KeyCorp (NYSE:KEY) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company reduced its position in KeyCorp (NYSE:KEY - Free Report) by 16.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,443,823 shares of the financial services provider's stock after selling 488,124 shares during the period. The Manufacturers Life Insurance Company owned about 0.25% of KeyCorp worth $41,887,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Whittier Trust Co. raised its position in shares of KeyCorp by 110.3% in the 4th quarter. Whittier Trust Co. now owns 1,525 shares of the financial services provider's stock worth $26,000 after buying an additional 800 shares during the period. Ethos Financial Group LLC acquired a new position in shares of KeyCorp in the 4th quarter valued at about $27,000. SBI Securities Co. Ltd. purchased a new stake in KeyCorp during the fourth quarter worth approximately $34,000. TCTC Holdings LLC boosted its position in KeyCorp by 38.6% during the 4th quarter. TCTC Holdings LLC now owns 2,195 shares of the financial services provider's stock worth $38,000 after purchasing an additional 611 shares during the period. Finally, Optiver Holding B.V. acquired a new stake in shares of KeyCorp in the fourth quarter valued at about $42,000. 79.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently commented on KEY. Keefe, Bruyette & Woods reduced their target price on shares of KeyCorp from $20.00 to $18.00 and set an "outperform" rating on the stock in a research report on Monday, April 21st. DA Davidson decreased their price objective on shares of KeyCorp from $22.00 to $21.00 and set a "buy" rating for the company in a research report on Wednesday, January 22nd. Wells Fargo & Company reaffirmed an "overweight" rating on shares of KeyCorp in a research report on Thursday, April 17th. Royal Bank of Canada reissued an "outperform" rating on shares of KeyCorp in a report on Thursday, April 17th. Finally, Citigroup restated a "buy" rating on shares of KeyCorp in a report on Thursday, April 17th. Eight 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. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $18.97.

Insiders Place Their Bets

In other KeyCorp news, Director Of Nova Scotia Bank purchased 50,000 shares of the business's stock in a transaction dated Wednesday, February 5th. The shares were bought at an average price of $17.85 per share, with a total value of $892,500.00. Following the completion of the acquisition, the director now owns 162,983,726 shares in the company, valued at approximately $2,909,259,509.10. This represents a 0.03 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mohit Ramani acquired 10,000 shares of KeyCorp stock in a transaction dated Monday, April 21st. The shares were acquired at an average price of $13.75 per share, with a total value 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 trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 60,180 shares of company stock valued at $1,032,525 over the last three months. Company insiders own 0.52% of the company's stock.

KeyCorp Stock Performance

Shares of NYSE KEY traded up $0.50 during midday trading on Friday, hitting $15.49. The company's stock had a trading volume of 12,415,240 shares, compared to its average volume of 12,831,466. 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 has a 1-year low of $12.73 and a 1-year high of $20.04. The firm's fifty day moving average price is $15.21 and its 200-day moving average price is $16.98. The firm has a market cap of $16.97 billion, a P/E ratio of -51.63, a P/E/G ratio of 0.65 and a beta of 1.06.

KeyCorp (NYSE:KEY - Get Free Report) last issued its 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 company had revenue of $1.77 billion during the quarter, compared to the consensus estimate 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 period in the previous year, the firm posted $0.20 earnings per share. On average, sell-side analysts forecast that KeyCorp will post 1.5 EPS for the current fiscal year.

KeyCorp announced that its Board of Directors has authorized 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 purchase up to 6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's leadership believes its shares are undervalued.

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.