ProShare Advisors LLC Acquires 34,045 Shares of KeyCorp (NYSE:KEY)

ProShare Advisors LLC raised its holdings in KeyCorp (NYSE:KEY - Free Report) by 19.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 212,430 shares of the financial services provider's stock after buying an additional 34,045 shares during the period. ProShare Advisors LLC's holdings in KeyCorp were worth $3,641,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Whittier Trust Co. increased its stake in shares of KeyCorp by 110.3% during the fourth quarter. Whittier Trust Co. now owns 1,525 shares of the financial services provider's stock worth $26,000 after purchasing an additional 800 shares during the period. Ethos Financial Group LLC bought a new position in shares of KeyCorp during the fourth quarter worth approximately $27,000. SBI Securities Co. Ltd. bought a new position in shares of KeyCorp during the fourth quarter worth approximately $34,000. TCTC Holdings LLC increased its stake in shares of KeyCorp by 38.6% during the fourth quarter. TCTC Holdings LLC now owns 2,195 shares of the financial services provider's stock worth $38,000 after purchasing an additional 611 shares during the period. Finally, Optiver Holding B.V. bought a new position in shares of KeyCorp during the fourth quarter worth approximately $42,000. Institutional investors own 79.69% of the company's stock.

Wall Street Analysts Forecast Growth

KEY has been the topic of a number of recent research reports. Keefe, Bruyette & Woods lowered their target price on KeyCorp from $20.00 to $18.00 and set an "outperform" rating on the stock in a research note on Monday, April 21st. DA Davidson lowered their target price on KeyCorp from $22.00 to $21.00 and set a "buy" rating on the stock in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. lowered their price objective on KeyCorp from $18.50 to $16.50 and set a "neutral" rating on the stock in a research note on Thursday, April 3rd. Royal Bank of Canada restated an "outperform" rating on shares of KeyCorp in a research note on Thursday, April 17th. Finally, TD Cowen assumed coverage on KeyCorp in a research note on Thursday, May 15th. They set a "hold" rating and a $18.00 price objective on the stock. Ten equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $18.92.

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 transaction of $83,000.00. Following 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Mohit Ramani acquired 10,000 shares of the business's stock in a transaction that occurred on Monday, April 21st. The shares were purchased at an average cost 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 $137,500. This 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 company insiders.

KeyCorp Trading Down 1.0%

Shares of KEY stock opened at $16.47 on Tuesday. The stock's fifty day moving average price is $15.17 and its two-hundred day moving average price is $16.88. The company has a market cap of $18.05 billion, a PE ratio of -54.90, a P/E/G ratio of 0.65 and a beta of 1.08. KeyCorp has a fifty-two week low of $12.73 and a fifty-two week high of $20.04. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.84 and a current ratio of 0.85.

KeyCorp (NYSE:KEY - Get Free Report) last issued its earnings results on Thursday, April 17th. The financial services provider reported $0.33 earnings per share for the quarter, beating analysts' consensus estimates of $0.32 by $0.01. The firm had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.77 billion. KeyCorp had a positive return on equity of 8.73% and a negative net margin of 2.52%. During the same quarter last year, the business posted $0.20 EPS. Equities analysts predict that KeyCorp will post 1.5 EPS 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 annualized dividend and a dividend yield of 4.98%. The ex-dividend date of this dividend is Tuesday, May 27th. KeyCorp's dividend payout ratio (DPR) is -482.35%.

KeyCorp announced that its board has authorized a stock buyback plan 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 plans are generally an indication that the company's leadership believes its stock is undervalued.

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.

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