Janney Montgomery Scott LLC Acquires 60,401 Shares of KeyCorp (NYSE:KEY)

Janney Montgomery Scott LLC lifted its position in KeyCorp (NYSE:KEY - Free Report) by 57.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 166,262 shares of the financial services provider's stock after purchasing an additional 60,401 shares during the quarter. Janney Montgomery Scott LLC's holdings in KeyCorp were worth $2,659,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of KEY. Whittier Trust Co. lifted its stake in KeyCorp by 110.3% in the fourth quarter. Whittier Trust Co. now owns 1,525 shares of the financial services provider's stock worth $26,000 after purchasing an additional 800 shares during the last quarter. Ethos Financial Group LLC bought a new stake in KeyCorp in the 4th quarter worth $27,000. Fourth Dimension Wealth LLC purchased a new position in shares of KeyCorp in the fourth quarter valued at about $28,000. SBI Securities Co. Ltd. bought a new position in shares of KeyCorp during the fourth quarter valued at about $34,000. Finally, TCTC Holdings LLC boosted its holdings in shares of KeyCorp by 38.6% during the fourth quarter. TCTC Holdings LLC now owns 2,195 shares of the financial services provider's stock worth $38,000 after purchasing an additional 611 shares during the period. 79.69% of the stock is currently owned by institutional investors.

Insider Transactions at KeyCorp

In other KeyCorp news, insider Mohit Ramani purchased 10,000 shares of the stock in a transaction dated Monday, April 21st. The shares were purchased at an average cost of $13.75 per share, with a total value of $137,500.00. Following the completion of the acquisition, the insider now directly owns 10,000 shares in the company, valued at $137,500. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Amy G. Brady sold 19,000 shares of the company's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $16.09, for a total transaction of $305,710.00. Following the transaction, the insider now owns 82,523 shares in the company, valued at $1,327,795.07. This represents 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.

Wall Street Analyst Weigh In

Several research firms have weighed in on KEY. Royal Bank Of Canada reiterated an "outperform" rating on shares of KeyCorp in a report on Thursday, April 17th. Evercore ISI set a $17.00 price target on KeyCorp in a research note on Monday, April 28th. Baird R W upgraded shares of KeyCorp from a "hold" rating to a "strong-buy" rating in a report on Monday, April 7th. Barclays decreased their price objective on shares of KeyCorp from $21.00 to $20.00 and set an "equal weight" rating for the company in a report on Monday, April 21st. Finally, Jefferies Financial Group started coverage on shares of KeyCorp in a research report on Wednesday, May 21st. They issued a "hold" rating and a $18.00 target price for the company. Twelve analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $18.92.

KeyCorp Stock Up 0.5%

NYSE:KEY traded up $0.08 during trading hours on Friday, reaching $17.23. 21,122,848 shares of the company traded hands, compared to its average volume of 12,939,808. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.75. The business's 50-day moving average price is $15.81 and its two-hundred day moving average price is $16.32. KeyCorp has a 1 year low of $12.73 and a 1 year high of $20.04. The stock has a market capitalization of $18.88 billion, a P/E ratio of -101.35, a P/E/G ratio of 0.64 and a beta of 1.09.

KeyCorp (NYSE:KEY - Get Free Report) last posted its quarterly earnings results on Thursday, April 17th. The financial services provider reported $0.33 earnings per share (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 analyst estimates of $1.77 billion. KeyCorp had a positive return on equity of 9.43% and a negative net margin of 0.12%. During the same quarter in the previous year, the firm earned $0.20 EPS. Analysts predict that KeyCorp will post 1.5 earnings per share for the current year.

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

KeyCorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Tuesday, May 27th were issued a $0.205 dividend. The ex-dividend date was Tuesday, May 27th. This represents a $0.82 annualized dividend and a yield of 4.76%. KeyCorp's dividend payout ratio (DPR) is presently -482.35%.

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.