Public Sector Pension Investment Board Purchases 1,900 Shares of KeyCorp (NYSE:KEY)

Public Sector Pension Investment Board increased its stake in shares of KeyCorp (NYSE:KEY) by 1.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 161,783 shares of the financial services provider’s stock after purchasing an additional 1,900 shares during the quarter. Public Sector Pension Investment Board’s holdings in KeyCorp were worth $2,710,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Wolff Wiese Magana LLC grew its stake in shares of KeyCorp by 285.5% during the third quarter. Wolff Wiese Magana LLC now owns 1,542 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 1,142 shares during the last quarter. American Capital Advisory LLC bought a new stake in shares of KeyCorp during the third quarter valued at approximately $28,000. Larson Financial Group LLC grew its stake in shares of KeyCorp by 90.8% during the third quarter. Larson Financial Group LLC now owns 1,929 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 918 shares during the last quarter. Catalyst Capital Advisors LLC bought a new stake in shares of KeyCorp during the third quarter valued at approximately $35,000. Finally, Capital Performance Advisors LLP bought a new stake in shares of KeyCorp during the third quarter valued at approximately $38,000. 79.69% of the stock is owned by institutional investors.

Insider Activity at KeyCorp

In related news, Director Carlton L. Highsmith sold 9,000 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $17.14, for a total value of $154,260.00. Following the completion of the transaction, the director now owns 37,864 shares of the company’s stock, valued at approximately $648,988.96. This trade represents a 19.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Angela G. Mago sold 15,011 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $19.59, for a total transaction of $294,065.49. Following the completion of the transaction, the insider now directly owns 234,582 shares of the company’s stock, valued at approximately $4,595,461.38. This trade represents a 6.01 % decrease in their position. The disclosure for this sale can be found here. 0.67% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

KEY has been the topic of several research analyst reports. Robert W. Baird lowered shares of KeyCorp from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $18.00 to $17.00 in a report on Monday, October 14th. Wedbush increased their price objective on shares of KeyCorp from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Tuesday, September 24th. Wells Fargo & Company increased their price objective on shares of KeyCorp from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Royal Bank of Canada increased their price objective on shares of KeyCorp from $17.00 to $18.00 and gave the company an “outperform” rating in a report on Friday, October 18th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of KeyCorp from $19.00 to $22.00 and gave the company an “outperform” rating in a report on Wednesday. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, KeyCorp has an average rating of “Moderate Buy” and an average target price of $18.79.

KeyCorp Stock Down 0.2 %

Shares of KEY stock opened at $18.77 on Thursday. The firm has a fifty day moving average of $17.97 and a 200-day moving average of $16.19. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.09. KeyCorp has a 12-month low of $12.76 and a 12-month high of $20.04. The company has a market capitalization of $18.61 billion, a price-to-earnings ratio of 1,877.00, a P/E/G ratio of 1.05 and a beta of 1.25.

KeyCorp (NYSE:KEY) last issued its quarterly earnings data on Thursday, October 17th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.03. KeyCorp had a net margin of 0.76% and a return on equity of 8.24%. The company had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.59 billion. As a group, equities research analysts predict that KeyCorp will post 1.09 earnings per share for the current fiscal year.

KeyCorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Tuesday, December 3rd will be given a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 4.37%. The ex-dividend date is Tuesday, December 3rd. KeyCorp’s dividend payout ratio (DPR) is currently 8,200.00%.

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.