KeyCorp (NYSE:KEY) Shares Sold by Two Sigma Investments LP

Two Sigma Investments LP lowered its stake in shares of KeyCorp (NYSE:KEY - Free Report) by 28.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 109,111 shares of the financial services provider's stock after selling 43,822 shares during the period. Two Sigma Investments LP's holdings in KeyCorp were worth $1,870,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Principal Financial Group Inc. boosted its position in shares of KeyCorp by 3.4% during the 4th quarter. Principal Financial Group Inc. now owns 1,117,238 shares of the financial services provider's stock worth $19,149,000 after purchasing an additional 36,424 shares during the period. Truist Financial Corp lifted its holdings in KeyCorp by 27.1% during the 4th 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 in the last quarter. Proficio Capital Partners LLC acquired a new stake in KeyCorp during the 4th quarter worth approximately $1,519,000. MFG Wealth Management Inc. acquired a new stake in KeyCorp during the 4th quarter worth approximately $1,181,000. Finally, Steward Partners Investment Advisory LLC lifted its holdings in KeyCorp by 6.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 29,876 shares of the financial services provider's stock worth $512,000 after buying an additional 1,775 shares in the last quarter. Hedge funds and other institutional investors own 79.69% of the company's stock.

Insider Activity at KeyCorp

In related news, Director Carlton L. Highsmith sold 5,000 shares of the firm's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $16.60, for a total value 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Mohit Ramani acquired 10,000 shares of KeyCorp stock in a transaction that occurred on Monday, April 21st. The stock was acquired at an average price 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 represents a ∞ increase in their position. The disclosure for this purchase can be found here. 0.52% of the stock is currently owned by company insiders.

KeyCorp Trading Down 0.7%

NYSE KEY traded down $0.12 during trading hours on Wednesday, reaching $15.91. The company's stock had a trading volume of 9,922,960 shares, compared to its average volume of 12,978,295. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.85 and a quick ratio of 0.84. KeyCorp has a 52 week low of $12.73 and a 52 week high of $20.04. The firm has a fifty day simple moving average of $15.12 and a 200-day simple moving average of $16.67. The stock has a market cap of $17.44 billion, a P/E ratio of -53.03, a P/E/G ratio of 0.65 and a beta of 1.10.

KeyCorp (NYSE:KEY - Get Free Report) last released its quarterly earnings data on Thursday, April 17th. The financial services provider reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.01. The company had revenue of $1.77 billion during the quarter, compared to analyst estimates 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 quarter in the previous year, the business posted $0.20 EPS. Equities analysts forecast that KeyCorp will post 1.5 earnings per share for the current fiscal year.

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

KeyCorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Tuesday, May 27th will be paid a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 5.15%. The ex-dividend date of this dividend is Tuesday, May 27th. KeyCorp's dividend payout ratio is currently -482.35%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on KEY. Evercore ISI set a $17.00 target price on shares of KeyCorp in a report on Monday, April 28th. Wells Fargo & Company restated an "overweight" rating on shares of KeyCorp in a report on Thursday, April 17th. Wall Street Zen 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. Finally, Keefe, Bruyette & Woods lowered their target price 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. Eleven analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $18.86.

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.