Board of the Pension Protection Fund Has $72,000 Position in KeyCorp $KEY

Board of the Pension Protection Fund decreased its position in KeyCorp (NYSE:KEY) by 89.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,500 shares of the financial services provider’s stock after selling 30,800 shares during the quarter. Board of the Pension Protection Fund’s holdings in KeyCorp were worth $72,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Kingsview Wealth Management LLC boosted its holdings in shares of KeyCorp by 2.7% during the 3rd quarter. Kingsview Wealth Management LLC now owns 21,255 shares of the financial services provider’s stock worth $397,000 after buying an additional 568 shares during the period. NorthCrest Asset Manangement LLC raised its holdings in KeyCorp by 4.1% in the 3rd quarter. NorthCrest Asset Manangement LLC now owns 15,912 shares of the financial services provider’s stock worth $293,000 after acquiring an additional 627 shares during the period. Vanguard Personalized Indexing Management LLC lifted its position in KeyCorp by 0.4% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 154,818 shares of the financial services provider’s stock worth $2,894,000 after acquiring an additional 660 shares during the last quarter. Sequoia Financial Advisors LLC lifted its position in KeyCorp by 0.9% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 81,236 shares of the financial services provider’s stock worth $1,518,000 after acquiring an additional 694 shares during the last quarter. Finally, Hilltop Holdings Inc. boosted its holdings in KeyCorp by 3.1% during the third quarter. Hilltop Holdings Inc. now owns 27,538 shares of the financial services provider’s stock valued at $515,000 after acquiring an additional 824 shares during the period. 79.69% of the stock is currently owned by institutional investors and hedge funds.

KeyCorp Stock Up 1.0%

NYSE KEY opened at $19.26 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.82 and a current ratio of 0.83. The firm has a 50-day simple moving average of $21.12 and a 200 day simple moving average of $19.66. KeyCorp has a twelve month low of $12.73 and a twelve month high of $23.34. The stock has a market cap of $20.98 billion, a PE ratio of 12.67, a PEG ratio of 0.57 and a beta of 1.08.

KeyCorp (NYSE:KEY) last issued its earnings results on Tuesday, January 20th. The financial services provider reported $0.41 EPS for the quarter, topping the consensus estimate of $0.39 by $0.02. The firm had revenue of $5.45 billion during the quarter, compared to analysts’ expectations of $1.95 billion. KeyCorp had a return on equity of 10.28% and a net margin of 15.97%.KeyCorp’s quarterly revenue was up 131.8% compared to the same quarter last year. During the same period last year, the business earned $0.30 earnings per share. On average, research analysts forecast that KeyCorp will post 1.5 EPS for the current year.

KeyCorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Tuesday, March 3rd were given a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 4.3%. The ex-dividend date was Tuesday, March 3rd. KeyCorp’s dividend payout ratio (DPR) is 53.95%.

Insider Activity at KeyCorp

In other news, insider Angela G. Mago sold 62,850 shares of KeyCorp stock in a transaction that occurred on Thursday, January 29th. The shares were sold at an average price of $21.55, for a total value of $1,354,417.50. Following the completion of the transaction, the insider owned 261,415 shares in the company, valued at approximately $5,633,493.25. The trade was a 19.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Trina M. Evans sold 32,695 shares of KeyCorp stock in a transaction on 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 transaction, the director owned 58,719 shares of the company’s stock, valued at approximately $1,276,551.06. The trade was a 35.77% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 161,506 shares of company stock valued at $3,597,481 in the last 90 days. 0.52% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Stephens raised their price target on KeyCorp from $21.00 to $23.00 and gave the company an “overweight” rating in a research report on Thursday, December 18th. Evercore increased their target price on KeyCorp from $25.00 to $26.00 and gave the company an “outperform” rating in a research note on Thursday, February 5th. Weiss Ratings raised KeyCorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, February 25th. Citigroup reiterated a “neutral” rating on shares of KeyCorp in a report on Wednesday, December 31st. Finally, The Goldman Sachs Group increased their price objective on KeyCorp from $25.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, January 21st. Twelve investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, KeyCorp has an average rating of “Moderate Buy” and an average price target of $23.03.

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.