KeyCorp (NYSE:KEY) Stock Position Raised by Hsbc Holdings PLC

Hsbc Holdings PLC increased its stake in shares of KeyCorp (NYSE:KEY - Free Report) by 2.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,513,921 shares of the financial services provider's stock after buying an additional 69,164 shares during the quarter. Hsbc Holdings PLC owned about 0.25% of KeyCorp worth $43,131,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wilmington Savings Fund Society FSB acquired a new stake in KeyCorp during the 3rd quarter worth approximately $395,000. Franklin Resources Inc. increased its stake in KeyCorp by 340.0% in the third quarter. Franklin Resources Inc. now owns 413,011 shares of the financial services provider's stock valued at $7,186,000 after purchasing an additional 319,155 shares during the last quarter. Versant Capital Management Inc raised its holdings in KeyCorp by 44.6% during the fourth quarter. Versant Capital Management Inc now owns 3,587 shares of the financial services provider's stock worth $61,000 after purchasing an additional 1,107 shares in the last quarter. GAMMA Investing LLC raised its stake in KeyCorp by 23.0% during the 4th quarter. GAMMA Investing LLC now owns 30,413 shares of the financial services provider's stock worth $521,000 after acquiring an additional 5,687 shares in the last quarter. Finally, Everence Capital Management Inc. increased its position in shares of KeyCorp by 25.3% during the fourth quarter. Everence Capital Management Inc. now owns 41,320 shares of the financial services provider's stock worth $708,000 after purchasing an additional 8,330 shares in the last quarter. 79.69% of the stock is currently owned by hedge funds and other institutional investors.

KeyCorp Stock Up 0.9 %

KeyCorp stock traded up $0.14 during midday trading on Thursday, hitting $14.98. 3,084,117 shares of the stock were exchanged, compared to its average volume of 14,657,860. The company has a 50 day moving average price of $15.27 and a two-hundred day moving average price of $17.01. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.85 and a quick ratio of 0.84. The firm has a market cap of $16.41 billion, a P/E ratio of -49.92, a P/E/G ratio of 0.65 and a beta of 1.06. KeyCorp has a 1 year low of $12.73 and a 1 year high of $20.04.

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 for the quarter, topping analysts' consensus estimates of $0.32 by $0.01. The business had revenue of $1.77 billion during the quarter, compared to the consensus estimate 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 company earned $0.20 earnings per share. On average, sell-side analysts predict that KeyCorp will post 1.5 earnings per share for the current fiscal year.

KeyCorp announced that its Board of Directors has approved a share buyback program 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 programs are often 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 KeyCorp stock in a transaction on Monday, April 21st. The stock was purchased at an average cost of $13.75 per share, with a total value of $137,500.00. Following the purchase, the insider now directly owns 10,000 shares of the company's stock, valued at approximately $137,500. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Of Nova Scotia Bank purchased 50,000 shares of KeyCorp stock in a transaction on Wednesday, February 5th. The shares were acquired at an average price of $17.85 per share, with a total value of $892,500.00. Following the transaction, the director now directly owns 162,983,726 shares in the company, valued at $2,909,259,509.10. This trade represents a 0.03 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 60,180 shares of company stock worth $1,032,525. 0.52% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on KEY. Morgan Stanley restated an "equal weight" rating on shares of KeyCorp in a research report on Thursday, April 17th. DA Davidson lowered their target price on KeyCorp from $22.00 to $21.00 and set a "buy" rating on the stock in a research note on Wednesday, January 22nd. Barclays lowered their price objective on shares of KeyCorp from $21.00 to $20.00 and set an "equal weight" rating on the stock in a research report on Monday, April 21st. Baird R W raised shares of KeyCorp from a "hold" rating to a "strong-buy" rating in a report on Monday, April 7th. Finally, StockNews.com upgraded shares of KeyCorp from a "sell" rating to a "hold" rating in a research report on Monday, April 21st. Eight investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $18.97.

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.