IFM Investors Pty Ltd Purchases 21,789 Shares of KeyCorp (NYSE:KEY)

IFM Investors Pty Ltd lifted its stake in KeyCorp (NYSE:KEY - Free Report) by 15.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 165,629 shares of the financial services provider's stock after buying an additional 21,789 shares during the period. IFM Investors Pty Ltd's holdings in KeyCorp were worth $2,774,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC acquired a new stake in KeyCorp during the 4th quarter worth about $476,000. SBI Securities Co. Ltd. bought a new stake in shares of KeyCorp in the 4th quarter worth approximately $34,000. Steward Partners Investment Advisory LLC raised its holdings in shares of KeyCorp by 6.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 29,876 shares of the financial services provider's stock worth $512,000 after purchasing an additional 1,775 shares during the period. Assetmark Inc. raised its holdings in KeyCorp by 2,232.5% during the 4th quarter. Assetmark Inc. now owns 21,132 shares of the financial services provider's stock valued at $362,000 after acquiring an additional 20,226 shares during the period. Finally, M&T Bank Corp raised its holdings in KeyCorp by 15.4% during the 4th quarter. M&T Bank Corp now owns 50,208 shares of the financial services provider's stock valued at $861,000 after acquiring an additional 6,701 shares during the period. 79.69% of the stock is currently owned by institutional investors.

KeyCorp Stock Performance

KeyCorp stock opened at $18.31 on Tuesday. The company has a market cap of $20.07 billion, a PE ratio of -107.71, a P/E/G ratio of 0.69 and a beta of 1.11. The company has a fifty day moving average price of $16.25 and a two-hundred day moving average price of $16.33. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.84 and a quick ratio of 0.83. KeyCorp has a 12 month low of $12.73 and a 12 month high of $20.04.

KeyCorp (NYSE:KEY - Get Free Report) last announced its quarterly earnings results on Thursday, April 17th. The financial services provider reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.01. KeyCorp had a negative net margin of 0.12% and a positive return on equity of 9.43%. The company had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter in the previous year, the company posted $0.20 earnings per share. Research analysts expect that KeyCorp will post 1.5 earnings per share for the current year.

KeyCorp declared that its board has initiated a stock repurchase program 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 stock through open market purchases. Stock buyback programs are usually a sign that the company's board of directors believes its stock is undervalued.

KeyCorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Tuesday, May 27th were issued a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 4.48%. The ex-dividend date was Tuesday, May 27th. KeyCorp's payout ratio is -482.35%.

Insider Buying and Selling at KeyCorp

In other KeyCorp news, Director Carlton L. Highsmith sold 5,000 shares of the 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 transaction, the director owned 37,177 shares in the company, valued at $617,138.20. This trade represents a 11.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at 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 shares were sold at an average price of $16.09, for a total value of $305,710.00. Following the completion of the sale, the insider directly owned 82,523 shares of the company's stock, valued at $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. 0.52% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on KEY shares. Citigroup reiterated a "buy" rating on shares of KeyCorp in a research report on Thursday, April 17th. Bank of America raised their target price on shares of KeyCorp from $18.00 to $20.00 and gave the company a "buy" rating in a research note on Monday, June 16th. Barclays reduced their price target on shares of KeyCorp from $21.00 to $20.00 and set an "equal weight" rating for the company in a research report on Monday, April 21st. Evercore ISI set a $17.00 price target on shares of KeyCorp in a research note on Monday, April 28th. Finally, Royal Bank Of Canada restated an "outperform" rating on shares of KeyCorp in a report on Thursday, April 17th. Thirteen investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, KeyCorp has an average rating of "Hold" and an average target price of $18.97.

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.

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