Collar Capital Management LLC Makes New Investment in KeyCorp (NYSE:KEY)

Collar Capital Management LLC purchased a new position in shares of KeyCorp (NYSE:KEY - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 120,001 shares of the financial services provider's stock, valued at approximately $2,057,000. KeyCorp makes up about 1.7% of Collar Capital Management LLC's holdings, making the stock its 24th biggest holding.

A number of other institutional investors have also modified their holdings of the company. Whittier Trust Co. raised its holdings in 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 acquiring an additional 800 shares during the last quarter. Ethos Financial Group LLC acquired a new position in KeyCorp in the fourth quarter valued at $27,000. SBI Securities Co. Ltd. purchased a new position in KeyCorp during the fourth quarter worth about $34,000. TCTC Holdings LLC boosted its stake in KeyCorp by 38.6% in the 4th quarter. TCTC Holdings LLC now owns 2,195 shares of the financial services provider's stock worth $38,000 after buying an additional 611 shares during the last quarter. Finally, Optiver Holding B.V. purchased a new stake in KeyCorp in the 4th quarter valued at about $42,000. Institutional investors and hedge funds own 79.69% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on KEY shares. Baird R W raised shares of KeyCorp from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 7th. Stephens reissued an "overweight" rating and set a $20.00 price objective on shares of KeyCorp in a research note on Wednesday, January 22nd. StockNews.com upgraded KeyCorp from a "sell" rating to a "hold" rating in a report on Monday, April 21st. Keefe, Bruyette & Woods reduced their target price on KeyCorp from $20.00 to $18.00 and set an "outperform" rating on the stock in a report on Monday, April 21st. Finally, Evercore ISI set a $17.00 price target on KeyCorp in a research note on Monday, April 28th. Eight analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, KeyCorp currently has an average rating of "Moderate Buy" and an average target price of $18.97.

KeyCorp Stock Down 0.6 %

Shares of NYSE:KEY traded down $0.09 during trading on Friday, hitting $15.48. The company's stock had a trading volume of 12,402,497 shares, compared to its average volume of 12,857,548. The company has a market capitalization of $16.97 billion, a PE ratio of -51.60, a PEG ratio of 0.65 and a beta of 1.08. KeyCorp has a fifty-two week low of $12.73 and a fifty-two week high of $20.04. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.84 and a current ratio of 0.85. The stock's 50-day moving average price is $15.06 and its two-hundred day moving average price is $16.92.

KeyCorp (NYSE:KEY - Get Free Report) last announced its earnings results on Thursday, April 17th. The financial services provider reported $0.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 company posted $0.20 EPS. As a group, sell-side analysts expect that KeyCorp will post 1.5 EPS for the current year.

KeyCorp declared that its Board of Directors has initiated a stock buyback program on Thursday, March 13th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board of directors believes its stock is undervalued.

Insider Activity

In other news, insider Mohit Ramani acquired 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, for a total transaction of $137,500.00. Following the completion of the purchase, the insider now directly owns 10,000 shares of the company's stock, valued at $137,500. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.52% of the company's stock.

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.