Teza Capital Management LLC Sells 70,013 Shares of KeyCorp (NYSE:KEY)

Teza Capital Management LLC lessened its stake in shares of KeyCorp (NYSE:KEY - Free Report) by 65.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,943 shares of the financial services provider's stock after selling 70,013 shares during the quarter. Teza Capital Management LLC's holdings in KeyCorp were worth $633,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. TCTC Holdings LLC boosted its position in shares of KeyCorp by 38.6% during the 4th 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 in the last quarter. Signaturefd LLC boosted its position in shares of KeyCorp by 16.0% during the 4th quarter. Signaturefd LLC now owns 4,453 shares of the financial services provider's stock worth $76,000 after purchasing an additional 614 shares in the last quarter. Modera Wealth Management LLC boosted its position in shares of KeyCorp by 3.9% during the 4th quarter. Modera Wealth Management LLC now owns 16,521 shares of the financial services provider's stock worth $283,000 after purchasing an additional 627 shares in the last quarter. Integrated Wealth Concepts LLC boosted its position in shares of KeyCorp by 2.6% during the 4th quarter. Integrated Wealth Concepts LLC now owns 24,679 shares of the financial services provider's stock worth $423,000 after purchasing an additional 631 shares in the last quarter. Finally, Ballentine Partners LLC boosted its position in shares of KeyCorp by 5.7% during the 4th quarter. Ballentine Partners LLC now owns 12,855 shares of the financial services provider's stock worth $220,000 after purchasing an additional 692 shares in the last quarter. Institutional investors own 79.69% of the company's stock.

KeyCorp Trading Down 1.0%

NYSE:KEY opened at $16.47 on Tuesday. 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 firm has a market cap of $18.05 billion, a price-to-earnings ratio of -54.90, a price-to-earnings-growth ratio of 0.65 and a beta of 1.08. KeyCorp has a 52 week low of $12.73 and a 52 week high of $20.04. The firm has a 50-day moving average price of $15.17 and a two-hundred day moving average price of $16.88.

KeyCorp (NYSE:KEY - Get Free Report) last issued its quarterly earnings results on Thursday, April 17th. The financial services provider reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.01. The company had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.77 billion. KeyCorp had a negative net margin of 2.52% and a positive return on equity of 8.73%. During the same quarter last year, the business posted $0.20 EPS. On average, equities analysts expect that KeyCorp will post 1.5 earnings per share for the current fiscal year.

KeyCorp announced that its board has approved a share repurchase program on Thursday, March 13th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's management believes its stock is undervalued.

KeyCorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Tuesday, May 27th will be issued a $0.205 dividend. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.98%. KeyCorp's dividend payout ratio (DPR) is presently -482.35%.

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 shares were sold at an average price of $16.60, for a total value of $83,000.00. Following the sale, the director now owns 37,177 shares of the company's stock, valued at approximately $617,138.20. The trade was a 11.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Mohit Ramani purchased 10,000 shares of the stock in a transaction that occurred on Monday, April 21st. The stock was bought at an average cost of $13.75 per share, for a total transaction of $137,500.00. Following the acquisition, the insider now directly owns 10,000 shares in the company, valued at $137,500. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. 0.52% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on KEY shares. Wells Fargo & Company reaffirmed an "overweight" rating on shares of KeyCorp in a research report on Thursday, April 17th. StockNews.com raised shares of KeyCorp from a "sell" rating to a "hold" rating in a research report on Monday, April 21st. Citigroup reaffirmed a "buy" rating on shares of KeyCorp in a research report on Thursday, April 17th. Evercore ISI set a $17.00 price target on shares of KeyCorp in a research report on Monday, April 28th. Finally, DA Davidson dropped their price target on shares of KeyCorp from $22.00 to $21.00 and set a "buy" rating on the stock in a research report on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price 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.

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