Maryland State Retirement & Pension System Has $847,000 Stock Position in KeyCorp (NYSE:KEY)

Maryland State Retirement & Pension System cut its stake in shares of KeyCorp (NYSE:KEY) by 6.5% in the 4th quarter, Holdings Channel reports. The institutional investor owned 49,410 shares of the financial services provider’s stock after selling 3,423 shares during the quarter. Maryland State Retirement & Pension System’s holdings in KeyCorp were worth $847,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Ethos Financial Group LLC acquired a new position in KeyCorp in the 4th quarter worth about $27,000. Larson Financial Group LLC grew its holdings 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 worth $32,000 after purchasing an additional 918 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of KeyCorp during the fourth quarter worth about $34,000. TCTC Holdings LLC increased its stake in shares of KeyCorp by 38.6% in the fourth quarter. TCTC Holdings LLC now owns 2,195 shares of the financial services provider’s stock valued at $38,000 after buying an additional 611 shares during the period. Finally, Whipplewood Advisors LLC bought a new position in KeyCorp in the 4th quarter valued at approximately $45,000. 79.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on KEY shares. Stephens restated an “overweight” rating and issued a $20.00 price target on shares of KeyCorp in a research report on Wednesday, January 22nd. Royal Bank of Canada reissued an “outperform” rating and issued a $18.00 price objective on shares of KeyCorp in a research note on Wednesday, January 22nd. The Goldman Sachs Group raised their target price on KeyCorp from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Barclays upped their price target on KeyCorp from $19.00 to $21.00 and gave the company an “equal weight” rating in a research report on Monday, January 6th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and set a $18.50 price objective on shares of KeyCorp in a research report on Monday, February 3rd. Eight analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, KeyCorp has an average rating of “Moderate Buy” and an average price target of $19.58.

Insider Activity

In other news, Director Of Nova Scotia Bank bought 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The shares were bought at an average cost of $17.85 per share, for a total transaction of $892,500.00. Following the acquisition, the director now directly owns 162,983,726 shares in the company, valued at approximately $2,909,259,509.10. This trade represents a 0.03 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.61% of the stock is currently owned by company insiders.

KeyCorp Stock Up 0.3 %

KeyCorp stock opened at $16.14 on Monday. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $17.83 billion, a PE ratio of -53.78, a PEG ratio of 0.65 and a beta of 1.26. The firm’s fifty day moving average is $17.08 and its 200 day moving average is $17.41. KeyCorp has a 12-month low of $13.11 and a 12-month high of $20.04.

KeyCorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th were given a dividend of $0.205 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 5.08%. KeyCorp’s dividend payout ratio (DPR) is presently -273.33%.

KeyCorp declared that its board has authorized a share repurchase plan on Thursday, March 13th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to repurchase up to 6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

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.