Deutsche Bank AG Purchases 772,452 Shares of KeyCorp (NYSE:KEY)

Deutsche Bank AG boosted its holdings in shares of KeyCorp (NYSE:KEY - Free Report) by 18.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,905,549 shares of the financial services provider's stock after buying an additional 772,452 shares during the period. Deutsche Bank AG owned about 0.49% of KeyCorp worth $84,081,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of KEY. Norges Bank acquired a new position in KeyCorp during the 4th quarter worth about $153,235,000. Vanguard Group Inc. increased its stake in shares of KeyCorp by 7.1% in the 4th quarter. Vanguard Group Inc. now owns 116,932,760 shares of the financial services provider's stock valued at $2,004,228,000 after acquiring an additional 7,754,576 shares during the last quarter. Freestone Grove Partners LP bought a new stake in shares of KeyCorp in the 4th quarter valued at about $63,540,000. FMR LLC increased its stake in KeyCorp by 7.1% during the 4th quarter. FMR LLC now owns 44,431,526 shares of the financial services provider's stock worth $761,556,000 after purchasing an additional 2,938,405 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in KeyCorp during the 4th quarter worth approximately $42,827,000. Institutional investors and hedge funds own 79.69% of the company's stock.

Insider Activity

In other news, insider Mohit Ramani bought 10,000 shares of the firm's stock in a transaction that occurred on Monday, April 21st. The shares were bought 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. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Carlton L. Highsmith sold 5,000 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $16.60, for a total value of $83,000.00. Following the sale, the director now owns 37,177 shares in the company, valued at approximately $617,138.20. This trade represents a 11.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.52% of the company's stock.

Wall Street Analysts Forecast Growth

KEY has been the subject of a number of recent research reports. TD Cowen initiated coverage on KeyCorp in a research report on Thursday. They set a "hold" rating and a $18.00 price target for the company. Keefe, Bruyette & Woods cut their price objective on KeyCorp from $20.00 to $18.00 and set an "outperform" rating for the company in a report on Monday, April 21st. Truist Financial cut their price objective on KeyCorp from $18.00 to $16.00 and set a "hold" rating for the company in a report on Tuesday, April 22nd. JPMorgan Chase & Co. dropped their price target on KeyCorp from $18.50 to $16.50 and set a "neutral" rating on the stock in a research note on Thursday, April 3rd. Finally, DA Davidson dropped their price target on 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 given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $18.92.

KeyCorp Stock Down 0.7%

Shares of KEY stock traded down $0.11 during mid-day trading on Thursday, hitting $16.48. The company's stock had a trading volume of 9,587,394 shares, compared to its average volume of 12,881,018. KeyCorp has a 52-week low of $12.73 and a 52-week high of $20.04. The business has a 50-day moving average price of $15.10 and a 200 day moving average price of $16.91. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.84 and a current ratio of 0.85. The stock has a market cap of $18.06 billion, a price-to-earnings ratio of -54.93, a PEG ratio of 0.65 and a beta of 1.08.

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. KeyCorp had a positive return on equity of 8.73% and a negative net margin of 2.52%. 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 previous year, the company posted $0.20 earnings per share. Research analysts predict that KeyCorp will post 1.5 EPS for the current fiscal year.

KeyCorp declared that its Board of Directors has initiated a stock repurchase program on Thursday, March 13th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to buy up to 6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's leadership believes its shares are undervalued.

KeyCorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Tuesday, May 27th will be issued a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 4.98%. The ex-dividend date is Tuesday, May 27th. KeyCorp's dividend payout ratio is presently -482.35%.

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.