Illinois Municipal Retirement Fund Purchases New Shares in KeyCorp $KEY

Illinois Municipal Retirement Fund purchased a new position in KeyCorp (NYSE:KEY) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 46,692 shares of the financial services provider’s stock, valued at approximately $936,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. M&T Bank Corp raised its stake in KeyCorp by 5,317.0% during the 4th quarter. M&T Bank Corp now owns 1,350,519 shares of the financial services provider’s stock valued at $27,875,000 after purchasing an additional 1,325,588 shares during the period. Bank of New York Mellon Corp boosted its position in shares of KeyCorp by 14.8% in the fourth quarter. Bank of New York Mellon Corp now owns 5,602,637 shares of the financial services provider’s stock worth $115,638,000 after buying an additional 721,421 shares during the period. Jefferies Financial Group Inc. boosted its position in shares of KeyCorp by 62.1% in the fourth quarter. Jefferies Financial Group Inc. now owns 220,523 shares of the financial services provider’s stock worth $4,552,000 after buying an additional 84,497 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in shares of KeyCorp by 68.5% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 204,993 shares of the financial services provider’s stock valued at $4,428,000 after buying an additional 83,367 shares in the last quarter. Finally, Concurrent Investment Advisors LLC purchased a new position in shares of KeyCorp during the fourth quarter valued at $3,826,000. Institutional investors and hedge funds own 79.69% of the company’s stock.

KeyCorp Price Performance

KEY opened at $23.09 on Thursday. The stock has a market cap of $24.92 billion, a price-to-earnings ratio of 13.42, a PEG ratio of 0.72 and a beta of 1.02. KeyCorp has a 1 year low of $16.47 and a 1 year high of $24.07. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.63. The stock has a fifty day moving average price of $22.41 and a 200 day moving average price of $21.58.

KeyCorp (NYSE:KEY) last issued its earnings results on Tuesday, July 21st. The financial services provider reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.02. KeyCorp had a return on equity of 11.23% and a net margin of 17.83%.The company had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same period in the prior year, the firm posted $0.35 EPS. The business’s revenue was up 6.7% compared to the same quarter last year. Analysts forecast that KeyCorp will post 1.82 EPS for the current fiscal year.

KeyCorp announced that its board has initiated a stock repurchase plan on Wednesday, May 13th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the financial services provider to reacquire up to 13% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

KeyCorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a $0.205 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $0.82 dividend on an annualized basis and a yield of 3.6%. KeyCorp’s dividend payout ratio is currently 50.31%.

Insiders Place Their Bets

In related news, insider Angela G. Mago sold 22,826 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $21.66, for a total transaction of $494,411.16. Following the transaction, the insider owned 281,564 shares of the company’s stock, valued at approximately $6,098,676.24. This trade represents a 7.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.56% of the company’s stock.

Key Headlines Impacting KeyCorp

Here are the key news stories impacting KeyCorp this week:

• Positive Sentiment: KeyCorp beat Q2 earnings estimates, reporting $0.44 per share versus $0.42 expected, while revenue came in at $1.96 billion and net income rose 26% year over year. The results were supported by higher net interest income, stronger fee income, loan growth, and lower provisions. Article KeyCorp Reports Second Quarter 2026 Net Income
• Positive Sentiment: Analysts are raising their outlooks after the earnings beat. Bank of America Securities reiterated a Buy rating with a $26 price target, Keefe, Bruyette & Woods raised its target to $26 and kept an Outperform rating, and other firms also lifted estimates, signaling improving sentiment around the bank’s earnings trajectory. Article Buy Rating Reaffirmed
• Positive Sentiment: Management highlighted momentum in growth initiatives such as investment banking, commercial payments, and wealth management, with pipelines and fee growth improving. That suggests the earnings beat may not be a one-quarter event. Article KeyCorp Expands US Middle Market Footprint and Targets European M&A
• Neutral Sentiment: Not all commentary was bullish: Morgan Stanley kept a Hold rating, and one analyst noted that weaker noninterest income and margin pressure could limit upside, even though loan growth remains supportive. Article Hold Rating Reiterated

Analysts Set New Price Targets

KEY has been the subject of several research analyst reports. The Goldman Sachs Group increased their price objective on KeyCorp from $25.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday, April 17th. Wells Fargo & Company lifted their target price on KeyCorp from $24.00 to $27.00 and gave the company an “overweight” rating in a research note on Monday, July 6th. Susquehanna upped their target price on KeyCorp from $300.00 to $415.00 and gave the company a “positive” rating in a report on Monday, May 18th. Morgan Stanley raised their price target on shares of KeyCorp from $24.00 to $25.00 and gave the stock an “equal weight” rating in a report on Monday, June 29th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of KeyCorp from $25.00 to $26.00 and gave the company an “outperform” rating in a research report on Wednesday. Thirteen analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.61.

KeyCorp Profile

KeyCorp is a bank holding company headquartered in Cleveland, Ohio, that operates through its primary banking subsidiary, KeyBank. It provides a broad range of banking and financial services to individual consumers, small businesses, middle-market companies and large corporations. KeyBank’s offerings span traditional deposit and lending products as well as more specialized financial solutions designed for commercial and institutional clients.

The company’s product and service mix includes retail banking products such as checking and savings accounts, consumer and residential mortgage lending, and auto financing.