Treasurer of the State of North Carolina Trims Stock Holdings in KeyCorp (NYSE:KEY)

Treasurer of the State of North Carolina lowered its holdings in KeyCorp (NYSE:KEY) by 1.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 509,702 shares of the financial services provider’s stock after selling 6,830 shares during the period. Treasurer of the State of North Carolina owned about 0.05% of KeyCorp worth $9,047,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Charles Schwab Investment Management Inc. lifted its holdings in KeyCorp by 3.2% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 7,685,052 shares of the financial services provider’s stock worth $136,410,000 after buying an additional 241,553 shares during the last quarter. IFG Advisory LLC bought a new position in KeyCorp during the 2nd quarter worth approximately $235,000. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of KeyCorp by 1.6% in the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 823,679 shares of the financial services provider’s stock worth $14,283,000 after purchasing an additional 13,274 shares during the last quarter. Corient Capital Partners LLC lifted its holdings in shares of KeyCorp by 11.0% in the 2nd quarter. Corient Capital Partners LLC now owns 12,506 shares of the financial services provider’s stock worth $222,000 after purchasing an additional 1,242 shares during the last quarter. Finally, Winslow Evans & Crocker Inc. lifted its holdings in shares of KeyCorp by 106.7% in the 2nd quarter. Winslow Evans & Crocker Inc. now owns 7,604 shares of the financial services provider’s stock worth $136,000 after purchasing an additional 3,926 shares during the last quarter. 80.08% of the stock is owned by hedge funds and other institutional investors.

KEY has been the topic of several recent research reports. Credit Suisse Group raised KeyCorp from an “average” rating to a “buy” rating and set a $40.00 price target on the stock in a report on Wednesday, August 7th. Nomura set a $18.00 target price on KeyCorp and gave the company a “hold” rating in a research report on Friday, July 26th. Zacks Investment Research cut KeyCorp from a “hold” rating to a “sell” rating and set a $20.00 target price on the stock. in a research report on Monday, July 8th. Morgan Stanley lowered their price target on KeyCorp from $21.00 to $20.50 and set an “overweight” rating on the stock in a research report on Thursday. Finally, UBS Group lifted their price target on KeyCorp from $21.00 to $22.00 and gave the company a “buy” rating in a research report on Thursday. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $23.58.

In related news, insider Andrew J. Paine III sold 99,999 shares of KeyCorp stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $18.26, for a total transaction of $1,825,981.74. Following the completion of the sale, the insider now owns 85,469 shares of the company’s stock, valued at $1,560,663.94. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Amy G. Brady sold 10,806 shares of KeyCorp stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $18.02, for a total value of $194,724.12. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by company insiders.

Shares of NYSE KEY traded down $0.10 during mid-day trading on Friday, reaching $17.01. The company had a trading volume of 416,343 shares, compared to its average volume of 9,644,870. The company has a current ratio of 0.91, a quick ratio of 0.89 and a debt-to-equity ratio of 0.95. The stock has a market cap of $17.44 billion, a PE ratio of 9.86, a P/E/G ratio of 2.99 and a beta of 1.29. The company has a 50-day moving average price of $17.09 and a two-hundred day moving average price of $17.02. KeyCorp has a 1-year low of $13.65 and a 1-year high of $20.74.

KeyCorp (NYSE:KEY) last issued its earnings results on Tuesday, July 23rd. The financial services provider reported $0.44 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.44. The business had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.62 billion. KeyCorp had a return on equity of 12.82% and a net margin of 23.15%. KeyCorp’s revenue was down 2.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.44 earnings per share. On average, research analysts expect that KeyCorp will post 1.79 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Tuesday, August 27th were given a dividend of $0.185 per share. This is a boost from KeyCorp’s previous quarterly dividend of $0.17. The ex-dividend date was Monday, August 26th. This represents a $0.74 dividend on an annualized basis and a yield of 4.35%. KeyCorp’s dividend payout ratio (DPR) is presently 42.77%.

KeyCorp Company Profile

KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking services in the United States. The company's Key Community Bank segment offers various deposit and investment products, personal finance services, residential mortgages, home equity loans, credit cards, and installment loans.

Read More: Earnings Per Share (EPS) Explained

Institutional Ownership by Quarter for KeyCorp (NYSE:KEY)

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