UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Acquires 69,849 Shares of KeyCorp (NYSE:KEY)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of KeyCorp (NYSE:KEY - Free Report) by 1.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,184,447 shares of the financial services provider's stock after acquiring an additional 69,849 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.72% of KeyCorp worth $123,141,000 at the end of the most recent reporting period.

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

KeyCorp Stock Performance

KEY traded up $0.11 during trading on Tuesday, reaching $15.76. 12,084,285 shares of the company's stock were exchanged, compared to its average volume of 12,983,076. KeyCorp has a fifty-two week low of $12.73 and a fifty-two week high of $20.04. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.77. The business has a 50 day moving average price of $15.18 and a 200 day moving average price of $16.79. The company has a market capitalization of $17.27 billion, a P/E ratio of -52.53, a PEG ratio of 0.65 and a beta of 1.08.

KeyCorp (NYSE:KEY - Get Free Report) last issued its quarterly earnings data on Thursday, April 17th. The financial services provider reported $0.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.32 by $0.01. The company 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 8.73% and a negative net margin of 2.52%. During the same period last year, the business earned $0.20 earnings per share. As a group, analysts predict that KeyCorp will post 1.5 earnings per share for the current fiscal year.

KeyCorp declared that its board has initiated a share buyback plan on Thursday, March 13th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the financial services provider to purchase up to 6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's leadership believes its stock is undervalued.

KeyCorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Tuesday, May 27th will be issued a dividend of $0.205 per share. 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 5.20%. KeyCorp's payout ratio is presently -482.35%.

Insider Buying and Selling at KeyCorp

In related news, Director Carlton L. Highsmith sold 5,000 shares of KeyCorp stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $16.60, for a total value of $83,000.00. Following the completion of the transaction, the director now directly owns 37,177 shares of the company's stock, valued at $617,138.20. The trade was a 11.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Mohit Ramani purchased 10,000 shares of the business's stock in a transaction that occurred on Monday, April 21st. The stock was acquired at an average cost of $13.75 per share, with a total value of $137,500.00. Following the completion of the acquisition, the insider now directly owns 10,000 shares of the company's stock, valued at $137,500. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.52% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on KEY. Baird R W raised shares of KeyCorp from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 7th. Royal Bank of Canada restated an "outperform" rating on shares of KeyCorp in a research note on Thursday, April 17th. Keefe, Bruyette & Woods lowered their price objective on shares of KeyCorp from $20.00 to $18.00 and set an "outperform" rating on the stock in a research note on Monday, April 21st. Morgan Stanley restated an "equal weight" rating on shares of KeyCorp in a research note on Thursday, April 17th. Finally, Barclays lowered their price objective on shares of KeyCorp from $21.00 to $20.00 and set an "equal weight" rating on the stock in a research note on Monday, April 21st. Eleven analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $18.86.

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.