New England Asset Management Inc. Has $8.34 Million Stock Holdings in KeyCorp (NYSE:KEY)

New England Asset Management Inc. reduced its position in KeyCorp (NYSE:KEY - Free Report) by 13.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 486,660 shares of the financial services provider's stock after selling 75,500 shares during the quarter. KeyCorp comprises about 1.4% of New England Asset Management Inc.'s holdings, making the stock its 12th biggest holding. New England Asset Management Inc.'s holdings in KeyCorp were worth $8,341,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. TCTC Holdings LLC lifted its holdings in shares of KeyCorp by 38.6% in the 4th 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 during the last quarter. Signaturefd LLC increased its stake in shares of KeyCorp by 16.0% during the fourth quarter. Signaturefd LLC now owns 4,453 shares of the financial services provider's stock valued at $76,000 after purchasing an additional 614 shares in the last quarter. Modera Wealth Management LLC grew its position in KeyCorp by 3.9% during the 4th quarter. Modera Wealth Management LLC now owns 16,521 shares of the financial services provider's stock valued at $283,000 after purchasing an additional 627 shares during the last quarter. Integrated Wealth Concepts LLC increased its stake in KeyCorp by 2.6% during the 4th quarter. Integrated Wealth Concepts LLC now owns 24,679 shares of the financial services provider's stock valued at $423,000 after purchasing an additional 631 shares in the last quarter. Finally, Ballentine Partners LLC increased its stake in KeyCorp by 5.7% during the 4th quarter. Ballentine Partners LLC now owns 12,855 shares of the financial services provider's stock valued at $220,000 after purchasing an additional 692 shares in the last quarter. 79.69% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on KEY. StockNews.com upgraded shares of KeyCorp from a "sell" rating to a "hold" rating in a research note on Monday, April 21st. Stephens restated an "overweight" rating and set a $20.00 target price on shares of KeyCorp in a research note on Wednesday, January 22nd. Evercore ISI set a $17.00 target price on shares of KeyCorp in a research note on Monday, April 28th. Citigroup restated a "buy" rating on shares of KeyCorp in a research note on Thursday, April 17th. Finally, Baird R W upgraded shares of KeyCorp from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 7th. Nine investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $18.92.

KeyCorp Stock Up 0.9%

NYSE KEY traded up $0.15 during trading hours on Friday, hitting $16.63. 14,467,741 shares of the company were exchanged, compared to its average volume of 12,909,115. KeyCorp has a 52-week low of $12.73 and a 52-week high of $20.04. The firm has a market cap of $18.22 billion, a price-to-earnings ratio of -55.42, a PEG 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. The company has a 50 day moving average of $15.12 and a two-hundred day moving average of $16.90.

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 the consensus estimate of $1.77 billion. During the same period in the prior year, the business posted $0.20 EPS. Equities research analysts anticipate that KeyCorp will post 1.5 earnings per share for the current year.

KeyCorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Tuesday, May 27th will be given a $0.205 dividend. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $0.82 annualized dividend and a dividend yield of 4.93%. KeyCorp's dividend payout ratio is presently -482.35%.

KeyCorp announced that its board has authorized a stock repurchase program on Thursday, March 13th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the financial services provider to repurchase up to 6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

Insider Activity at KeyCorp

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

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.