Ensign Peak Advisors Inc Sells 26,958 Shares of KeyCorp (NYSE:KEY)

Ensign Peak Advisors Inc trimmed its position in shares of KeyCorp (NYSE:KEY - Free Report) by 6.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 388,448 shares of the financial services provider's stock after selling 26,958 shares during the period. Ensign Peak Advisors Inc's holdings in KeyCorp were worth $6,658,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Fiduciary Trust Co bought a new position in KeyCorp in the 4th quarter worth approximately $244,000. Deutsche Bank AG increased its position in KeyCorp by 18.7% during the fourth quarter. Deutsche Bank AG now owns 4,905,549 shares of the financial services provider's stock worth $84,081,000 after acquiring an additional 772,452 shares during the period. EP Wealth Advisors LLC acquired a new position in KeyCorp during the 4th quarter valued at $192,000. Collar Capital Management LLC bought a new position in shares of KeyCorp during the 4th quarter worth about $2,057,000. Finally, Captrust Financial Advisors raised its position in shares of KeyCorp by 6.9% during the fourth quarter. Captrust Financial Advisors now owns 40,895 shares of the financial services provider's stock valued at $701,000 after buying an additional 2,645 shares during the last quarter. 79.69% of the stock is owned by institutional investors and hedge funds.

KeyCorp Stock Down 0.7%

Shares of KEY traded down $0.12 during midday trading on Monday, hitting $16.52. The stock had a trading volume of 1,384,705 shares, compared to its average volume of 12,892,001. The firm has a market cap of $18.10 billion, a price-to-earnings ratio of -55.02, a price-to-earnings-growth ratio of 0.65 and a beta of 1.08. The company has a 50 day simple moving average of $15.15 and a two-hundred day simple moving average of $16.89. KeyCorp has a twelve month low of $12.73 and a twelve month 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.

KeyCorp (NYSE:KEY - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The financial services provider reported $0.33 EPS for the quarter, topping analysts' consensus estimates of $0.32 by $0.01. The business had revenue of $1.77 billion for the quarter, compared to analyst estimates 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 previous year, the firm posted $0.20 earnings per share. On average, analysts anticipate that KeyCorp will post 1.5 EPS for the current year.

KeyCorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Tuesday, May 27th will be given a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.97%. The ex-dividend date is Tuesday, May 27th. KeyCorp's dividend payout ratio (DPR) is presently -482.35%.

KeyCorp announced that its Board of Directors has initiated a stock buyback 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 repurchase up to 6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

KEY has been the subject of several recent research reports. Stephens reaffirmed an "overweight" rating and issued a $20.00 price target on shares of KeyCorp in a report on Wednesday, January 22nd. Evercore ISI set a $17.00 target price on KeyCorp in a research report on Monday, April 28th. Citigroup reissued a "buy" rating on shares of KeyCorp in a report on Thursday, April 17th. Cowen assumed coverage on shares of KeyCorp in a report on Wednesday. They set a "hold" rating for the company. Finally, Truist Financial lowered their target price on shares of KeyCorp from $18.00 to $16.00 and set a "hold" rating on the stock in a research note on Tuesday, April 22nd. Ten investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $18.92.

Insiders Place Their Bets

In other KeyCorp news, Director Carlton L. Highsmith sold 5,000 shares of the company's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $16.60, for a total value of $83,000.00. Following the transaction, the director now directly owns 37,177 shares in the company, valued at $617,138.20. The trade was a 11.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mohit Ramani acquired 10,000 shares of the company's stock in a transaction dated Monday, April 21st. The stock was bought 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 of the company's stock, valued at approximately $137,500. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 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.