KeyCorp (NYSE:KEY) Stock Holdings Decreased by California Public Employees Retirement System

California Public Employees Retirement System cut its stake in KeyCorp (NYSE:KEY - Free Report) by 8.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,448,132 shares of the financial services provider's stock after selling 139,745 shares during the period. California Public Employees Retirement System owned 0.15% of KeyCorp worth $24,821,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in KEY. Whittier Trust Co. raised its stake in shares of KeyCorp by 110.3% in the 4th quarter. Whittier Trust Co. now owns 1,525 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 800 shares in the last quarter. Ethos Financial Group LLC acquired a new stake in KeyCorp during the fourth quarter valued at approximately $27,000. SBI Securities Co. Ltd. acquired a new stake in KeyCorp during the fourth quarter valued at approximately $34,000. TCTC Holdings LLC grew its position in shares of KeyCorp by 38.6% in the 4th quarter. TCTC Holdings LLC now owns 2,195 shares of the financial services provider's stock worth $38,000 after acquiring an additional 611 shares in the last quarter. Finally, Whipplewood Advisors LLC acquired a new position in shares of KeyCorp in the 4th quarter worth approximately $45,000. 79.69% of the stock is currently owned by institutional investors.

KeyCorp Price Performance

Shares of NYSE KEY traded down $0.67 during mid-day trading on Friday, reaching $13.45. 23,356,702 shares of the company traded hands, compared to its average volume of 12,715,053. KeyCorp has a fifty-two week low of $12.73 and a fifty-two week high of $20.04. The firm has a market cap of $14.74 billion, a PE ratio of -44.83, a price-to-earnings-growth ratio of 0.65 and a beta of 1.06. The stock has a fifty day simple moving average of $16.67 and a 200-day simple moving average of $17.37. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.85 and a quick ratio of 0.84.

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KeyCorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th were paid a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 6.10%. The ex-dividend date was Tuesday, March 4th. KeyCorp's dividend payout ratio is presently -273.33%.

KeyCorp announced that its board has authorized a stock repurchase program on Thursday, March 13th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the financial services provider to repurchase up to 6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Morgan Stanley decreased their price objective on shares of KeyCorp from $22.00 to $20.00 and set an "equal weight" rating for the company in a report on Thursday, March 13th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $18.00 price objective on shares of KeyCorp in a research report on Wednesday, January 22nd. Stephens reiterated an "overweight" rating and set a $20.00 price objective on shares of KeyCorp in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. decreased their target price on KeyCorp from $18.50 to $16.50 and set a "neutral" rating for the company in a research note on Thursday. Finally, Barclays increased their price target on KeyCorp from $19.00 to $21.00 and gave the stock an "equal weight" rating in a research report on Monday, January 6th. Eight investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $19.31.

Insider Activity

In other KeyCorp news, Director Of Nova Scotia Bank acquired 50,000 shares of the stock in a transaction dated Wednesday, February 5th. The shares were bought at an average price of $17.85 per share, with a total value of $892,500.00. Following the purchase, the director now directly owns 162,983,726 shares of the company's stock, valued at approximately $2,909,259,509.10. This trade represents a 0.03 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.61% of the company's stock.

KeyCorp Company Profile

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.