Aquatic Capital Management LLC Takes $7.16 Million Position in KeyCorp (NYSE:KEY)

Aquatic Capital Management LLC purchased a new stake in KeyCorp (NYSE:KEY - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 417,523 shares of the financial services provider's stock, valued at approximately $7,156,000.

A number of other hedge funds have also bought and sold shares of the business. Principal Financial Group Inc. grew its holdings in shares of KeyCorp by 3.4% during the 4th quarter. Principal Financial Group Inc. now owns 1,117,238 shares of the financial services provider's stock worth $19,149,000 after purchasing an additional 36,424 shares in the last quarter. Truist Financial Corp lifted its position in KeyCorp by 27.1% during the fourth quarter. Truist Financial Corp now owns 95,856 shares of the financial services provider's stock worth $1,643,000 after purchasing an additional 20,424 shares during the period. Avanza Fonder AB acquired a new stake in KeyCorp during the fourth quarter worth about $1,618,000. Proficio Capital Partners LLC bought a new position in KeyCorp in the 4th quarter valued at about $1,519,000. Finally, CHURCHILL MANAGEMENT Corp raised its position in shares of KeyCorp by 5.9% in the 4th quarter. CHURCHILL MANAGEMENT Corp now owns 465,333 shares of the financial services provider's stock valued at $7,976,000 after buying an additional 26,047 shares in the last quarter. 79.69% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on KEY. StockNews.com raised shares of KeyCorp from a "sell" rating to a "hold" rating in a research note on Monday, April 21st. Morgan Stanley reiterated an "equal weight" rating on shares of KeyCorp in a research note on Thursday, April 17th. JPMorgan Chase & Co. lowered their price target on KeyCorp from $18.50 to $16.50 and set a "neutral" rating for the company in a report on Thursday, April 3rd. Wells Fargo & Company reaffirmed an "overweight" rating on shares of KeyCorp in a research note on Thursday, April 17th. Finally, Truist Financial lowered their target price on KeyCorp from $18.00 to $16.00 and set a "hold" rating for the company in a research note on Tuesday, April 22nd. 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 company. According to data from MarketBeat.com, KeyCorp currently has a consensus rating of "Moderate Buy" and a consensus price target of $18.97.

KeyCorp Trading Up 1.1 %

Shares of NYSE KEY traded up $0.16 during trading on Thursday, reaching $15.00. The company had a trading volume of 9,888,575 shares, compared to its average volume of 12,824,255. 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. The stock has a market cap of $16.43 billion, a P/E ratio of -50.00, a PEG ratio of 0.65 and a beta of 1.06. The company's fifty day moving average price is $15.27 and its 200-day moving average price is $17.01.

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 analysts' consensus estimates of $0.32 by $0.01. The business had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.77 billion. KeyCorp had a negative net margin of 2.52% and a positive return on equity of 8.73%. During the same quarter in the prior year, the firm posted $0.20 EPS. As a group, research analysts expect that KeyCorp will post 1.5 earnings per share for the current year.

KeyCorp announced that its Board of Directors has approved 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 buy up to 6% of its shares through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its stock is undervalued.

Insider Transactions at KeyCorp

In other news, Director Of Nova Scotia Bank purchased 50,000 shares of the business's stock in a transaction on Wednesday, February 5th. The shares were acquired at an average price of $17.85 per share, with a total value of $892,500.00. Following the completion of the transaction, the director now owns 162,983,726 shares of the company's stock, valued at $2,909,259,509.10. The trade was a 0.03 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mohit Ramani acquired 10,000 shares of the stock in a transaction dated Monday, April 21st. The stock was acquired at an average cost of $13.75 per share, with a total value of $137,500.00. Following the completion of the transaction, the insider now owns 10,000 shares in the company, valued at approximately $137,500. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 60,180 shares of company stock worth $1,032,525 over the last three months. 0.52% of the stock is owned by company insiders.

KeyCorp 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.