Mn Services Vermogensbeheer B.V. trimmed its position in shares of KeyCorp (NYSE:KEY - Free Report) by 9.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 340,410 shares of the financial services provider's stock after selling 35,300 shares during the quarter. Mn Services Vermogensbeheer B.V.'s holdings in KeyCorp were worth $5,443,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its stake in KeyCorp by 3.4% during 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 grew its stake in KeyCorp by 27.1% during 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 bought a new stake in shares of KeyCorp during the fourth quarter valued at approximately $1,519,000. Steward Partners Investment Advisory LLC grew its stake in shares of KeyCorp by 6.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 29,876 shares of the financial services provider's stock valued at $512,000 after purchasing an additional 1,775 shares during the last quarter. Finally, Tallon Kerry Patrick bought a new stake in shares of KeyCorp during the fourth quarter valued at approximately $248,000. 79.69% of the stock is owned by institutional investors.
Insider Buying and Selling
In related news, Director Carlton L. Highsmith sold 5,000 shares of KeyCorp stock in a transaction that occurred on Tuesday, May 13th. The stock was 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 directly 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Mohit Ramani acquired 10,000 shares of the stock in a transaction on Monday, April 21st. The shares were bought at an average price of $13.75 per share, for a total transaction of $137,500.00. Following the purchase, 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 disclosure for this purchase can be found here. 0.52% of the stock is currently owned by insiders.
KeyCorp Price Performance
NYSE:KEY opened at $15.72 on Wednesday. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.75. The stock's 50 day moving average price is $15.42 and its two-hundred day moving average price is $16.43. The firm has a market capitalization of $17.22 billion, a price-to-earnings ratio of -92.44, a P/E/G ratio of 0.60 and a beta of 1.09. KeyCorp has a 12-month low of $12.73 and a 12-month high of $20.04.
KeyCorp (NYSE:KEY - Get Free Report) last released its quarterly earnings results on Thursday, April 17th. The financial services provider reported $0.33 earnings per share 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 analysts' expectations of $1.77 billion. KeyCorp had a positive return on equity of 9.43% and a negative net margin of 0.12%. During the same period last year, the firm posted $0.20 EPS. On average, analysts anticipate that KeyCorp will post 1.5 earnings per share for the current year.
KeyCorp declared that its board has approved a share buyback program on Thursday, March 13th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 6% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors believes its shares are undervalued.
KeyCorp Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Tuesday, May 27th were issued a dividend of $0.205 per share. The ex-dividend date of this dividend was Tuesday, May 27th. This represents a $0.82 annualized dividend and a yield of 5.22%. KeyCorp's payout ratio is currently -482.35%.
Wall Street Analysts Forecast Growth
Several analysts have recently commented on the stock. Evercore ISI set a $17.00 price target on shares of KeyCorp in a research note on Monday, April 28th. Truist Financial decreased their price target on shares of KeyCorp from $18.00 to $16.00 and set a "hold" rating on the stock in a research note on Tuesday, April 22nd. Royal Bank Of Canada restated an "outperform" rating on shares of KeyCorp in a report on Thursday, April 17th. Barclays cut 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. Finally, Wall Street Zen upgraded shares of KeyCorp from a "sell" rating to a "hold" rating in a report on Monday, April 21st. Eleven equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $18.92.
Read Our Latest Report on KeyCorp
About KeyCorp
(
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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