Ossiam Sells 58,253 Shares of KeyCorp (NYSE:KEY)

Ossiam trimmed its stake in KeyCorp (NYSE:KEY - Free Report) by 85.4% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 9,922 shares of the financial services provider's stock after selling 58,253 shares during the quarter. Ossiam's holdings in KeyCorp were worth $170,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Wilmington Savings Fund Society FSB bought a new position in KeyCorp in the 3rd quarter worth approximately $395,000. Franklin Resources Inc. boosted its position in KeyCorp by 340.0% during the 3rd quarter. Franklin Resources Inc. now owns 413,011 shares of the financial services provider's stock worth $7,186,000 after acquiring an additional 319,155 shares during the period. Versant Capital Management Inc grew its stake in shares of KeyCorp by 44.6% in 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 in the last quarter. GAMMA Investing LLC increased its holdings in shares of KeyCorp by 23.0% during the fourth quarter. GAMMA Investing LLC now owns 30,413 shares of the financial services provider's stock valued at $521,000 after purchasing an additional 5,687 shares during the period. Finally, Everence Capital Management Inc. raised its stake in shares of KeyCorp by 25.3% during the fourth quarter. Everence Capital Management Inc. now owns 41,320 shares of the financial services provider's stock valued at $708,000 after purchasing an additional 8,330 shares in the last quarter. Institutional investors and hedge funds own 79.69% of the company's stock.

KeyCorp Stock Down 0.2 %

KeyCorp stock traded down $0.04 during mid-day trading on Tuesday, hitting $14.84. The company's stock had a trading volume of 2,153,279 shares, compared to its average volume of 12,812,896. KeyCorp has a 52-week low of $12.73 and a 52-week high of $20.04. The company has a market cap of $16.25 billion, a PE ratio of -49.48, a price-to-earnings-growth ratio of 0.65 and a beta of 1.06. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.85 and a quick ratio of 0.84. The firm's 50 day moving average is $15.36 and its 200 day moving average is $17.04.

KeyCorp (NYSE:KEY - Get Free Report) last posted its quarterly 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 business had revenue of $1.77 billion during the quarter, compared to analysts' expectations 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 period last year, the company posted $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 of Directors has initiated a share buyback program on Thursday, March 13th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the financial services provider to repurchase up to 6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

KEY has been the topic of several research analyst reports. Keefe, Bruyette & Woods lowered their target price on shares of KeyCorp from $20.00 to $18.00 and set an "outperform" rating on the stock in a research note on Monday, April 21st. Royal Bank of Canada reiterated an "outperform" rating on shares of KeyCorp in a research note on Thursday, April 17th. Truist Financial cut their target price on KeyCorp from $18.00 to $16.00 and set a "hold" rating for the company in a research report on Tuesday, April 22nd. StockNews.com raised KeyCorp from a "sell" rating to a "hold" rating in a research note on Monday, April 21st. Finally, Wells Fargo & Company restated an "overweight" rating on shares of KeyCorp in a report on Thursday, April 17th. Eight equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, KeyCorp currently has a consensus rating of "Moderate Buy" and an average price target of $18.97.

Insider Transactions at KeyCorp

In other news, Director Of Nova Scotia Bank acquired 50,000 shares of the company's stock in a transaction that occurred 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 completion of the acquisition, the director now owns 162,983,726 shares of the company's stock, valued at approximately $2,909,259,509.10. This represents a 0.03 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Mohit Ramani acquired 10,000 shares of the business's stock in a transaction that occurred 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 transaction, the insider now owns 10,000 shares of the company's stock, valued at approximately $137,500. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 60,180 shares of company stock valued at $1,032,525. 0.52% of the stock is owned by insiders.

KeyCorp Profile

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.