KeyCorp (NYSE:KEY) Shares Sold by Duquesne Family Office LLC

Duquesne Family Office LLC cut its position in shares of KeyCorp (NYSE:KEY - Free Report) by 9.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 527,000 shares of the financial services provider's stock after selling 56,900 shares during the period. Duquesne Family Office LLC owned approximately 0.05% of KeyCorp worth $9,033,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in KEY. Franklin Resources Inc. boosted its stake in KeyCorp by 340.0% during the third quarter. Franklin Resources Inc. now owns 413,011 shares of the financial services provider's stock valued at $7,186,000 after buying an additional 319,155 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of KeyCorp by 27.0% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 106,270 shares of the financial services provider's stock valued at $1,780,000 after purchasing an additional 22,609 shares during the last quarter. Czech National Bank lifted its stake in shares of KeyCorp by 13.7% in the 4th quarter. Czech National Bank now owns 214,923 shares of the financial services provider's stock valued at $3,684,000 after purchasing an additional 25,856 shares during the last quarter. Brookstone Capital Management lifted its stake in shares of KeyCorp by 6.3% in the 4th quarter. Brookstone Capital Management now owns 12,415 shares of the financial services provider's stock valued at $213,000 after purchasing an additional 734 shares during the last quarter. Finally, Wedmont Private Capital bought a new stake in shares of KeyCorp in the 4th quarter valued at approximately $169,000. 79.69% of the stock is owned by institutional investors.

Insider Transactions at KeyCorp

In other news, insider Mohit Ramani purchased 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, for a total transaction of $137,500.00. Following the completion of the transaction, the insider now directly owns 10,000 shares in the company, valued at approximately $137,500. This represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.52% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on KEY shares. Baird R W upgraded KeyCorp from a "hold" rating to a "strong-buy" rating in a report on Monday, April 7th. Barclays reduced their price objective on KeyCorp from $21.00 to $20.00 and set an "equal weight" rating on the stock in a report on Monday, April 21st. Evercore ISI set a $17.00 price target on KeyCorp in a research report on Monday, April 28th. Wells Fargo & Company restated an "overweight" rating on shares of KeyCorp in a research note on Thursday, April 17th. Finally, JPMorgan Chase & Co. dropped their target price on KeyCorp from $18.50 to $16.50 and set a "neutral" rating on the stock in a research note on Thursday, April 3rd. Eight equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $18.97.

KeyCorp Trading Up 6.9%

KEY stock traded up $1.07 during midday trading on Monday, hitting $16.56. 7,696,369 shares of the company's stock were exchanged, compared to its average volume of 12,850,792. The business has a 50-day simple moving average of $15.06 and a two-hundred day simple moving average of $16.92. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $18.14 billion, a PE ratio of -55.21, a P/E/G ratio of 0.65 and a beta of 1.08. KeyCorp has a 1-year low of $12.73 and a 1-year high of $20.04.

KeyCorp (NYSE:KEY - Get Free Report) last posted 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. KeyCorp had a positive return on equity of 8.73% and a negative net margin of 2.52%. The company had revenue of $1.77 billion during the quarter, compared to analysts' expectations of $1.77 billion. During the same quarter last year, the firm earned $0.20 earnings per share. On average, sell-side analysts predict that KeyCorp will post 1.5 EPS for the current fiscal year.

KeyCorp declared that its board has approved a stock repurchase program on Thursday, March 13th that permits the company to buyback $1.00 billion in 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 an indication that the company's leadership believes its stock is undervalued.

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.