KeyCorp (NYSE:KEY) Shares Sold by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lowered its holdings in KeyCorp (NYSE:KEY - Free Report) by 48.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 96,903 shares of the financial services provider's stock after selling 89,561 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in KeyCorp were worth $1,661,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Whittier Trust Co. grew its position in shares of KeyCorp by 110.3% in the fourth quarter. Whittier Trust Co. now owns 1,525 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 800 shares during the period. Ethos Financial Group LLC acquired a new position in KeyCorp in the fourth quarter valued at $27,000. SBI Securities Co. Ltd. acquired a new position in KeyCorp in the fourth quarter valued at $34,000. TCTC Holdings LLC boosted its holdings in KeyCorp by 38.6% in the fourth quarter. TCTC Holdings LLC now owns 2,195 shares of the financial services provider's stock valued at $38,000 after acquiring an additional 611 shares during the last quarter. Finally, Optiver Holding B.V. acquired a new position in KeyCorp in the fourth quarter valued at $42,000. Hedge funds and other institutional investors own 79.69% of the company's stock.

KeyCorp Stock Up 0.6%

Shares of NYSE KEY traded up $0.10 during midday trading on Thursday, reaching $15.86. 3,541,986 shares of the company's stock were exchanged, compared to its average volume of 14,163,627. KeyCorp has a 52-week low of $12.73 and a 52-week high of $20.04. The stock has a market capitalization of $17.38 billion, a PE ratio of -52.84, a price-to-earnings-growth ratio of 0.65 and a beta of 1.08. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.84 and a current ratio of 0.85. The business's fifty day moving average price is $15.16 and its two-hundred day moving average price is $16.77.

KeyCorp (NYSE:KEY - Get Free Report) last announced its earnings results on Thursday, April 17th. The financial services provider reported $0.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 analyst estimates of $1.77 billion. During the same period in the previous year, the company earned $0.20 earnings per share. Analysts forecast that KeyCorp will post 1.5 EPS for the current year.

KeyCorp declared that its Board of Directors has approved a share 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 purchase up to 6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its stock is undervalued.

KeyCorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders 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 dividend yield of 5.17%. The ex-dividend date of this dividend is Tuesday, May 27th. KeyCorp's payout ratio is -482.35%.

Insider Buying and Selling

In related news, Director Carlton L. Highsmith sold 5,000 shares of KeyCorp 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 completion of the transaction, the director now directly owns 37,177 shares in the company, valued at approximately $617,138.20. This trade represents a 11.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mohit Ramani purchased 10,000 shares of the firm's stock in a transaction that occurred on Monday, April 21st. The stock was purchased at an average price of $13.75 per share, with a total value of $137,500.00. Following the completion of the purchase, the insider now directly owns 10,000 shares of the company's stock, valued at approximately $137,500. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 0.52% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. JPMorgan Chase & Co. reduced their target price on KeyCorp from $18.50 to $16.50 and set a "neutral" rating on the stock in a report on Thursday, April 3rd. Morgan Stanley reiterated an "equal weight" rating on shares of KeyCorp in a report on Thursday, April 17th. Royal Bank of Canada reiterated an "outperform" rating on shares of KeyCorp in a report on Thursday, April 17th. Cowen assumed coverage on KeyCorp in a research report on Wednesday, May 14th. They issued a "hold" rating on the stock. Finally, Jefferies Financial Group assumed coverage on KeyCorp in a research report on Wednesday, May 21st. They issued a "hold" rating and a $18.00 price objective on the stock. 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 stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $18.86.

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.