Tower Research Capital LLC TRC Grows Stock Holdings in KeyCorp (NYSE:KEY)

Tower Research Capital LLC TRC raised its stake in KeyCorp (NYSE:KEY - Free Report) by 176.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,622 shares of the financial services provider's stock after acquiring an additional 57,857 shares during the period. Tower Research Capital LLC TRC's holdings in KeyCorp were worth $1,553,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Wilmington Savings Fund Society FSB bought a new stake in shares of KeyCorp during the 3rd quarter worth approximately $395,000. Franklin Resources Inc. raised its position in KeyCorp by 340.0% during 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 in the last quarter. Versant Capital Management Inc lifted its stake 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 during the last quarter. GAMMA Investing LLC boosted its stake in KeyCorp by 23.0% in the fourth quarter. GAMMA Investing LLC now owns 30,413 shares of the financial services provider's stock valued at $521,000 after buying an additional 5,687 shares in the last quarter. Finally, Everence Capital Management Inc. lifted its holdings in shares of KeyCorp by 25.3% in the fourth quarter. Everence Capital Management Inc. now owns 41,320 shares of the financial services provider's stock worth $708,000 after acquiring an additional 8,330 shares during the last quarter. 79.69% of the stock is currently owned by institutional investors.

KeyCorp Price Performance

Shares of KEY traded down $0.04 during trading hours on Tuesday, reaching $14.84. 2,153,279 shares of the stock traded hands, compared to its average volume of 12,812,896. The company has a market cap of $16.25 billion, a P/E ratio of -49.48, a price-to-earnings-growth ratio of 0.65 and a beta of 1.06. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.77. The company's 50-day moving average price is $15.36 and its two-hundred day moving average price is $17.04. KeyCorp has a 52-week low of $12.73 and a 52-week high of $20.04.

KeyCorp (NYSE:KEY - Get Free Report) last released its earnings results 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. The firm had revenue of $1.77 billion for 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 in the previous year, the firm earned $0.20 earnings per share. On average, analysts anticipate that KeyCorp will post 1.5 earnings per share for the current year.

KeyCorp announced that its board has authorized a share 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 reacquire up to 6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

Analyst Ratings Changes

Several equities research analysts recently commented on KEY shares. StockNews.com upgraded shares of KeyCorp from a "sell" rating to a "hold" rating in a research report on Monday, April 21st. Citigroup reaffirmed a "buy" rating on shares of KeyCorp in a report on Thursday, April 17th. Royal Bank of Canada reissued an "outperform" rating on shares of KeyCorp in a research report on Thursday, April 17th. Morgan Stanley restated an "equal weight" rating on shares of KeyCorp in a research report on Thursday, April 17th. Finally, Wells Fargo & Company reiterated an "overweight" rating on shares of KeyCorp in a research report on Thursday, April 17th. Eight 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 company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $18.97.

Insider Buying and Selling at KeyCorp

In related news, insider Mohit Ramani bought 10,000 shares of the business's stock in a transaction dated Monday, April 21st. The shares were purchased at an average price of $13.75 per share, with a total value of $137,500.00. Following the transaction, the insider now owns 10,000 shares in the company, valued at $137,500. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Of Nova Scotia Bank acquired 50,000 shares of the business's stock in a transaction on Wednesday, February 5th. The shares were purchased at an average price of $17.85 per share, for a total transaction of $892,500.00. Following the transaction, the director now directly owns 162,983,726 shares of the company's stock, valued at approximately $2,909,259,509.10. The trade was a 0.03 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 60,180 shares of company stock worth $1,032,525 over the last 90 days. 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.