Jefferies Financial Group Begins Coverage on KeyCorp (NYSE:KEY)

Jefferies Financial Group began coverage on shares of KeyCorp (NYSE:KEY - Free Report) in a report published on Wednesday morning, MarketBeat Ratings reports. The brokerage issued a hold rating and a $18.00 price objective on the financial services provider's stock.

A number of other equities research analysts have also weighed in on KEY. Royal Bank of Canada reaffirmed an "outperform" rating on shares of KeyCorp in a research note on Thursday, April 17th. JPMorgan Chase & Co. reduced their target price on KeyCorp from $18.50 to $16.50 and set a "neutral" rating on the stock in a report on Thursday, April 3rd. Wall Street Zen upgraded KeyCorp from a "sell" rating to a "hold" rating in a research note on Monday, April 21st. Keefe, Bruyette & Woods reduced their price target on KeyCorp from $20.00 to $18.00 and set an "outperform" rating on the stock in a research note on Monday, April 21st. Finally, Cowen began coverage on KeyCorp in a research report on Wednesday, May 14th. They set a "hold" rating for the company. Eleven analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $18.86.

KeyCorp Trading Down 0.3%

NYSE:KEY traded down $0.05 during midday trading on Wednesday, reaching $15.64. 10,024,602 shares of the stock traded hands, compared to its average volume of 12,963,753. The company has a fifty day moving average of $15.19 and a 200 day moving average of $16.85. KeyCorp has a 12 month low of $12.73 and a 12 month high of $20.04. The stock has a market capitalization of $17.14 billion, a P/E ratio of -52.13, a PEG ratio of 0.65 and a beta of 1.08. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.84 and a current ratio of 0.85.

KeyCorp (NYSE:KEY - Get Free Report) last released its quarterly earnings results on Thursday, April 17th. The financial services provider reported $0.33 EPS for the quarter, beating analysts' consensus estimates 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 positive return on equity of 8.73% and a negative net margin of 2.52%. During the same quarter in the prior year, the company posted $0.20 EPS. On average, research analysts predict that KeyCorp will post 1.5 EPS for the current year.

KeyCorp announced that its Board of Directors has initiated a share repurchase 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 reacquire up to 6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's leadership believes its stock is undervalued.

KeyCorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Tuesday, May 27th will be given a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 5.24%. The ex-dividend date is Tuesday, May 27th. KeyCorp's dividend payout ratio (DPR) is -482.35%.

Insider Transactions at KeyCorp

In other KeyCorp news, insider Mohit Ramani purchased 10,000 shares of the firm's stock in a transaction on Monday, April 21st. The shares were acquired at an average cost of $13.75 per share, for a total transaction of $137,500.00. Following the completion of the transaction, the insider now owns 10,000 shares of the company's stock, valued at approximately $137,500. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Carlton L. Highsmith sold 5,000 shares of the business's 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 sale, the director now directly owns 37,177 shares of the company's stock, valued at approximately $617,138.20. The trade was a 11.85% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.52% of the company's stock.

Hedge Funds Weigh In On KeyCorp

A number of institutional investors have recently bought and sold shares of the stock. Park Avenue Securities LLC grew its stake in shares of KeyCorp by 33.1% during the 4th quarter. Park Avenue Securities LLC now owns 30,137 shares of the financial services provider's stock valued at $517,000 after acquiring an additional 7,497 shares during the period. Tallon Kerry Patrick purchased a new position in shares of KeyCorp in the fourth quarter valued at about $248,000. Merit Financial Group LLC raised its stake in KeyCorp by 153.7% during the 4th quarter. Merit Financial Group LLC now owns 58,407 shares of the financial services provider's stock valued at $1,001,000 after purchasing an additional 35,385 shares during the period. HB Wealth Management LLC boosted its stake in KeyCorp by 4.6% in the 4th quarter. HB Wealth Management LLC now owns 37,961 shares of the financial services provider's stock worth $651,000 after purchasing an additional 1,659 shares during the period. Finally, Ballentine Partners LLC boosted its position in shares of KeyCorp by 5.7% during the fourth quarter. Ballentine Partners LLC now owns 12,855 shares of the financial services provider's stock worth $220,000 after acquiring an additional 692 shares during the last quarter. 79.69% of the stock is owned by institutional investors.

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.