GAMMA Investing LLC Boosts Holdings in KeyCorp (NYSE:KEY)

GAMMA Investing LLC boosted its position in KeyCorp (NYSE:KEY - Free Report) by 1,652.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 533,091 shares of the financial services provider's stock after buying an additional 502,678 shares during the period. GAMMA Investing LLC's holdings in KeyCorp were worth $8,524,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. Whittier Trust Co. lifted its stake in shares of KeyCorp by 110.3% in the 4th quarter. Whittier Trust Co. now owns 1,525 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 800 shares during the period. Ethos Financial Group LLC bought a new stake in KeyCorp in the fourth quarter worth approximately $27,000. Fourth Dimension Wealth LLC acquired a new position in KeyCorp in the fourth quarter valued at approximately $28,000. SBI Securities Co. Ltd. bought a new position in shares of KeyCorp during the 4th quarter worth approximately $34,000. Finally, TCTC Holdings LLC grew its position in shares of KeyCorp by 38.6% during the 4th quarter. TCTC Holdings LLC now owns 2,195 shares of the financial services provider's stock worth $38,000 after buying an additional 611 shares during the period. Institutional investors own 79.69% of the company's stock.

Insider Buying and Selling at KeyCorp

In other news, Director Carlton L. Highsmith sold 5,000 shares of KeyCorp 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 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Mohit Ramani bought 10,000 shares of the business's stock in a transaction that occurred on Monday, April 21st. The stock was bought at an average price of $13.75 per share, with a total value of $137,500.00. Following the completion of the transaction, the insider now directly owns 10,000 shares of the company's stock, valued at $137,500. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 0.52% of the company's stock.

KeyCorp Stock Performance

Shares of NYSE:KEY traded down $0.05 during mid-day trading on Monday, reaching $16.28. The company had a trading volume of 9,897,084 shares, compared to its average volume of 12,989,189. KeyCorp has a one year low of $12.73 and a one year high of $20.04. 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 company's 50-day moving average price is $15.13 and its 200-day moving average price is $16.59. The firm has a market cap of $17.84 billion, a price-to-earnings ratio of -54.27, a PEG ratio of 0.65 and a beta of 1.09.

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. KeyCorp had a positive return on equity of 8.73% and a negative net margin of 2.52%. The business had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same quarter in the previous year, the firm earned $0.20 EPS. As a group, equities research analysts anticipate that KeyCorp will post 1.5 EPS for the current fiscal year.

KeyCorp declared that its board has initiated a share repurchase program on Thursday, March 13th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the financial services provider to repurchase up to 6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's management believes its shares are undervalued.

KeyCorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Tuesday, May 27th will be paid a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 5.04%. The ex-dividend date of this dividend is Tuesday, May 27th. KeyCorp's dividend payout ratio is presently -482.35%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on KEY shares. Evercore ISI set a $17.00 target price on shares of KeyCorp in a research report on Monday, April 28th. JPMorgan Chase & Co. cut their price objective on shares of KeyCorp from $18.50 to $16.50 and set a "neutral" rating on the stock in a research report on Thursday, April 3rd. Jefferies Financial Group started coverage on KeyCorp in a research note on Wednesday, May 21st. They set a "hold" rating and a $18.00 price target on the stock. Truist Financial lowered their target price on KeyCorp from $18.00 to $16.00 and set a "hold" rating on the stock in a research report on Tuesday, April 22nd. Finally, Citigroup reiterated a "buy" rating on shares of KeyCorp in a report on Thursday, April 17th. Eleven 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. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $18.86.

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.