KeyCorp (NYSE:KEY) Stock Position Trimmed by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. lessened its holdings in KeyCorp (NYSE:KEY - Free Report) by 57.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 908,452 shares of the financial services provider's stock after selling 1,229,688 shares during the period. Jacobs Levy Equity Management Inc. owned 0.09% of KeyCorp worth $15,571,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Vanguard Group Inc. lifted 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 valued at $2,004,228,000 after purchasing an additional 7,754,576 shares in the last quarter. FMR LLC lifted 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 valued at $761,556,000 after purchasing an additional 2,938,405 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of KeyCorp by 4.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 36,302,732 shares of the financial services provider's stock valued at $622,229,000 after purchasing an additional 1,645,296 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of KeyCorp by 4.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 33,058,682 shares of the financial services provider's stock valued at $566,626,000 after purchasing an additional 1,452,179 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. lifted its holdings in shares of KeyCorp by 4.1% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 27,183,748 shares of the financial services provider's stock valued at $465,929,000 after purchasing an additional 1,062,615 shares in the last quarter. Hedge funds and other institutional investors own 79.69% of the company's stock.

KeyCorp Trading Up 0.9%

Shares of KeyCorp stock traded up $0.15 during trading hours on Friday, hitting $16.63. The company's stock had a trading volume of 14,467,741 shares, compared to its average volume of 12,935,956. KeyCorp has a 1-year low of $12.73 and a 1-year high of $20.04. The business has a fifty day moving average of $15.15 and a 200 day moving average of $16.89. The company has a market capitalization of $18.22 billion, a PE ratio of -55.42, 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 (NYSE:KEY - Get Free Report) last released its quarterly earnings data 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 company had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same quarter in the prior year, the business earned $0.20 earnings per share. As a group, equities analysts forecast that KeyCorp will post 1.5 EPS for the current year.

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

KeyCorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Tuesday, May 27th will be issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 4.93%. The ex-dividend date is Tuesday, May 27th. KeyCorp's payout ratio is -482.35%.

Insider Activity at KeyCorp

In other KeyCorp 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 directly owns 37,177 shares in the company, valued at $617,138.20. This represents a 11.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Mohit Ramani acquired 10,000 shares of KeyCorp stock in a transaction on Monday, April 21st. The shares were bought at an average price of $13.75 per share, for a total transaction of $137,500.00. Following the completion of the purchase, the insider now directly owns 10,000 shares in the company, valued at $137,500. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.52% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Evercore ISI set a $17.00 price target on shares of KeyCorp in a report on Monday, April 28th. Barclays reduced 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 note on Monday, April 21st. StockNews.com raised shares of KeyCorp from a "sell" rating to a "hold" rating in a research note on Monday, April 21st. Morgan Stanley reissued an "equal weight" rating on shares of KeyCorp in a research note on Thursday, April 17th. Finally, DA Davidson reduced their price objective on shares of KeyCorp from $22.00 to $21.00 and set a "buy" rating on the stock in a research note on Wednesday, January 22nd. Nine equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $18.92.

About KeyCorp

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.