Ameriprise Financial Inc. Has $46.73 Million Stake in KeyCorp (NYSE:KEY)

Ameriprise Financial Inc. trimmed its stake in KeyCorp (NYSE:KEY - Free Report) by 10.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,727,834 shares of the financial services provider's stock after selling 325,786 shares during the period. Ameriprise Financial Inc. owned about 0.28% of KeyCorp worth $46,734,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of KEY. Norges Bank bought a new stake in KeyCorp in the fourth quarter valued at $153,235,000. Vanguard Group Inc. grew its position in KeyCorp by 7.1% in the fourth quarter. Vanguard Group Inc. now owns 116,932,760 shares of the financial services provider's stock valued at $2,004,228,000 after acquiring an additional 7,754,576 shares during the period. Freestone Grove Partners LP bought a new stake in KeyCorp in the fourth quarter valued at $63,540,000. FMR LLC grew its position in KeyCorp by 7.1% in the fourth quarter. FMR LLC now owns 44,431,526 shares of the financial services provider's stock valued at $761,556,000 after acquiring an additional 2,938,405 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in KeyCorp in the fourth quarter valued at $42,827,000. 79.69% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

KEY has been the topic of a number of analyst reports. Keefe, Bruyette & Woods lowered their price target on KeyCorp from $20.00 to $18.00 and set an "outperform" rating on the stock in a research report on Monday, April 21st. Evercore ISI set a $17.00 target price on KeyCorp in a report on Monday, April 28th. Stephens restated an "overweight" rating and set a $20.00 target price on shares of KeyCorp in a report on Wednesday, January 22nd. Baird R W upgraded KeyCorp from a "hold" rating to a "strong-buy" rating in a report on Monday, April 7th. Finally, Barclays decreased their target price on KeyCorp from $21.00 to $20.00 and set an "equal weight" rating on the stock in a report on Monday, April 21st. Eight analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, KeyCorp presently has a consensus rating of "Moderate Buy" and an average price target of $18.97.

KeyCorp Price Performance

KeyCorp stock opened at $15.48 on Monday. The business's 50-day simple moving average is $15.06 and its 200 day simple moving average is $16.92. The stock has a market cap of $16.97 billion, a price-to-earnings ratio of -51.60, a P/E/G ratio of 0.65 and a beta of 1.08. KeyCorp has a 12-month low of $12.73 and a 12-month high of $20.04. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.77.

KeyCorp (NYSE:KEY - Get Free Report) last released its earnings results on Thursday, April 17th. The financial services provider reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.01. KeyCorp had a positive return on equity of 8.73% and a negative net margin of 2.52%. The firm had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same quarter in the prior year, the firm posted $0.20 earnings per share. As a group, research analysts anticipate that KeyCorp will post 1.5 earnings per share for the current year.

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

Insider Buying and Selling at KeyCorp

In related news, insider Mohit Ramani bought 10,000 shares of the business's stock in a transaction on Monday, April 21st. The shares were purchased at an average price of $13.75 per share, with a total value of $137,500.00. Following the completion of the purchase, the insider now owns 10,000 shares of the company's stock, valued at $137,500. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.52% 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.

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