Asset Management One Co. Ltd. Acquires 15,367 Shares of KeyCorp (NYSE:KEY)

Asset Management One Co. Ltd. grew its holdings in KeyCorp (NYSE:KEY - Free Report) by 4.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 379,514 shares of the financial services provider's stock after purchasing an additional 15,367 shares during the period. Asset Management One Co. Ltd.'s holdings in KeyCorp were worth $6,068,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Proficio Capital Partners LLC bought a new position in shares of KeyCorp in the 4th quarter valued at $1,519,000. Steward Partners Investment Advisory LLC grew its position in KeyCorp by 6.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 29,876 shares of the financial services provider's stock worth $512,000 after acquiring an additional 1,775 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in KeyCorp during the 4th quarter worth $34,000. Blue Trust Inc. grew its position in KeyCorp by 41.9% during the 1st quarter. Blue Trust Inc. now owns 20,786 shares of the financial services provider's stock worth $332,000 after acquiring an additional 6,135 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in KeyCorp during the 4th quarter worth $42,827,000. Institutional investors own 79.69% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Bank of America boosted their price objective on KeyCorp from $18.00 to $20.00 and gave the stock a "buy" rating in a research report on Monday, June 16th. JPMorgan Chase & Co. reduced their price objective on KeyCorp from $18.50 to $16.50 and set a "neutral" rating on the stock in a research report on Thursday, April 3rd. Morgan Stanley reaffirmed an "equal weight" rating on shares of KeyCorp in a report on Thursday, April 17th. Cowen initiated coverage on KeyCorp in a report on Wednesday, May 14th. They set a "hold" rating on the stock. Finally, Truist Financial cut their target price on KeyCorp from $18.00 to $16.00 and set a "hold" rating on the stock in a report on Tuesday, April 22nd. Twelve research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, KeyCorp has a consensus rating of "Moderate Buy" and an average target price of $18.92.

KeyCorp Stock Up 0.5%

KEY stock opened at $17.23 on Friday. The stock's 50 day simple moving average is $15.81 and its 200 day simple moving average is $16.32. KeyCorp has a fifty-two week low of $12.73 and a fifty-two week high of $20.04. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.83 and a current ratio of 0.84. The company has a market cap of $18.88 billion, a P/E ratio of -101.35, a price-to-earnings-growth ratio of 0.64 and a beta of 1.09.

KeyCorp (NYSE:KEY - Get Free Report) last posted its quarterly earnings results on Thursday, April 17th. The financial services provider reported $0.33 earnings per share 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 the consensus estimate of $1.77 billion. KeyCorp had a positive return on equity of 9.43% and a negative net margin of 0.12%. During the same period in the prior year, the business earned $0.20 EPS. On average, research analysts expect that KeyCorp will post 1.5 earnings per share for the current fiscal year.

KeyCorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Tuesday, May 27th were issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 4.76%. The ex-dividend date was Tuesday, May 27th. KeyCorp's dividend payout ratio is currently -482.35%.

KeyCorp declared that its board has initiated a stock repurchase plan on Thursday, March 13th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the financial services provider to repurchase up to 6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's leadership believes its stock is undervalued.

Insiders Place Their Bets

In other KeyCorp news, Director Carlton L. Highsmith sold 5,000 shares of the business'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 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 approximately $617,138.20. The trade was a 11.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Amy G. Brady sold 19,000 shares of the company's stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $16.09, for a total value of $305,710.00. Following the completion of the transaction, the insider now directly owns 82,523 shares of the company's stock, valued at approximately $1,327,795.07. This represents a 18.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.52% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.