Teachers Retirement System of The State of Kentucky Has $25.29 Million Position in KeyCorp (NYSE:KEY)

Teachers Retirement System of The State of Kentucky lessened its holdings in shares of KeyCorp (NYSE:KEY) by 4.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,475,306 shares of the financial services provider’s stock after selling 66,374 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in KeyCorp were worth $25,287,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the business. Principal Financial Group Inc. increased its position in KeyCorp by 3.4% in the 4th quarter. Principal Financial Group Inc. now owns 1,117,238 shares of the financial services provider’s stock worth $19,149,000 after buying an additional 36,424 shares during the period. Truist Financial Corp increased its position in KeyCorp by 27.1% during the fourth quarter. Truist Financial Corp now owns 95,856 shares of the financial services provider’s stock worth $1,643,000 after acquiring an additional 20,424 shares during the period. Avanza Fonder AB acquired a new position in KeyCorp during the 4th quarter valued at $1,618,000. Proficio Capital Partners LLC bought a new stake in KeyCorp in the 4th quarter valued at $1,519,000. Finally, CHURCHILL MANAGEMENT Corp grew its position in KeyCorp by 5.9% in the 4th quarter. CHURCHILL MANAGEMENT Corp now owns 465,333 shares of the financial services provider’s stock worth $7,976,000 after purchasing an additional 26,047 shares during the last quarter. Institutional investors own 79.69% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on KEY shares. Royal Bank of Canada reaffirmed an “outperform” rating on shares of KeyCorp in a research report on Thursday. Citigroup reiterated a “buy” rating on shares of KeyCorp in a research report on Thursday. Morgan Stanley restated an “equal weight” rating on shares of KeyCorp in a research report on Thursday. Baird R W raised KeyCorp from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 7th. Finally, Wells Fargo & Company reiterated an “overweight” rating on shares of KeyCorp in a research note on Thursday. Seven analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $19.50.

Insider Buying and Selling at KeyCorp

In other news, Director Of Nova Scotia Bank acquired 50,000 shares of KeyCorp stock in a transaction on Wednesday, February 5th. The shares were purchased at an average price of $17.85 per share, with a total value of $892,500.00. Following the acquisition, the director now owns 162,983,726 shares in the company, valued at $2,909,259,509.10. This represents a 0.03 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.52% of the company’s stock.

KeyCorp Stock Up 1.3 %

NYSE KEY opened at $14.26 on Monday. The stock’s 50 day simple moving average is $15.75 and its 200 day simple moving average is $17.14. KeyCorp has a one year low of $12.73 and a one year high of $20.04. The firm has a market cap of $15.62 billion, a PE ratio of -47.53, a price-to-earnings-growth ratio of 0.65 and a beta of 1.06. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.85 and a quick ratio of 0.84.

KeyCorp (NYSE:KEY) last announced its earnings results on Thursday, April 17th. The financial services provider reported $0.33 EPS for the quarter, topping the consensus estimate of $0.32 by $0.01. KeyCorp had a positive return on equity of 8.73% and a negative net margin of 2.52%. The company had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter in the prior year, the business earned $0.20 earnings per share. As a group, sell-side analysts forecast that KeyCorp will post 1.5 earnings per share for the current fiscal year.

KeyCorp declared that its board has initiated a stock repurchase plan on Thursday, March 13th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to reacquire up to 6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

About KeyCorp

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.