AHL Investment Management Inc. Makes New $728,000 Investment in KeyCorp (NYSE:KEY)

AHL Investment Management Inc. bought a new position in shares of KeyCorp (NYSE:KEY - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 45,550 shares of the financial services provider's stock, valued at approximately $728,000.

Several other institutional investors have also recently modified their holdings of KEY. Vanguard Group Inc. lifted its stake in shares of KeyCorp by 7.1% during the 4th quarter. Vanguard Group Inc. now owns 116,932,760 shares of the financial services provider's stock worth $2,004,228,000 after purchasing an additional 7,754,576 shares during the period. FMR LLC lifted its stake in shares of KeyCorp by 7.1% in the 4th quarter. FMR LLC now owns 44,431,526 shares of the financial services provider's stock valued at $761,556,000 after purchasing an additional 2,938,405 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of KeyCorp by 4.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 36,302,732 shares of the financial services provider's stock valued at $622,229,000 after purchasing an additional 1,645,296 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of KeyCorp by 4.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 33,058,682 shares of the financial services provider's stock worth $566,626,000 after purchasing an additional 1,452,179 shares during the period. Finally, Fuller & Thaler Asset Management Inc. increased its position in KeyCorp by 4.1% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 27,183,748 shares of the financial services provider's stock worth $465,929,000 after purchasing an additional 1,062,615 shares in the last quarter. 79.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Carlton L. Highsmith sold 5,000 shares of the stock in a transaction that occurred 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 sale, the director now directly owns 37,177 shares of the company's stock, valued at $617,138.20. This represents 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 the SEC website. Also, insider Mohit Ramani purchased 10,000 shares of the firm's stock in a transaction on Monday, April 21st. The stock was acquired at an average price of $13.75 per share, for a total transaction of $137,500.00. Following the transaction, the insider now owns 10,000 shares of the company's stock, valued at $137,500. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 0.52% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on KEY shares. Cowen started coverage on shares of KeyCorp in a research report on Wednesday, May 14th. They set a "hold" rating on the stock. Evercore ISI set a $17.00 target price on shares of KeyCorp in a report on Monday, April 28th. TD Cowen initiated coverage on shares of KeyCorp in a research report on Thursday, May 15th. They set a "hold" rating and a $18.00 price target for the company. Baird R W upgraded KeyCorp from a "hold" rating to a "strong-buy" rating in a report on Monday, April 7th. Finally, Citigroup restated a "buy" rating on shares of KeyCorp in a research note on Thursday, April 17th. Eleven equities 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 stock. According to MarketBeat, KeyCorp presently has an average rating of "Moderate Buy" and a consensus target price of $18.86.

KeyCorp Stock Performance

Shares of NYSE:KEY traded down $0.05 during trading on Monday, reaching $16.28. 9,965,431 shares of the company's stock traded hands, compared to its average volume of 14,080,670. The stock has a market capitalization 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 12 month low of $12.73 and a 12 month high of $20.04. The company has a 50 day moving average of $15.13 and a 200-day moving average of $16.59. 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 issued its quarterly earnings data 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. The business had revenue of $1.77 billion during the quarter, compared to the consensus estimate 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 previous year, the firm posted $0.20 earnings per share. On average, equities analysts expect that KeyCorp will post 1.5 EPS for the current year.

KeyCorp announced that its Board of Directors has approved a stock repurchase plan 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 shares through open market purchases. Shares buyback plans are usually an indication that the company's leadership believes its stock is undervalued.

KeyCorp Dividend Announcement

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 paid 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 is Tuesday, May 27th. KeyCorp's dividend payout ratio is presently -482.35%.

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.