Janus Henderson Group PLC Increases Stock Holdings in KeyCorp (NYSE:KEY)

Janus Henderson Group PLC grew its stake in KeyCorp (NYSE:KEY - Free Report) by 19.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 126,784 shares of the financial services provider's stock after buying an additional 20,771 shares during the period. Janus Henderson Group PLC's holdings in KeyCorp were worth $2,174,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. raised its holdings in shares of KeyCorp by 3.4% in the fourth quarter. Principal Financial Group Inc. now owns 1,117,238 shares of the financial services provider's stock worth $19,149,000 after buying an additional 36,424 shares during the last quarter. Truist Financial Corp raised its holdings in shares of KeyCorp by 27.1% in the fourth quarter. Truist Financial Corp now owns 95,856 shares of the financial services provider's stock worth $1,643,000 after buying an additional 20,424 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in shares of KeyCorp in the fourth quarter worth $1,519,000. Hantz Financial Services Inc. boosted its holdings in shares of KeyCorp by 3.5% in the 4th quarter. Hantz Financial Services Inc. now owns 452,830 shares of the financial services provider's stock valued at $7,762,000 after acquiring an additional 15,487 shares during the last quarter. Finally, MFG Wealth Management Inc. purchased a new stake in shares of KeyCorp in the 4th quarter valued at $1,181,000. Hedge funds and other institutional investors own 79.69% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on KEY shares. Keefe, Bruyette & Woods dropped their price objective on shares of KeyCorp from $20.00 to $18.00 and set an "outperform" rating on the stock in a report on Monday, April 21st. Barclays dropped their price objective on shares of KeyCorp from $21.00 to $20.00 and set an "equal weight" rating on the stock in a report on Monday, April 21st. Baird R W raised shares of KeyCorp from a "hold" rating to a "strong-buy" rating in a report on Monday, April 7th. Royal Bank of Canada reaffirmed an "outperform" rating on shares of KeyCorp in a report on Thursday, April 17th. Finally, TD Cowen started coverage on shares of KeyCorp in a report on Thursday, May 15th. They issued a "hold" rating and a $18.00 price objective on the stock. Eleven analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $18.86.

KeyCorp Price Performance

NYSE:KEY traded up $0.11 during trading hours on Tuesday, reaching $15.76. 12,084,285 shares of the company were exchanged, compared to its average volume of 12,983,080. 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 stock's 50-day moving average is $15.17 and its 200-day moving average is $16.78. The firm has a market cap of $17.27 billion, a PE ratio of -52.53, a price-to-earnings-growth ratio of 0.65 and a beta of 1.08. KeyCorp has a twelve month low of $12.73 and a twelve month high of $20.04.

KeyCorp (NYSE:KEY - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The financial services provider reported $0.33 earnings per share for the quarter, topping analysts' consensus estimates of $0.32 by $0.01. The company had revenue of $1.77 billion during the quarter, compared to analysts' expectations 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 period in the prior year, the business posted $0.20 earnings per share. On average, sell-side analysts anticipate that KeyCorp will post 1.5 earnings per share for the current fiscal year.

KeyCorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Tuesday, May 27th will be given a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 5.20%. The ex-dividend date is Tuesday, May 27th. KeyCorp's dividend payout ratio is presently -482.35%.

KeyCorp announced that its Board of Directors has approved a share buyback plan on Thursday, March 13th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the financial services provider to repurchase 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.

Insiders Place Their Bets

In other KeyCorp news, insider Mohit Ramani bought 10,000 shares of KeyCorp stock in a transaction dated Monday, April 21st. The stock was acquired at an average cost of $13.75 per share, for a total transaction of $137,500.00. Following the completion of the transaction, the insider now directly owns 10,000 shares of the company's stock, valued at approximately $137,500. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Carlton L. Highsmith sold 5,000 shares of the stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $16.60, for a total transaction of $83,000.00. Following the completion of the sale, the director now owns 37,177 shares of the company's stock, valued at $617,138.20. This trade represents a 11.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.52% of the stock is currently owned by company insiders.

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.