Union Bancaire Privee UBP SA trimmed its position in shares of KeyCorp (NYSE:KEY - Free Report) by 87.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,500 shares of the financial services provider's stock after selling 95,040 shares during the quarter. Union Bancaire Privee UBP SA's holdings in KeyCorp were worth $202,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. increased its stake in shares of 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 acquiring an additional 36,424 shares during the period. Truist Financial Corp boosted its holdings in KeyCorp by 27.1% during the fourth quarter. Truist Financial Corp now owns 95,856 shares of the financial services provider's stock worth $1,643,000 after buying an additional 20,424 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in KeyCorp during the fourth quarter worth about $1,519,000. Steward Partners Investment Advisory LLC boosted its holdings in KeyCorp by 6.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 29,876 shares of the financial services provider's stock worth $512,000 after buying an additional 1,775 shares in the last quarter. Finally, Tallon Kerry Patrick purchased a new stake in KeyCorp during the fourth quarter worth about $248,000. 79.69% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other news, Director Carlton L. Highsmith sold 5,000 shares of KeyCorp 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 transaction, the director now directly 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 filing with the SEC, which is accessible through this hyperlink. Also, insider Amy G. Brady sold 19,000 shares of KeyCorp stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $16.09, for a total transaction of $305,710.00. Following the completion of the transaction, the insider now directly owns 82,523 shares of the company's stock, valued at $1,327,795.07. This trade represents a 18.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.52% of the stock is owned by company insiders.
KeyCorp Trading Down 3.0%
Shares of KEY stock traded down $0.49 during mid-day trading on Friday, reaching $15.63. The company's stock had a trading volume of 13,459,170 shares, compared to its average volume of 12,950,639. The company's 50 day simple moving average is $15.34 and its 200-day simple moving average is $16.48. KeyCorp has a 12-month low of $12.73 and a 12-month 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 firm has a market capitalization of $17.12 billion, a PE ratio of -52.08, a price-to-earnings-growth ratio of 0.65 and a beta of 1.09.
KeyCorp (NYSE:KEY - Get Free Report) last released 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. KeyCorp had a negative net margin of 2.52% and a positive return on equity of 8.73%. The firm had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter in the previous year, the firm posted $0.20 EPS. On average, research analysts predict that KeyCorp will post 1.5 EPS for the current fiscal year.
KeyCorp declared that its board has approved a stock 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 repurchase up to 6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board believes its stock is undervalued.
KeyCorp Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Tuesday, May 27th were issued a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 5.25%. The ex-dividend date was Tuesday, May 27th. KeyCorp's dividend payout ratio is currently -482.35%.
Analyst Ratings Changes
A number of analysts recently commented on the stock. Truist Financial decreased their price objective on shares of KeyCorp from $18.00 to $16.00 and set a "hold" rating on the stock in a report on Tuesday, April 22nd. Cowen assumed coverage on shares of KeyCorp in a report on Wednesday, May 14th. They set a "hold" rating on the stock. Morgan Stanley reissued an "equal weight" rating on shares of KeyCorp in a report on Thursday, April 17th. JPMorgan Chase & Co. decreased their price objective on shares of KeyCorp from $18.50 to $16.50 and set a "neutral" rating on the stock in a report on Thursday, April 3rd. Finally, TD Cowen initiated coverage on shares of KeyCorp in a report on Thursday, May 15th. They issued a "hold" rating and a $18.00 price target on the stock. Eleven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $18.86.
Check Out Our Latest Stock Analysis on KEY
KeyCorp Profile
(
Free Report)
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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