KeyCorp (NYSE:KEY) Shares Sold by GTS Securities LLC

GTS Securities LLC reduced its stake in KeyCorp (NYSE:KEY - Free Report) by 87.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,399 shares of the financial services provider's stock after selling 200,619 shares during the period. GTS Securities LLC's holdings in KeyCorp were worth $487,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Whittier Trust Co. grew 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 worth $26,000 after buying an additional 800 shares in the last quarter. Ethos Financial Group LLC bought a new stake in shares of KeyCorp in the 4th quarter valued at about $27,000. Fourth Dimension Wealth LLC bought a new stake in shares of KeyCorp in the 4th quarter valued at about $28,000. SBI Securities Co. Ltd. bought a new stake in shares of KeyCorp in the 4th quarter valued at about $34,000. Finally, TCTC Holdings LLC raised its stake 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 acquiring an additional 611 shares in the last quarter. Institutional investors own 79.69% of the company's stock.

Analysts Set New Price Targets

KEY has been the subject of several recent analyst reports. Evercore ISI set a $17.00 price objective on shares of KeyCorp in a research note on Monday, April 28th. 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. TD Cowen began coverage on shares of KeyCorp in a report on Thursday, May 15th. They set a "hold" rating and a $18.00 price target on the stock. Keefe, Bruyette & Woods reduced their price objective on shares of KeyCorp from $20.00 to $18.00 and set an "outperform" rating for the company in a research report on Monday, April 21st. Finally, Wells Fargo & Company reiterated an "overweight" rating on shares of KeyCorp in a research report 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 issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $18.86.

Insiders Place Their Bets

In related 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 value of $83,000.00. Following the transaction, the director now directly owns 37,177 shares in the company, valued at $617,138.20. This trade represents a 11.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Mohit Ramani acquired 10,000 shares of the stock in a transaction that occurred on Monday, April 21st. The stock was purchased at an average price of $13.75 per share, for a total transaction of $137,500.00. Following the completion of the transaction, 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. 0.52% of the stock is owned by corporate insiders.

KeyCorp Trading Down 0.6%

KEY stock traded down $0.10 during mid-day trading on Friday, hitting $15.85. 16,412,751 shares of the company were exchanged, compared to its average volume of 13,043,170. The business has a fifty day simple moving average of $15.14 and a 200-day simple moving average of $16.73. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.77. KeyCorp has a 12-month low of $12.73 and a 12-month high of $20.04. The firm has a market capitalization of $17.37 billion, a P/E ratio of -52.83, a PEG ratio of 0.65 and a beta of 1.08.

KeyCorp (NYSE:KEY - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The financial services provider reported $0.33 EPS for the quarter, beating the consensus estimate of $0.32 by $0.01. The business had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.77 billion. KeyCorp had a negative net margin of 2.52% and a positive return on equity of 8.73%. During the same quarter last year, the firm posted $0.20 earnings per share. On average, equities research analysts predict that KeyCorp will post 1.5 earnings per share for the current fiscal year.

KeyCorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Tuesday, May 27th will be issued a $0.205 dividend. The ex-dividend date is Tuesday, May 27th. This represents a $0.82 annualized dividend and a yield of 5.17%. KeyCorp's dividend payout ratio (DPR) is -482.35%.

KeyCorp announced that its Board of Directors has approved a stock repurchase program on Thursday, March 13th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board believes its shares are undervalued.

About KeyCorp

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.