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KBC Group NV Has $9.79 Million Position in KeyCorp (NYSE:KEY)

KeyCorp logo with Finance background

KBC Group NV lifted its holdings in shares of KeyCorp (NYSE:KEY - Free Report) by 7.5% in the first quarter, according to its most recent filing with the SEC. The firm owned 612,518 shares of the financial services provider's stock after acquiring an additional 42,879 shares during the period. KBC Group NV owned approximately 0.06% of KeyCorp worth $9,794,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. TCTC Holdings LLC lifted its holdings 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 during the period. Signaturefd LLC lifted its holdings in shares of KeyCorp by 16.0% during the 4th quarter. Signaturefd LLC now owns 4,453 shares of the financial services provider's stock worth $76,000 after acquiring an additional 614 shares during the period. Modera Wealth Management LLC lifted its holdings in shares of KeyCorp by 3.9% during the 4th quarter. Modera Wealth Management LLC now owns 16,521 shares of the financial services provider's stock worth $283,000 after acquiring an additional 627 shares during the period. Integrated Wealth Concepts LLC lifted its holdings in shares of KeyCorp by 2.6% during the 4th quarter. Integrated Wealth Concepts LLC now owns 24,679 shares of the financial services provider's stock worth $423,000 after acquiring an additional 631 shares during the period. Finally, Centaurus Financial Inc. lifted its holdings in shares of KeyCorp by 11.2% during the 4th quarter. Centaurus Financial Inc. now owns 7,218 shares of the financial services provider's stock worth $124,000 after acquiring an additional 728 shares during the period. 79.69% of the stock is owned by institutional investors.

KeyCorp Trading Up 1.4%

Shares of NYSE KEY traded up $0.26 during mid-day trading on Friday, hitting $18.46. The company's stock had a trading volume of 13,695,000 shares, compared to its average volume of 13,073,208. The stock has a market cap of $20.23 billion, a price-to-earnings ratio of -108.56, a price-to-earnings-growth ratio of 0.69 and a beta of 1.11. 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 one year low of $12.73 and a one year high of $20.04. The company's fifty day simple moving average is $16.18 and its 200-day simple moving average is $16.33.

KeyCorp (NYSE:KEY - Get Free Report) last issued its 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 for the quarter, compared to analyst estimates of $1.77 billion. During the same quarter last year, the firm earned $0.20 EPS. On average, sell-side analysts anticipate that KeyCorp will post 1.5 earnings per share for the current fiscal year.

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

KeyCorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Tuesday, May 27th were paid a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 4.44%. The ex-dividend date of this dividend was Tuesday, May 27th. KeyCorp's payout ratio is -482.35%.

Insider Buying and Selling at KeyCorp

In related news, insider Mohit Ramani purchased 10,000 shares of the business's stock in a transaction on Monday, April 21st. The shares were purchased 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 owned 10,000 shares in the company, valued at $137,500. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Amy G. Brady sold 19,000 shares of KeyCorp stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $16.09, for a total transaction of $305,710.00. Following the completion of the transaction, the insider directly owned 82,523 shares in the company, valued at approximately $1,327,795.07. The trade was a 18.71% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.52% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on KEY. Bank of America raised their price objective on shares of KeyCorp from $18.00 to $20.00 and gave the stock a "buy" rating in a report on Monday, June 16th. Jefferies Financial Group started coverage on shares of KeyCorp in a research report on Wednesday, May 21st. They set a "hold" rating and a $18.00 target price for the company. Royal Bank Of Canada reiterated an "outperform" rating on shares of KeyCorp in a research report on Thursday, April 17th. Barclays dropped 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. Finally, Wall Street Zen upgraded shares of KeyCorp from a "sell" rating to a "hold" rating in a research report on Monday, April 21st. Thirteen analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $18.97.

Get Our Latest Stock Analysis on KEY

About KeyCorp

(Free Report)

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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Institutional Ownership by Quarter for KeyCorp (NYSE:KEY)

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