Brevan Howard Capital Management LP Has $1.69 Million Stock Holdings in KeyCorp (NYSE:KEY)

Brevan Howard Capital Management LP reduced its holdings in shares of KeyCorp (NYSE:KEY - Free Report) by 50.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 98,569 shares of the financial services provider's stock after selling 101,433 shares during the period. Brevan Howard Capital Management LP's holdings in KeyCorp were worth $1,689,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Whittier Trust Co. grew its stake in shares of KeyCorp by 110.3% in the 4th quarter. Whittier Trust Co. now owns 1,525 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 800 shares during the period. Ethos Financial Group LLC acquired a new stake in KeyCorp in the 4th quarter valued at $27,000. SBI Securities Co. Ltd. bought a new stake in KeyCorp in the fourth quarter valued at $34,000. TCTC Holdings LLC raised its stake in 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 in the last quarter. Finally, Optiver Holding B.V. bought a new position in shares of KeyCorp during the fourth quarter valued at $42,000. Institutional investors and hedge funds own 79.69% of the company's stock.

KeyCorp Trading Down 1.5 %

Shares of NYSE:KEY opened at $15.32 on Wednesday. The business's 50 day simple moving average is $15.15 and its 200 day simple moving average is $16.95. KeyCorp has a 1 year low of $12.73 and a 1 year high of $20.04. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.85 and a quick ratio of 0.84. The company has a market capitalization of $16.79 billion, a P/E ratio of -51.07, a P/E/G ratio of 0.65 and a beta of 1.08.

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 (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.01. The company had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.77 billion. KeyCorp had a positive return on equity of 8.73% and a negative net margin of 2.52%. During the same period in the prior year, the firm posted $0.20 EPS. On average, research analysts anticipate that KeyCorp will post 1.5 EPS for the current fiscal year.

KeyCorp declared that its Board of Directors has initiated a stock buyback 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 buy up to 6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's board believes its stock is undervalued.

Insider Buying and Selling at KeyCorp

In other news, insider Mohit Ramani purchased 10,000 shares of KeyCorp stock in a transaction that occurred on Monday, April 21st. The shares were acquired at an average price of $13.75 per share, for a total transaction of $137,500.00. Following the transaction, the insider now owns 10,000 shares of the company's stock, valued at approximately $137,500. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.52% of the company's stock.

Analyst Ratings Changes

KEY has been the subject of a number of recent analyst reports. Baird R W upgraded shares of KeyCorp from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 7th. Citigroup reissued a "buy" rating on shares of KeyCorp in a report on Thursday, April 17th. Royal Bank of Canada reiterated an "outperform" rating on shares of KeyCorp in a research report on Thursday, April 17th. 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. Finally, DA Davidson cut their price target on KeyCorp from $22.00 to $21.00 and set a "buy" rating for the company in a report on Wednesday, January 22nd. Eight equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, KeyCorp presently has a consensus rating of "Moderate Buy" and an average price target of $18.97.

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.

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