KeyCorp (NYSE:KEY) Shares Purchased by Rhumbline Advisers

Rhumbline Advisers raised its holdings in shares of KeyCorp (NYSE:KEY - Free Report) by 10.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,214,178 shares of the financial services provider's stock after buying an additional 215,866 shares during the period. Rhumbline Advisers owned about 0.20% of KeyCorp worth $35,405,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of KeyCorp by 7.1% in the 4th quarter. Vanguard Group Inc. now owns 116,932,760 shares of the financial services provider's stock valued at $2,004,228,000 after purchasing an additional 7,754,576 shares during the period. FMR LLC increased its holdings in shares of KeyCorp by 7.1% during the fourth quarter. FMR LLC now owns 44,431,526 shares of the financial services provider's stock valued at $761,556,000 after acquiring an additional 2,938,405 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of KeyCorp by 4.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 36,302,732 shares of the financial services provider's stock worth $622,229,000 after purchasing an additional 1,645,296 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in KeyCorp by 4.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 33,058,682 shares of the financial services provider's stock worth $566,626,000 after purchasing an additional 1,452,179 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. boosted its stake in KeyCorp by 4.1% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 27,183,748 shares of the financial services provider's stock worth $465,929,000 after purchasing an additional 1,062,615 shares in the last quarter. 79.69% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Mohit Ramani acquired 10,000 shares of the company's stock in a transaction that occurred on Monday, April 21st. The shares were bought at an average price of $13.75 per share, with a total value of $137,500.00. Following the completion of the transaction, the insider now directly owns 10,000 shares in the company, valued at $137,500. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 sale, the director now directly owns 37,177 shares of the company's stock, valued at approximately $617,138.20. The trade was 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 owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. JPMorgan Chase & Co. decreased their target price on shares of KeyCorp from $18.50 to $16.50 and set a "neutral" rating for the company in a report on Thursday, April 3rd. Baird R W upgraded shares of KeyCorp from a "hold" rating to a "strong-buy" rating in a report on Monday, April 7th. Citigroup reiterated a "buy" rating on shares of KeyCorp in a research note on Thursday, April 17th. Keefe, Bruyette & Woods decreased their price target on KeyCorp from $20.00 to $18.00 and set an "outperform" rating for the company in a research note on Monday, April 21st. Finally, Truist Financial dropped their price objective on KeyCorp from $18.00 to $16.00 and set a "hold" rating on the stock in a research report on Tuesday, April 22nd. Eleven research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $18.86.

KeyCorp Trading Up 2.7%

NYSE KEY traded up $0.43 during trading hours on Friday, hitting $16.33. 8,923,936 shares of the company were exchanged, compared to its average volume of 12,975,840. The stock has a market cap of $17.90 billion, a PE ratio of -54.43, a price-to-earnings-growth ratio of 0.65 and a beta of 1.10. KeyCorp has a 52 week low of $12.73 and a 52 week high of $20.04. The stock has a 50-day moving average price of $15.12 and a 200 day moving average price of $16.64. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.77.

KeyCorp (NYSE:KEY - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $1.77 billion during the quarter, compared to the consensus estimate 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 last year, the firm earned $0.20 earnings per share. Analysts forecast that KeyCorp will post 1.5 earnings per share for the current fiscal year.

KeyCorp declared that its Board of Directors has authorized a stock buyback program on Thursday, March 13th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

KeyCorp Dividend Announcement

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 issued a $0.205 dividend. The ex-dividend date is Tuesday, May 27th. This represents a $0.82 annualized dividend and a dividend yield of 5.02%. KeyCorp's payout ratio is currently -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.