Tounjian Advisory Partners LLC Acquires Shares of 78,046 KeyCorp (NYSE:KEY)

Tounjian Advisory Partners LLC purchased a new stake in shares of KeyCorp (NYSE:KEY - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 78,046 shares of the financial services provider's stock, valued at approximately $1,248,000.

A number of other large investors have also recently added to or reduced their stakes in KEY. Whittier Trust Co. increased 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 valued at $26,000 after acquiring an additional 800 shares during the last quarter. Ethos Financial Group LLC purchased a new position in shares of KeyCorp during the 4th quarter worth approximately $27,000. Fourth Dimension Wealth LLC purchased a new position in shares of KeyCorp during the 4th quarter worth approximately $28,000. SBI Securities Co. Ltd. acquired a new stake in KeyCorp in the 4th quarter valued at approximately $34,000. Finally, TCTC Holdings LLC raised its position in KeyCorp by 38.6% in the fourth quarter. TCTC Holdings LLC now owns 2,195 shares of the financial services provider's stock valued at $38,000 after purchasing an additional 611 shares during the period. 79.69% of the stock is currently owned by institutional investors and hedge funds.

KeyCorp Stock Down 0.3%

NYSE KEY traded down $0.05 during trading on Monday, reaching $16.28. 9,965,483 shares of the company's stock were exchanged, compared to its average volume of 12,989,190. The company has a 50 day moving average price of $15.13 and a two-hundred day moving average price of $16.59. The stock has a market cap of $17.84 billion, a P/E ratio of -54.27, a price-to-earnings-growth ratio of 0.65 and a beta of 1.09. 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 quick ratio of 0.84 and a current ratio of 0.85.

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 for the quarter, topping the consensus estimate of $0.32 by $0.01. The firm had revenue of $1.77 billion during the quarter, compared to analysts' expectations 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 quarter in the previous year, the business earned $0.20 earnings per share. On average, equities research analysts anticipate that KeyCorp will post 1.5 EPS for the current fiscal year.

KeyCorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors 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 5.04%. The ex-dividend date of this dividend is Tuesday, May 27th. KeyCorp's dividend payout ratio (DPR) is -482.35%.

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

Wall Street Analyst Weigh In

KEY has been the subject of several research analyst reports. Jefferies Financial Group initiated coverage on KeyCorp in a research report on Wednesday, May 21st. They set a "hold" rating and a $18.00 price target for the company. JPMorgan Chase & Co. lowered their target price on KeyCorp from $18.50 to $16.50 and set a "neutral" rating for the company in a report on Thursday, April 3rd. Truist Financial dropped their target price on KeyCorp from $18.00 to $16.00 and set a "hold" rating for the company in a research report on Tuesday, April 22nd. Royal Bank of Canada reissued an "outperform" rating on shares of KeyCorp in a research report on Thursday, April 17th. Finally, Barclays lowered their price objective on shares of KeyCorp from $21.00 to $20.00 and set an "equal weight" rating for the company in a research note on Monday, April 21st. Eleven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $18.86.

Insider Activity at KeyCorp

In other news, insider Mohit Ramani bought 10,000 shares of the firm's stock in a transaction that occurred on Monday, April 21st. The stock was purchased at an average cost of $13.75 per share, with a total value of $137,500.00. Following the transaction, the insider now directly owns 10,000 shares in the company, valued at $137,500. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Carlton L. Highsmith sold 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $16.60, for a total value of $83,000.00. Following the transaction, the director now owns 37,177 shares in the company, valued at $617,138.20. This represents a 11.85% decrease in their position. The disclosure for this sale can be found here. 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.