LifeWealth Investments LLC purchased a new position in KeyCorp (NYSE:KEY - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 21,136 shares of the financial services provider's stock, valued at approximately $362,000.
Several other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings 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 worth $2,004,228,000 after purchasing an additional 7,754,576 shares during the last quarter. FMR LLC lifted its holdings in shares of KeyCorp by 7.1% in the 4th quarter. FMR LLC now owns 44,431,526 shares of the financial services provider's stock worth $761,556,000 after purchasing an additional 2,938,405 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in 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 valued at $622,229,000 after acquiring an additional 1,645,296 shares during the period. Charles Schwab Investment Management Inc. increased its position 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 valued at $566,626,000 after acquiring an additional 1,452,179 shares during the period. Finally, Fuller & Thaler Asset Management Inc. increased its position 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 valued at $465,929,000 after acquiring an additional 1,062,615 shares during the period. Institutional investors own 79.69% of the company's stock.
Wall Street Analysts Forecast Growth
Several research firms recently commented on KEY. Wells Fargo & Company restated an "overweight" rating on shares of KeyCorp in a research report on Thursday, April 17th. Evercore ISI set a $17.00 price target on KeyCorp in a research report on Monday, April 28th. Baird R W upgraded KeyCorp from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 7th. Royal Bank of Canada reiterated an "outperform" rating on shares of KeyCorp in a research report on Thursday, April 17th. Finally, Keefe, Bruyette & Woods lowered their price target on KeyCorp from $20.00 to $18.00 and set an "outperform" rating on the stock in a research report on Monday, April 21st. Eleven investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $18.86.
Get Our Latest Report on KEY
KeyCorp Price Performance
Shares of KEY traded up $0.18 on Thursday, hitting $15.94. The company's stock had a trading volume of 15,588,550 shares, compared to its average volume of 13,038,971. The company has a market capitalization of $17.47 billion, a PE ratio of -53.14, a PEG ratio of 0.65 and a beta of 1.08. 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 fifty-two week low of $12.73 and a fifty-two week high of $20.04. The company has a 50 day moving average price of $15.16 and a 200 day moving average price of $16.77.
KeyCorp (NYSE:KEY - Get Free Report) last announced its earnings results on Thursday, April 17th. The financial services provider reported $0.33 EPS for the quarter, topping the consensus estimate of $0.32 by $0.01. KeyCorp had a positive return on equity of 8.73% and a negative net margin of 2.52%. The business had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same period in the previous year, the business earned $0.20 EPS. On average, research analysts anticipate that KeyCorp will post 1.5 earnings per share for the current fiscal year.
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 issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 5.14%. The ex-dividend date of this dividend is Tuesday, May 27th. KeyCorp's dividend payout ratio is currently -482.35%.
KeyCorp declared that its Board of Directors has authorized a stock buyback plan on Thursday, March 13th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.
Insider Activity at KeyCorp
In other news, insider Mohit Ramani bought 10,000 shares of the stock in a transaction on Monday, April 21st. The stock was purchased at an average price of $13.75 per share, for a total transaction of $137,500.00. Following the acquisition, the insider now owns 10,000 shares in the company, valued at approximately $137,500. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, 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 stock was sold at an average price of $16.60, for a total value of $83,000.00. Following the transaction, the director now owns 37,177 shares of the company's stock, valued at approximately $617,138.20. This trade represents a 11.85% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.52% of the company's stock.
KeyCorp Profile
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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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