iSAM Funds UK Ltd Buys 21,766 Shares of KeyCorp (NYSE:KEY)

iSAM Funds UK Ltd boosted its stake in shares of KeyCorp (NYSE:KEY - Free Report) by 63.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 56,125 shares of the financial services provider's stock after purchasing an additional 21,766 shares during the quarter. iSAM Funds UK Ltd's holdings in KeyCorp were worth $962,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in KEY. Brookstone Capital Management boosted its position in KeyCorp by 6.3% during the fourth quarter. Brookstone Capital Management now owns 12,415 shares of the financial services provider's stock worth $213,000 after purchasing an additional 734 shares during the period. Park Avenue Securities LLC boosted its position in KeyCorp by 33.1% during the fourth quarter. Park Avenue Securities LLC now owns 30,137 shares of the financial services provider's stock worth $517,000 after purchasing an additional 7,497 shares during the period. Tallon Kerry Patrick bought a new position in KeyCorp during the fourth quarter worth $248,000. Merit Financial Group LLC boosted its position in KeyCorp by 153.7% during the fourth quarter. Merit Financial Group LLC now owns 58,407 shares of the financial services provider's stock worth $1,001,000 after purchasing an additional 35,385 shares during the period. Finally, Brooklyn Investment Group boosted its position in shares of KeyCorp by 20.9% in the fourth quarter. Brooklyn Investment Group now owns 5,814 shares of the financial services provider's stock valued at $100,000 after acquiring an additional 1,006 shares during the period. 79.69% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Mohit Ramani acquired 10,000 shares of the stock in a transaction dated 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 purchase, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Carlton L. Highsmith sold 5,000 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 37,177 shares of the company's stock, valued at $617,138.20. This represents a 11.85% decrease in their position. The disclosure for this sale can be found here. 0.52% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on KEY. Cowen began coverage on shares of KeyCorp in a research report on Wednesday, May 14th. They issued a "hold" rating for the company. StockNews.com raised shares of KeyCorp from a "sell" rating to a "hold" rating in a research report on Monday, April 21st. Citigroup reissued a "buy" rating on shares of KeyCorp in a research report on Thursday, April 17th. Wells Fargo & Company reissued an "overweight" rating on shares of KeyCorp in a research report on Thursday, April 17th. Finally, Barclays reduced their target price 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. Ten equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, KeyCorp has an average rating of "Moderate Buy" and a consensus target price of $18.92.

KeyCorp Stock Down 1.0%

Shares of NYSE KEY opened at $16.47 on Tuesday. 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 has a market cap of $18.05 billion, a price-to-earnings ratio of -54.90, a PEG ratio of 0.65 and a beta of 1.08. KeyCorp has a 12 month low of $12.73 and a 12 month high of $20.04. The stock has a 50-day moving average price of $15.17 and a two-hundred day moving average price of $16.88.

KeyCorp (NYSE:KEY - Get Free Report) last issued its earnings results on Thursday, April 17th. The financial services provider reported $0.33 EPS for the quarter, topping the consensus estimate of $0.32 by $0.01. The firm had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.77 billion. KeyCorp had a positive return on equity of 8.73% and a negative net margin of 2.52%. During the same quarter in the previous year, the firm earned $0.20 earnings per share. As a group, analysts forecast that KeyCorp will post 1.5 earnings per share for the current fiscal year.

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

KeyCorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Tuesday, May 27th will be paid a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 4.98%. The ex-dividend date of this dividend is Tuesday, May 27th. KeyCorp's dividend payout ratio is currently -482.35%.

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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