California Public Employees Retirement System Has $24.24 Million Stock Holdings in KeyCorp (NYSE:KEY)

California Public Employees Retirement System trimmed its position in KeyCorp (NYSE:KEY) by 7.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,683,324 shares of the financial services provider’s stock after selling 129,349 shares during the period. California Public Employees Retirement System owned approximately 0.18% of KeyCorp worth $24,240,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of KEY. Nisa Investment Advisors LLC raised its holdings in KeyCorp by 8.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 273,010 shares of the financial services provider’s stock worth $3,931,000 after buying an additional 21,395 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in KeyCorp by 35.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 329,655 shares of the financial services provider’s stock worth $4,747,000 after buying an additional 86,579 shares during the period. Miller Howard Investments Inc. NY acquired a new stake in KeyCorp during the 4th quarter worth approximately $7,200,000. Fifth Third Bancorp raised its holdings in KeyCorp by 1.0% during the 4th quarter. Fifth Third Bancorp now owns 237,934 shares of the financial services provider’s stock worth $3,426,000 after buying an additional 2,344 shares during the period. Finally, Raymond James & Associates raised its holdings in KeyCorp by 44.1% during the 4th quarter. Raymond James & Associates now owns 1,610,148 shares of the financial services provider’s stock worth $23,186,000 after buying an additional 492,584 shares during the period. 79.69% of the stock is currently owned by institutional investors and hedge funds.

KeyCorp Stock Up 0.6 %

KEY opened at $14.70 on Monday. KeyCorp has a fifty-two week low of $8.53 and a fifty-two week high of $15.86. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.87 and a current ratio of 0.87. The company has a market capitalization of $13.63 billion, a P/E ratio of 18.61 and a beta of 1.29. The stock has a fifty day moving average of $14.76 and a 200-day moving average of $13.58.

KeyCorp (NYSE:KEY) last posted its earnings results on Thursday, April 18th. The financial services provider reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). KeyCorp had a return on equity of 8.89% and a net margin of 7.53%. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same period in the prior year, the business posted $0.44 EPS. The firm’s quarterly revenue was down 10.6% compared to the same quarter last year. On average, equities analysts expect that KeyCorp will post 1.15 EPS for the current year.

Wall Street Analyst Weigh In

KEY has been the topic of several research analyst reports. Wells Fargo & Company raised their target price on shares of KeyCorp from $16.00 to $18.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Argus raised their price target on shares of KeyCorp from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. JPMorgan Chase & Co. raised their price target on shares of KeyCorp from $16.00 to $18.00 and gave the stock a “neutral” rating in a research note on Thursday, April 4th. Piper Sandler raised their price target on shares of KeyCorp from $16.00 to $17.00 and gave the stock an “overweight” rating in a research note on Friday, January 26th. Finally, DA Davidson decreased their price target on shares of KeyCorp from $17.00 to $16.00 and set a “buy” rating for the company in a research note on Friday, January 19th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $15.71.

Insider Activity at KeyCorp

In related news, insider Kenneth C. Gavrity sold 2,376 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $14.03, for a total value of $33,335.28. Following the completion of the transaction, the insider now owns 98,120 shares of the company’s stock, valued at $1,376,623.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Kenneth C. Gavrity sold 2,376 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $14.03, for a total value of $33,335.28. Following the completion of the transaction, the insider now owns 98,120 shares of the company’s stock, valued at $1,376,623.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Angela G. Mago sold 3,405 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $14.24, for a total value of $48,487.20. Following the transaction, the insider now directly owns 214,630 shares of the company’s stock, valued at approximately $3,056,331.20. The disclosure for this sale can be found here. Insiders sold a total of 21,442 shares of company stock valued at $303,914 over the last quarter. 0.67% of the stock is owned by corporate insiders.

KeyCorp Company Profile

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.