Cantor Fitzgerald Investment Advisors L.P. Has $1.79 Million Stock Position in KeyCorp (NYSE:KEY)

Cantor Fitzgerald Investment Advisors L.P. lessened its stake in shares of KeyCorp (NYSE:KEY - Free Report) by 51.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 111,741 shares of the financial services provider's stock after selling 120,269 shares during the period. Cantor Fitzgerald Investment Advisors L.P.'s holdings in KeyCorp were worth $1,787,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Whittier Trust Co. increased its position in shares of KeyCorp by 110.3% in the fourth quarter. Whittier Trust Co. now owns 1,525 shares of the financial services provider's stock worth $26,000 after acquiring an additional 800 shares in the last quarter. Ethos Financial Group LLC purchased a new position in KeyCorp during the 4th quarter worth approximately $27,000. Fourth Dimension Wealth LLC acquired a new stake in KeyCorp during the 4th quarter valued at $28,000. SBI Securities Co. Ltd. purchased a new stake in shares of KeyCorp in the fourth quarter valued at $34,000. Finally, TCTC Holdings LLC lifted its holdings in shares of 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 in the last quarter. 79.69% of the stock is owned by hedge funds and other institutional investors.

KeyCorp Stock Up 1.7%

KEY opened at $15.99 on Friday. The company has a market capitalization of $17.53 billion, a P/E ratio of -94.08, a P/E/G ratio of 0.60 and a beta of 1.09. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.84 and a quick ratio of 0.83. The firm's fifty day moving average price is $15.49 and its two-hundred day moving average price is $16.41. KeyCorp has a fifty-two week low of $12.73 and a fifty-two week high of $20.04.

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, beating analysts' consensus estimates 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 negative net margin of 0.12% and a positive return on equity of 9.43%. 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 announced a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Tuesday, May 27th were issued a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 5.13%. The ex-dividend date of this dividend was Tuesday, May 27th. KeyCorp's payout ratio is -482.35%.

KeyCorp declared that its Board of Directors has approved a stock buyback 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 shares through open market purchases. Shares buyback programs are typically a sign that the company's management believes its shares are undervalued.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Baird R W raised KeyCorp from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 7th. Bank of America upped their price objective on shares of KeyCorp from $18.00 to $20.00 and gave the company a "buy" rating in a research note on Monday. JPMorgan Chase & Co. lowered their price target on shares of KeyCorp from $18.50 to $16.50 and set a "neutral" rating on the stock in a report on Thursday, April 3rd. Jefferies Financial Group started coverage on KeyCorp in a research report on Wednesday, May 21st. They set a "hold" rating and a $18.00 price objective for the company. Finally, Keefe, Bruyette & Woods cut their price target on KeyCorp from $20.00 to $18.00 and set an "outperform" rating for the company in a research note on Monday, April 21st. Twelve research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $18.92.

Insider Activity

In other news, insider Mohit Ramani acquired 10,000 shares of KeyCorp stock in a transaction dated Monday, April 21st. The stock was bought at an average price of $13.75 per share, for a total transaction of $137,500.00. Following the completion of the acquisition, the insider now directly owns 10,000 shares in the company, valued at approximately $137,500. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Amy G. Brady sold 19,000 shares of the stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $16.09, for a total value of $305,710.00. Following the transaction, the insider now owns 82,523 shares in the company, valued at approximately $1,327,795.07. This trade represents a 18.71% decrease in their position. The disclosure for this sale can be found here. 0.52% of the stock is owned by corporate insiders.

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.

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