UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $123.14 Million Stake in KeyCorp (NYSE:KEY)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in KeyCorp (NYSE:KEY - Free Report) by 1.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,184,447 shares of the financial services provider's stock after purchasing an additional 69,849 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.72% of KeyCorp worth $123,141,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its holdings 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 purchasing an additional 36,424 shares during the last quarter. Truist Financial Corp increased its position in shares of KeyCorp by 27.1% in the fourth quarter. Truist Financial Corp now owns 95,856 shares of the financial services provider's stock valued at $1,643,000 after acquiring an additional 20,424 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of KeyCorp in the fourth quarter valued at about $1,519,000. Hantz Financial Services Inc. increased its position in shares of KeyCorp by 3.5% in the fourth quarter. Hantz Financial Services Inc. now owns 452,830 shares of the financial services provider's stock valued at $7,762,000 after acquiring an additional 15,487 shares during the last quarter. Finally, MFG Wealth Management Inc. acquired a new stake in shares of KeyCorp in the fourth quarter valued at about $1,181,000. Institutional investors and hedge funds own 79.69% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. 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 report on Monday, April 21st. Wall Street Zen upgraded KeyCorp from a "sell" rating to a "hold" rating in a report on Monday, April 21st. Wells Fargo & Company reiterated an "overweight" rating on shares of KeyCorp in a report on Thursday, April 17th. Truist Financial reduced their price target on KeyCorp from $18.00 to $16.00 and set a "hold" rating for the company in a report on Tuesday, April 22nd. Finally, TD Cowen initiated coverage on KeyCorp in a report on Thursday, May 15th. They set a "hold" rating and a $18.00 price target for the company. Eleven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $18.86.

KeyCorp Price Performance

KEY traded up $0.06 during trading on Thursday, hitting $15.82. 6,413,818 shares of the stock traded hands, compared to its average volume of 14,191,898. KeyCorp has a twelve month low of $12.73 and a twelve month high of $20.04. The company has a market cap of $17.33 billion, a price-to-earnings ratio of -52.71, a PEG ratio of 0.65 and a beta of 1.08. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.85 and a quick ratio of 0.84. The business has a 50 day moving average price of $15.16 and a 200 day moving average price of $16.77.

KeyCorp (NYSE:KEY - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The financial services provider reported $0.33 EPS for the quarter, beating the consensus estimate of $0.32 by $0.01. KeyCorp had a negative net margin of 2.52% and a positive return on equity of 8.73%. The business had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same period in the previous year, the business earned $0.20 earnings per share. Equities research analysts forecast that KeyCorp will post 1.5 earnings per share for the current fiscal year.

KeyCorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Tuesday, May 27th will be given a dividend of $0.205 per share. The ex-dividend date is Tuesday, May 27th. This represents a $0.82 annualized dividend and a yield of 5.18%. KeyCorp's dividend payout ratio is currently -482.35%.

KeyCorp declared that its Board of Directors has initiated a stock repurchase program on Thursday, March 13th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the financial services provider to purchase up to 6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board believes its shares are undervalued.

Insider Buying and Selling at KeyCorp

In related news, insider Mohit Ramani purchased 10,000 shares of the stock in a transaction dated 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 completion of the acquisition, the insider now owns 10,000 shares of the company's stock, valued at approximately $137,500. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Carlton L. Highsmith sold 5,000 shares of the company'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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.52% of the company's stock.

About KeyCorp

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.