KeyCorp (KEY) Shares Bought by New Mexico Educational Retirement Board

New Mexico Educational Retirement Board boosted its position in KeyCorp (NYSE:KEY) by 2.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 104,487 shares of the financial services provider’s stock after buying an additional 2,600 shares during the quarter. New Mexico Educational Retirement Board’s holdings in KeyCorp were worth $2,108,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of KEY. Zions Bancorporation boosted its stake in KeyCorp by 2,277.5% in the third quarter. Zions Bancorporation now owns 5,706 shares of the financial services provider’s stock worth $107,000 after buying an additional 5,466 shares in the last quarter. Bank of Nova Scotia Trust Co. purchased a new stake in KeyCorp in the third quarter worth approximately $132,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in KeyCorp in the third quarter worth approximately $145,000. AllSquare Wealth Management LLC purchased a new stake in KeyCorp in the third quarter worth approximately $173,000. Finally, Connable Office Inc. purchased a new stake in KeyCorp in the third quarter worth approximately $195,000. 82.19% of the stock is owned by institutional investors and hedge funds.

In related news, insider Christopher M. Gorman sold 56,038 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $20.97, for a total value of $1,175,116.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Craig A. Buffie sold 11,819 shares of the firm’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $21.21, for a total value of $250,680.99. Following the completion of the sale, the insider now directly owns 51,791 shares of the company’s stock, valued at approximately $1,098,487.11. The disclosure for this sale can be found here. Company insiders own 0.65% of the company’s stock.

KEY has been the subject of several research reports. Morgan Stanley reaffirmed an “overweight” rating and issued a $23.00 target price on shares of KeyCorp in a research note on Thursday, December 14th. ValuEngine raised KeyCorp from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Zacks Investment Research lowered KeyCorp from a “buy” rating to a “hold” rating in a research note on Tuesday. Oppenheimer reaffirmed a “hold” rating on shares of KeyCorp in a research note on Friday, October 20th. Finally, Deutsche Bank raised KeyCorp from a “hold” rating to a “buy” rating and upped their target price for the stock from $23.00 to $24.00 in a research note on Thursday, January 25th. Two analysts have rated the stock with a sell rating, six have given a hold rating and eighteen have assigned a buy rating to the company. KeyCorp currently has an average rating of “Buy” and an average price target of $22.07.

Shares of KeyCorp (NYSE:KEY) opened at $21.02 on Friday. The firm has a market capitalization of $22,397.31, a P/E ratio of 15.29, a PEG ratio of 1.32 and a beta of 1.04. KeyCorp has a 52 week low of $16.28 and a 52 week high of $22.22. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.88 and a current ratio of 0.89.

KeyCorp (NYSE:KEY) last released its quarterly earnings data on Thursday, January 18th. The financial services provider reported $0.36 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.36. The firm had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.58 billion. KeyCorp had a return on equity of 10.66% and a net margin of 18.06%. During the same quarter in the prior year, the firm posted $0.31 earnings per share. sell-side analysts forecast that KeyCorp will post 1.67 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Tuesday, February 27th will be paid a $0.105 dividend. This represents a $0.42 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date is Monday, February 26th. KeyCorp’s payout ratio is 37.50%.

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KeyCorp Company Profile

KeyCorp is a bank holding company. The Company is a bank-based financial services company. The Company operates through its subsidiary, KeyBank National Association (KeyBank), which is engaged in providing banking services. Through KeyBank and other subsidiaries, it provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, and investment banking products and services to individual, corporate and institutional clients.

Institutional Ownership by Quarter for KeyCorp (NYSE:KEY)

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