First Trust Advisors LP Buys 269,378 Shares of KeyCorp (NYSE:KEY)

First Trust Advisors LP grew its holdings in KeyCorp (NYSE:KEY - Free Report) by 11.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,608,454 shares of the financial services provider's stock after purchasing an additional 269,378 shares during the period. First Trust Advisors LP owned about 0.26% of KeyCorp worth $44,709,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Forum Financial Management LP lifted its position in KeyCorp by 121.5% during the 4th quarter. Forum Financial Management LP now owns 31,028 shares of the financial services provider's stock worth $532,000 after buying an additional 17,019 shares in the last quarter. GeoWealth Management LLC grew its stake in KeyCorp by 27.8% in the fourth quarter. GeoWealth Management LLC now owns 4,071 shares of the financial services provider's stock valued at $70,000 after purchasing an additional 886 shares in the last quarter. Farringdon Capital Ltd. acquired a new position in shares of KeyCorp during the 4th quarter worth approximately $589,000. Marshall Wace LLP raised its stake in shares of KeyCorp by 630.9% during the 4th quarter. Marshall Wace LLP now owns 573,881 shares of the financial services provider's stock worth $9,836,000 after purchasing an additional 495,368 shares in the last quarter. Finally, Zacks Investment Management boosted its holdings in shares of KeyCorp by 4.6% in the 4th quarter. Zacks Investment Management now owns 37,749 shares of the financial services provider's stock valued at $647,000 after buying an additional 1,671 shares during the last quarter. Institutional investors own 79.69% of the company's stock.

Insider Transactions at KeyCorp

In related news, Director Of Nova Scotia Bank acquired 50,000 shares of the stock in a transaction dated Wednesday, February 5th. The stock was bought at an average cost of $17.85 per share, for a total transaction of $892,500.00. Following the completion of the transaction, the director now directly owns 162,983,726 shares of the company's stock, valued at $2,909,259,509.10. The trade was a 0.03 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Mohit Ramani bought 10,000 shares of KeyCorp stock in a transaction that occurred on 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 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. Over the last 90 days, insiders have acquired 60,180 shares of company stock worth $1,032,525. Company insiders own 0.52% of the company's stock.

KeyCorp Price Performance

Shares of KEY stock traded down $0.05 on Tuesday, hitting $14.82. 1,658,405 shares of the company's stock were exchanged, compared to its average volume of 12,811,113. The stock has a market cap of $16.24 billion, a P/E ratio of -49.45, a price-to-earnings-growth ratio of 0.65 and a beta of 1.06. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.85 and a quick ratio of 0.84. KeyCorp has a 12 month low of $12.73 and a 12 month high of $20.04. The company has a 50 day moving average of $15.36 and a 200 day moving average of $17.04.

KeyCorp (NYSE:KEY - Get Free Report) last issued its earnings results on Thursday, April 17th. The financial services provider reported $0.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.32 by $0.01. KeyCorp had a positive return on equity of 8.73% and a negative net margin of 2.52%. The business had revenue of $1.77 billion during the quarter, compared to analysts' expectations of $1.77 billion. During the same quarter in the prior year, the firm earned $0.20 EPS. On average, equities research analysts predict that KeyCorp will post 1.5 EPS for the current year.

KeyCorp announced that its Board of Directors has authorized a share buyback program 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 stock through open market purchases. Stock repurchase programs are usually an indication that the company's board believes its stock is undervalued.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Wells Fargo & Company reaffirmed an "overweight" rating on shares of KeyCorp in a research report on Thursday, April 17th. Evercore ISI set a $17.00 price objective on KeyCorp in a research note on Monday. Citigroup reaffirmed a "buy" rating on shares of KeyCorp in a report on Thursday, April 17th. DA Davidson cut their price objective on shares of KeyCorp from $22.00 to $21.00 and set a "buy" rating for the company in a research report on Wednesday, January 22nd. Finally, 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 note on Monday, April 21st. Eight research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $18.97.

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.