Focus Partners Wealth Buys 190,485 Shares of KeyCorp (NYSE:KEY)

Focus Partners Wealth raised its holdings in KeyCorp (NYSE:KEY - Free Report) by 173.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 300,322 shares of the financial services provider's stock after acquiring an additional 190,485 shares during the period. Focus Partners Wealth's holdings in KeyCorp were worth $5,148,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Whittier Trust Co. raised its stake in 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 in the last quarter. Ethos Financial Group LLC purchased a new stake in shares of KeyCorp during the 4th quarter valued at $27,000. SBI Securities Co. Ltd. bought a new stake in shares of KeyCorp during the 4th quarter worth $34,000. TCTC Holdings LLC grew its position in KeyCorp by 38.6% in the fourth quarter. TCTC Holdings LLC now owns 2,195 shares of the financial services provider's stock worth $38,000 after acquiring an additional 611 shares in the last quarter. Finally, Optiver Holding B.V. bought a new position in KeyCorp in the fourth quarter valued at $42,000. Institutional investors own 79.69% of the company's stock.

KeyCorp Trading Down 0.2%

Shares of NYSE:KEY traded down $0.04 on Tuesday, hitting $16.46. The company had a trading volume of 2,806,262 shares, compared to its average volume of 12,886,125. The firm's 50-day simple moving average is $15.17 and its two-hundred day simple moving average is $16.88. The firm has a market capitalization of $18.03 billion, a price-to-earnings ratio of -54.85, 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. KeyCorp has a 1 year low of $12.73 and a 1 year high of $20.04.

KeyCorp (NYSE:KEY - Get Free Report) last issued its quarterly earnings data on Thursday, April 17th. The financial services provider reported $0.33 EPS for the quarter, topping the consensus estimate of $0.32 by $0.01. The business had revenue of $1.77 billion during 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 period last year, the business posted $0.20 earnings per share. Equities analysts anticipate that KeyCorp will post 1.5 earnings per share for the current fiscal year.

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

KeyCorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Tuesday, May 27th will be paid a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.98%. The ex-dividend date of this dividend is Tuesday, May 27th. KeyCorp's payout ratio is presently -482.35%.

Insider Activity at KeyCorp

In other news, insider Mohit Ramani acquired 10,000 shares of the stock in a transaction on Monday, April 21st. The stock was acquired at an average price of $13.75 per share, with a total value of $137,500.00. Following the completion of the transaction, the insider now owns 10,000 shares of the company's stock, valued at $137,500. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Carlton L. Highsmith sold 5,000 shares of the company's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $16.60, for a total transaction of $83,000.00. Following the completion of the sale, the director now directly owns 37,177 shares in the company, valued at $617,138.20. This represents a 11.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.52% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Keefe, Bruyette & Woods reduced their price objective on KeyCorp from $20.00 to $18.00 and set an "outperform" rating on the stock in a research report on Monday, April 21st. Citigroup reissued a "buy" rating on shares of KeyCorp in a research note on Thursday, April 17th. JPMorgan Chase & Co. lowered their price objective on shares of KeyCorp from $18.50 to $16.50 and set a "neutral" rating for the company in a report on Thursday, April 3rd. TD Cowen started coverage on shares of KeyCorp in a report on Thursday, May 15th. They set a "hold" rating and a $18.00 target price on the stock. Finally, Morgan Stanley reissued an "equal weight" rating on shares of KeyCorp in a research note on Thursday, April 17th. Ten research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $18.92.

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.