USS Investment Management Ltd Has $2.06 Million Position in KeyCorp (NYSE:KEY)

USS Investment Management Ltd trimmed its position in KeyCorp (NYSE:KEY - Free Report) by 37.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 119,889 shares of the financial services provider's stock after selling 70,362 shares during the quarter. USS Investment Management Ltd's holdings in KeyCorp were worth $2,055,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in KEY. Norges Bank acquired a new position in shares of KeyCorp in the fourth quarter worth about $153,235,000. Vanguard Group Inc. boosted its holdings in shares of KeyCorp by 7.1% in the fourth quarter. Vanguard Group Inc. now owns 116,932,760 shares of the financial services provider's stock worth $2,004,228,000 after buying an additional 7,754,576 shares during the period. Freestone Grove Partners LP acquired a new position in shares of KeyCorp in the fourth quarter worth about $63,540,000. FMR LLC boosted its holdings in shares of KeyCorp by 7.1% in the fourth quarter. FMR LLC now owns 44,431,526 shares of the financial services provider's stock worth $761,556,000 after buying an additional 2,938,405 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of KeyCorp in the fourth quarter worth about $42,827,000. 79.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on KEY shares. Baird R W upgraded shares of KeyCorp from a "hold" rating to a "strong-buy" rating in a report on Monday, April 7th. TD Cowen started coverage on shares of KeyCorp in a report on Thursday, May 15th. They set a "hold" rating and a $18.00 price target for the company. Morgan Stanley restated an "equal weight" rating on shares of KeyCorp in a report on Thursday, April 17th. Wall Street Zen upgraded shares of KeyCorp from a "sell" rating to a "hold" rating in a report on Monday, April 21st. Finally, 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. Eleven analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, KeyCorp currently has a consensus rating of "Moderate Buy" and an average price target of $18.86.

KeyCorp Stock Performance

Shares of NYSE:KEY traded up $0.11 during trading on Tuesday, reaching $15.76. The stock had a trading volume of 12,084,285 shares, compared to its average volume of 12,983,076. KeyCorp has a 52 week low of $12.73 and a 52 week high of $20.04. The firm has a market capitalization of $17.27 billion, a price-to-earnings ratio of -52.53, a P/E/G ratio of 0.65 and a beta of 1.08. 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 stock has a fifty day simple moving average of $15.18 and a two-hundred day simple moving average of $16.79.

KeyCorp (NYSE:KEY - Get Free Report) last released its quarterly earnings results on Thursday, April 17th. The financial services provider reported $0.33 EPS for the quarter, beating analysts' consensus estimates of $0.32 by $0.01. The company had revenue of $1.77 billion for 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 firm posted $0.20 earnings per share. As a group, analysts anticipate that KeyCorp will post 1.5 earnings per share for the current fiscal year.

KeyCorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Tuesday, May 27th will be issued a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 5.20%. The ex-dividend date of this dividend is Tuesday, May 27th. KeyCorp's payout ratio is presently -482.35%.

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

Insider Transactions at KeyCorp

In other news, insider Mohit Ramani bought 10,000 shares of the company's stock in a transaction dated Monday, April 21st. The stock was bought at an average price of $13.75 per share, for a total transaction of $137,500.00. Following the completion of the transaction, the insider now directly owns 10,000 shares in the company, valued at $137,500. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Carlton L. Highsmith sold 5,000 shares of the business's stock in a transaction on Tuesday, May 13th. The stock was 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 disclosure for this sale can be found here. 0.52% of the stock is owned by insiders.

KeyCorp Company 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.