BI Asset Management Fondsmaeglerselskab A S Acquires 57,479 Shares of KeyCorp (NYSE:KEY)

BI Asset Management Fondsmaeglerselskab A S lifted its position in shares of KeyCorp (NYSE:KEY - Free Report) by 133.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 100,591 shares of the financial services provider's stock after acquiring an additional 57,479 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in KeyCorp were worth $1,724,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of KEY. Whittier Trust Co. grew its position in shares of KeyCorp by 110.3% during the fourth quarter. Whittier Trust Co. now owns 1,525 shares of the financial services provider's stock worth $26,000 after acquiring an additional 800 shares during the last quarter. Ethos Financial Group LLC bought a new position in shares of KeyCorp during the fourth quarter worth about $27,000. SBI Securities Co. Ltd. bought a new position in shares of KeyCorp during the fourth quarter worth about $34,000. TCTC Holdings LLC grew its position in shares of KeyCorp by 38.6% during the fourth 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 during the last quarter. Finally, Whipplewood Advisors LLC bought a new position in shares of KeyCorp during the fourth quarter worth about $45,000. Institutional investors own 79.69% of the company's stock.

KeyCorp Trading Down 1.0 %

Shares of KEY traded down $0.15 during midday trading on Friday, hitting $14.72. The stock had a trading volume of 8,052,209 shares, compared to its average volume of 12,862,957. KeyCorp has a fifty-two week low of $12.73 and a fifty-two week high of $20.04. The business has a 50-day simple moving average of $15.42 and a two-hundred day simple moving average of $17.06. The firm has a market cap of $16.13 billion, a P/E ratio of -49.07, a price-to-earnings-growth ratio of 0.65 and a beta of 1.06. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.77.

KeyCorp (NYSE:KEY - Get Free Report) last announced its earnings results on Thursday, April 17th. The financial services provider reported $0.33 EPS for the quarter, topping the consensus estimate of $0.32 by $0.01. KeyCorp had a negative net margin of 2.52% and a positive return on equity of 8.73%. The company had revenue of $1.77 billion during the quarter, compared to analysts' expectations of $1.77 billion. During the same period last year, the company posted $0.20 earnings per share. As a group, equities analysts forecast that KeyCorp will post 1.5 EPS for the current year.

KeyCorp declared that its board has approved a stock repurchase plan on Thursday, March 13th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 6% of its stock through open market purchases. Stock buyback plans are often an indication that the company's leadership believes its stock is undervalued.

Insiders Place Their Bets

In related news, insider Mohit Ramani purchased 10,000 shares of the stock in a transaction dated Monday, April 21st. The shares were acquired at an average cost of $13.75 per share, for a total transaction of $137,500.00. Following the acquisition, the insider now directly owns 10,000 shares in the company, valued at approximately $137,500. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Of Nova Scotia Bank purchased 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, for a total transaction of $892,500.00. Following the completion of the acquisition, the director now owns 162,983,726 shares in the company, valued at $2,909,259,509.10. This represents a 0.03 % increase in their ownership of the stock. 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 ninety days. 0.52% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on KEY. Morgan Stanley reiterated an "equal weight" rating on shares of KeyCorp in a research report on Thursday, April 17th. Citigroup reiterated a "buy" rating on shares of KeyCorp in a research report on Thursday, April 17th. Keefe, Bruyette & Woods decreased their target price on shares of KeyCorp from $20.00 to $18.00 and set an "outperform" rating for the company in a research report on Monday, April 21st. Wells Fargo & Company reiterated an "overweight" rating on shares of KeyCorp in a research report on Thursday, April 17th. Finally, StockNews.com upgraded shares of KeyCorp from a "sell" rating to a "hold" rating in a research report on Monday, April 21st. Eight research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $19.15.

About KeyCorp

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.