KeyCorp $KEY Shares Acquired by California Public Employees Retirement System

California Public Employees Retirement System lifted its stake in shares of KeyCorp (NYSE:KEY) by 4.7% in the 1st quarter, Holdings Channel reports. The institutional investor owned 1,766,616 shares of the financial services provider’s stock after acquiring an additional 78,529 shares during the quarter. California Public Employees Retirement System’s holdings in KeyCorp were worth $35,421,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Maseco LLP purchased a new stake in KeyCorp in the fourth quarter valued at approximately $27,000. DV Equities LLC acquired a new stake in shares of KeyCorp in the 4th quarter worth $27,000. Smithfield Trust Co acquired a new stake in KeyCorp in the fourth quarter valued at about $31,000. Kelleher Financial Advisors acquired a new stake in shares of KeyCorp in the 3rd quarter valued at approximately $32,000. Finally, True Wealth Design LLC boosted its position in shares of KeyCorp by 1,263.5% during the 4th quarter. True Wealth Design LLC now owns 1,718 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 1,592 shares in the last quarter. 79.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on KEY. Stephens assumed coverage on KeyCorp in a report on Monday, June 15th. They issued an “overweight” rating and a $26.00 price target on the stock. JPMorgan Chase & Co. lifted their price target on shares of KeyCorp from $22.50 to $24.50 and gave the stock a “neutral” rating in a report on Monday, July 6th. TD Cowen reiterated a “buy” rating and issued a $68.00 target price on shares of KeyCorp in a research note on Tuesday, June 23rd. The Goldman Sachs Group increased their price target on shares of KeyCorp from $25.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday, April 17th. Finally, DA Davidson raised their price objective on KeyCorp from $26.00 to $27.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Thirteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $47.34.

KeyCorp News Summary

Here are the key news stories impacting KeyCorp this week:

• Positive Sentiment: KeyCorp beat Q2 earnings estimates with adjusted EPS of $0.44, ahead of Wall Street’s $0.42 forecast, while revenue rose 6.7% year over year to $1.96 billion. KEYCORP REPORTS SECOND QUARTER 2026 NET INCOME OF $472 MILLION, OR $0.44 PER DILUTED COMMON SHARE INCREASING 26% YEAR-OVER-YEAR
• Positive Sentiment: Net interest income increased 9% year over year and 2% sequentially, and net interest margin edged up to 2.89%, showing improving core banking profitability. KEYCORP REPORTS SECOND QUARTER 2026 NET INCOME OF $472 MILLION, OR $0.44 PER DILUTED COMMON SHARE INCREASING 26% YEAR-OVER-YEAR
• Positive Sentiment: Management highlighted momentum in priority growth businesses, including a 9% quarter-over-quarter increase in investment banking pipelines and double-digit fee growth in commercial payments, supporting the outlook for continued growth. KeyCorp Expands US Middle Market Footprint and Targets European M&A
• Neutral Sentiment: The company reaffirmed its growth path in the earnings call, with analysts pointing to continued margin expansion and stronger fee income as key themes. KeyCorp (KEY) Q2 2026 Earnings Call Transcript
• Neutral Sentiment: KeyCorp also updated its FY2026 revenue guidance to $8.0 billion-$8.1 billion, broadly in line with consensus, which should keep investor focus on execution rather than a big change in outlook.

Insider Activity at KeyCorp

In other news, insider Angela G. Mago sold 22,826 shares of KeyCorp stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $21.66, for a total value of $494,411.16. Following the completion of the transaction, the insider owned 281,564 shares in the company, valued at approximately $6,098,676.24. This trade represents a 7.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.56% of the company’s stock.

KeyCorp Stock Performance

NYSE:KEY opened at $23.02 on Wednesday. The stock has a market cap of $24.85 billion, a P/E ratio of 14.12, a PEG ratio of 0.73 and a beta of 1.02. KeyCorp has a 1-year low of $16.47 and a 1-year high of $24.07. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.83 and a quick ratio of 0.83. The firm has a 50-day moving average of $22.36 and a two-hundred day moving average of $21.56.

KeyCorp (NYSE:KEY) last issued its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.02. KeyCorp had a return on equity of 10.80% and a net margin of 17.03%.The firm had revenue of $1.96 billion during the quarter, compared to analyst estimates of $1.97 billion. During the same quarter last year, the firm earned $0.35 EPS. KeyCorp’s quarterly revenue was up 6.7% on a year-over-year basis. On average, research analysts expect that KeyCorp will post 1.82 earnings per share for the current fiscal year.

KeyCorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be paid a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Tuesday, September 1st. KeyCorp’s dividend payout ratio (DPR) is 50.31%.

KeyCorp declared that its board has approved a stock buyback plan on Wednesday, May 13th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the financial services provider to purchase up to 13% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

About KeyCorp

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.