an “equal weight” rating in a report on Monday, January 5th. Argus raised their price objective on shares of KeyCorp from $21.00 to $25.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. Finally, JPMorgan Chase & Co. reduced their price objective on shares of KeyCorp from $24.50 to $22.50 and set a “neutral” rating on the stock in a report on Tuesday, April 7th. Twelve research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, KeyCorp has an average rating of “Moderate Buy” and a consensus target price of $23.13.

KeyCorp Company 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.