AHL Investment Management Inc. acquired a new position in shares of KeyCorp (NYSE:KEY - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 45,550 shares of the financial services provider's stock, valued at approximately $728,000.
Other institutional investors also recently bought and sold shares of the company. Harrington Investments INC grew its holdings in KeyCorp by 4.6% during the 1st quarter. Harrington Investments INC now owns 47,991 shares of the financial services provider's stock valued at $767,000 after buying an additional 2,097 shares during the last quarter. Fortress Financial Group LLC boosted its stake in shares of KeyCorp by 6.6% during the first quarter. Fortress Financial Group LLC now owns 13,498 shares of the financial services provider's stock valued at $216,000 after acquiring an additional 835 shares during the last quarter. Curat Global LLC purchased a new stake in KeyCorp during the 1st quarter worth about $57,000. Contravisory Investment Management Inc. boosted its stake in shares of KeyCorp by 4.5% during the 1st quarter. Contravisory Investment Management Inc. now owns 49,102 shares of the financial services provider's stock worth $785,000 after purchasing an additional 2,100 shares during the last quarter. Finally, Bank & Trust Co boosted its stake in shares of KeyCorp by 10.9% during the 1st quarter. Bank & Trust Co now owns 68,239 shares of the financial services provider's stock worth $1,091,000 after purchasing an additional 6,725 shares during the last quarter. 79.69% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several brokerages recently issued reports on KEY. Evercore ISI set a $17.00 price objective on shares of KeyCorp in a research note on Monday, April 28th. Truist Financial decreased their price objective on KeyCorp from $18.00 to $16.00 and set a "hold" rating on the stock in a report on Tuesday, April 22nd. Royal Bank of Canada reiterated an "outperform" rating on shares of KeyCorp in a research note on Thursday, April 17th. Morgan Stanley reiterated an "equal weight" rating on shares of KeyCorp in a research report on Thursday, April 17th. Finally, TD Cowen started coverage on KeyCorp in a report on Thursday, May 15th. They issued a "hold" rating and a $18.00 price target for the company. Eleven research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $18.86.
Check Out Our Latest Report on KeyCorp
KeyCorp Stock Down 0.9%
NYSE:KEY traded down $0.15 on Thursday, reaching $16.08. The stock had a trading volume of 10,316,157 shares, compared to its average volume of 12,964,485. The company has a 50-day moving average of $15.24 and a 200 day moving average of $16.56. 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 cap of $17.62 billion, a P/E ratio of -53.60, a price-to-earnings-growth ratio of 0.65 and a beta of 1.09. KeyCorp has a 12-month low of $12.73 and a 12-month high of $20.04.
KeyCorp (NYSE:KEY - Get Free Report) last released its quarterly earnings results on Thursday, April 17th. The financial services provider reported $0.33 EPS for the quarter, topping the consensus estimate of $0.32 by $0.01. The business had revenue of $1.77 billion for 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 firm posted $0.20 earnings per share. On average, research analysts predict that KeyCorp will post 1.5 earnings per share for the current year.
KeyCorp Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Tuesday, May 27th will be given a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 5.10%. The ex-dividend date is Tuesday, May 27th. KeyCorp's payout ratio is currently -482.35%.
KeyCorp declared that its board has approved a share repurchase program on Thursday, March 13th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the financial services provider to reacquire up to 6% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's board of directors believes its stock is undervalued.
Insider Buying and Selling
In other KeyCorp news, Director Carlton L. Highsmith sold 5,000 shares of the firm's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $16.60, for a total transaction of $83,000.00. Following the completion of the transaction, the director now directly owns 37,177 shares of the company's stock, valued at $617,138.20. This trade represents a 11.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mohit Ramani bought 10,000 shares of KeyCorp stock in a transaction on Monday, April 21st. The shares were purchased at an average cost of $13.75 per share, for a total transaction of $137,500.00. Following the acquisition, the insider now owns 10,000 shares in the company, valued at $137,500. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.52% of the company's stock.
KeyCorp Profile
(
Free Report)
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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