59,529 Shares in KeyCorp (NYSE:KEY) Purchased by Woodline Partners LP

Woodline Partners LP bought a new stake in KeyCorp (NYSE:KEY - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 59,529 shares of the financial services provider's stock, valued at approximately $1,020,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of KEY. Tallon Kerry Patrick bought a new stake in shares of KeyCorp during the fourth quarter worth $248,000. Janney Montgomery Scott LLC grew its stake in shares of KeyCorp by 2.2% during the fourth quarter. Janney Montgomery Scott LLC now owns 105,861 shares of the financial services provider's stock worth $1,814,000 after buying an additional 2,293 shares during the last quarter. Avior Wealth Management LLC grew its stake in shares of KeyCorp by 19.5% during the fourth quarter. Avior Wealth Management LLC now owns 25,955 shares of the financial services provider's stock worth $445,000 after buying an additional 4,243 shares during the last quarter. Brighton Jones LLC bought a new stake in shares of KeyCorp in the fourth quarter worth $476,000. Finally, Union Bancaire Privee UBP SA bought a new stake in shares of KeyCorp in the fourth quarter worth $1,849,000. Institutional investors own 79.69% of the company's stock.

Analyst Ratings Changes

KEY has been the topic of several analyst reports. Citigroup reissued a "buy" rating on shares of KeyCorp in a research note on Thursday, April 17th. Wells Fargo & Company reissued an "overweight" rating on shares of KeyCorp in a research note 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. Royal Bank of Canada restated an "outperform" rating on shares of KeyCorp in a report on Thursday, April 17th. Finally, 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 objective on the stock. Eleven research 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 company's stock. Based on data from MarketBeat, KeyCorp has an average rating of "Moderate Buy" and an average target price of $18.86.

KeyCorp Stock Performance

KEY traded up $0.01 on Wednesday, hitting $15.77. The company's stock had a trading volume of 21,879,400 shares, compared to its average volume of 13,030,656. 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 cap of $17.28 billion, a P/E ratio of -52.56, a price-to-earnings-growth ratio of 0.65 and a beta of 1.08. The company's 50 day simple moving average is $15.17 and its 200-day simple moving average is $16.78.

KeyCorp (NYSE:KEY - Get Free Report) last posted its 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 business had revenue of $1.77 billion for the quarter, compared to analysts' expectations of $1.77 billion. During the same period in the prior year, the company posted $0.20 EPS. Analysts forecast that KeyCorp will post 1.5 EPS for the current year.

KeyCorp Announces Dividend

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

KeyCorp declared that its Board of Directors has approved a stock repurchase plan on Thursday, March 13th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the financial services provider to purchase up to 6% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's management believes its stock is undervalued.

Insiders Place Their Bets

In related news, Director Carlton L. Highsmith sold 5,000 shares of the stock in a transaction on Tuesday, May 13th. The shares were 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 approximately $617,138.20. This trade represents a 11.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mohit Ramani bought 10,000 shares of the firm's stock in a transaction that occurred on Monday, April 21st. The stock was acquired at an average price of $13.75 per share, for a total transaction of $137,500.00. Following the transaction, the insider now owns 10,000 shares in the company, valued at $137,500. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.52% of the company's stock.

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.