KeyCorp (KEY) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas lessened its position in KeyCorp (NYSE:KEY) by 19.2% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 237,965 shares of the financial services provider’s stock after selling 56,681 shares during the quarter. Teacher Retirement System of Texas’ holdings in KeyCorp were worth $4,652,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of KEY. Boston Partners raised its holdings in shares of KeyCorp by 37.6% in the 4th quarter. Boston Partners now owns 26,045,044 shares of the financial services provider’s stock valued at $525,329,000 after buying an additional 7,123,113 shares during the period. Eaton Vance Management raised its holdings in shares of KeyCorp by 77.6% in the 4th quarter. Eaton Vance Management now owns 11,100,824 shares of the financial services provider’s stock valued at $223,904,000 after buying an additional 4,850,008 shares during the period. Two Sigma Investments LP raised its holdings in shares of KeyCorp by 24,671.7% in the 4th quarter. Two Sigma Investments LP now owns 2,948,598 shares of the financial services provider’s stock valued at $59,473,000 after buying an additional 2,960,598 shares during the period. Renaissance Technologies LLC purchased a new stake in shares of KeyCorp in the 4th quarter valued at $49,676,000. Finally, Thrivent Financial for Lutherans raised its holdings in shares of KeyCorp by 38.0% in the 1st quarter. Thrivent Financial for Lutherans now owns 8,108,123 shares of the financial services provider’s stock valued at $158,514,000 after buying an additional 2,231,623 shares during the period. Hedge funds and other institutional investors own 80.06% of the company’s stock.

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KEY has been the topic of several research analyst reports. Zacks Investment Research downgraded KeyCorp from a “buy” rating to a “hold” rating in a report on Tuesday, February 13th. ValuEngine downgraded KeyCorp from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. Morgan Stanley boosted their price objective on KeyCorp from $24.50 to $25.00 and gave the company an “overweight” rating in a report on Tuesday, April 24th. Vining Sparks reiterated a “buy” rating and issued a $25.00 price objective on shares of KeyCorp in a report on Friday, April 6th. Finally, Susquehanna Bancshares upgraded KeyCorp from a “neutral” rating to a “positive” rating and boosted their price objective for the company from $24.00 to $25.00 in a report on Tuesday, April 24th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $22.45.

In other news, insider Edward J. Burke sold 10,000 shares of the company’s stock in a transaction dated Tuesday, May 8th. The stock was sold at an average price of $19.83, for a total transaction of $198,300.00. Following the completion of the transaction, the insider now directly owns 126,526 shares of the company’s stock, valued at approximately $2,509,010.58. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.65% of the company’s stock.

Shares of KeyCorp opened at $20.04 on Friday, according to MarketBeat.com. The company has a current ratio of 0.89, a quick ratio of 0.87 and a debt-to-equity ratio of 0.99. KeyCorp has a 1-year low of $16.28 and a 1-year high of $22.40. The stock has a market cap of $21.70 billion, a price-to-earnings ratio of 14.29, a P/E/G ratio of 1.27 and a beta of 1.05.

KeyCorp (NYSE:KEY) last issued its quarterly earnings results on Thursday, April 19th. The financial services provider reported $0.38 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.38. KeyCorp had a return on equity of 11.03% and a net margin of 19.32%. The company had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter in the prior year, the business earned $0.32 EPS. KeyCorp’s revenue was up 3.1% on a year-over-year basis. research analysts expect that KeyCorp will post 1.7 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Stockholders of record on Tuesday, May 29th will be given a dividend of $0.12 per share. This is a boost from KeyCorp’s previous quarterly dividend of $0.11. This represents a $0.48 annualized dividend and a dividend yield of 2.40%. The ex-dividend date of this dividend is Friday, May 25th. KeyCorp’s dividend payout ratio is currently 30.88%.

KeyCorp Profile

KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking services in the United States. The company's Key Community Bank segment offers various deposit and investment products, personal finance services, residential mortgages, home equity loans, credit cards, and installment loans, as well as personal property and casualty insurance, such as home, auto, renters, watercraft, and umbrella insurance for individuals.

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