KeyCorp (NYSE:KEY) Shares Purchased by Salzhauer Michael

Salzhauer Michael lifted its position in shares of KeyCorp (NYSE:KEY - Free Report) by 28.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 95,851 shares of the financial services provider's stock after buying an additional 21,003 shares during the quarter. KeyCorp makes up about 0.6% of Salzhauer Michael's holdings, making the stock its 28th largest position. Salzhauer Michael's holdings in KeyCorp were worth $1,533,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in KEY. Whittier Trust Co. increased its holdings in KeyCorp by 110.3% during the 4th quarter. Whittier Trust Co. now owns 1,525 shares of the financial services provider's stock valued at $26,000 after acquiring an additional 800 shares in the last quarter. Ethos Financial Group LLC purchased a new position in shares of KeyCorp during the 4th quarter worth approximately $27,000. Fourth Dimension Wealth LLC purchased a new position in shares of KeyCorp during the 4th quarter worth approximately $28,000. SBI Securities Co. Ltd. acquired a new position in shares of KeyCorp during the 4th quarter worth approximately $34,000. Finally, FSC Wealth Advisors LLC purchased a new stake in KeyCorp in the 1st quarter valued at approximately $34,000. Institutional investors and hedge funds own 79.69% of the company's stock.

Insider Transactions at KeyCorp

In other KeyCorp news, insider Amy G. Brady sold 19,000 shares of the business's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $16.09, for a total transaction of $305,710.00. Following the transaction, the insider now owns 82,523 shares in the company, valued at $1,327,795.07. The trade was a 18.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 value of $83,000.00. Following the completion of the sale, 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. Company insiders own 0.52% of the company's stock.

KeyCorp Trading Up 0.5%

KEY stock traded up $0.08 during trading on Friday, reaching $17.23. 21,122,848 shares of the stock traded hands, compared to its average volume of 12,939,808. The firm has a market capitalization of $18.88 billion, a PE ratio of -101.35, a P/E/G ratio of 0.64 and a beta of 1.09. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.84 and a quick ratio of 0.83. The business's 50 day moving average price is $15.81 and its 200-day moving average price is $16.32. KeyCorp has a 52-week low of $12.73 and a 52-week high of $20.04.

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 (EPS) for the quarter, topping analysts' consensus estimates 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 quarter in the previous year, the business earned $0.20 EPS. As a group, sell-side analysts forecast that KeyCorp will post 1.5 earnings per share for the current year.

KeyCorp announced that its board has initiated a share repurchase 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 stock through open market purchases. Stock buyback plans are typically a sign that the company's leadership believes its stock is undervalued.

KeyCorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Tuesday, May 27th were paid 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 4.76%. KeyCorp's dividend payout ratio is currently -482.35%.

Wall Street Analysts Forecast Growth

KEY has been the subject of several recent research reports. Royal Bank Of Canada reissued an "outperform" rating on shares of KeyCorp in a research report on Thursday, April 17th. Barclays dropped their price objective on KeyCorp from $21.00 to $20.00 and set an "equal weight" rating for the company in a research report on Monday, April 21st. Baird R W upgraded shares of KeyCorp from a "hold" rating to a "strong-buy" rating in a report on Monday, April 7th. Jefferies Financial Group started coverage on shares of KeyCorp in a report on Wednesday, May 21st. They set a "hold" rating and a $18.00 price target for the company. Finally, Evercore ISI set a $17.00 price objective on shares of KeyCorp in a research note on Monday, April 28th. Twelve research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $18.92.

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.