Guggenheim Capital LLC Sells 27,341 Shares of KeyCorp (NYSE:KEY)

Guggenheim Capital LLC reduced its holdings in KeyCorp (NYSE:KEY - Free Report) by 26.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 75,489 shares of the financial services provider's stock after selling 27,341 shares during the quarter. Guggenheim Capital LLC's holdings in KeyCorp were worth $1,294,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB bought a new position in KeyCorp in the 3rd quarter worth approximately $395,000. Franklin Resources Inc. increased its stake in KeyCorp by 340.0% in the 3rd quarter. Franklin Resources Inc. now owns 413,011 shares of the financial services provider's stock worth $7,186,000 after purchasing an additional 319,155 shares during the period. Versant Capital Management Inc increased its position 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 valued at $61,000 after acquiring an additional 1,107 shares during the period. GAMMA Investing LLC raised 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 acquiring an additional 5,687 shares in the last quarter. Finally, Everence Capital Management Inc. lifted its holdings in 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 buying an additional 8,330 shares during the period. 79.69% of the stock is owned by institutional investors.

Insider Buying and Selling at KeyCorp

In related news, insider Mohit Ramani acquired 10,000 shares of the stock in a transaction on Monday, April 21st. The stock was bought at an average cost of $13.75 per share, with a total value of $137,500.00. Following the transaction, the insider now directly owns 10,000 shares in the company, valued at approximately $137,500. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Of Nova Scotia Bank bought 50,000 shares of KeyCorp stock in a transaction dated Wednesday, February 5th. The shares were bought at an average cost of $17.85 per share, for a total transaction of $892,500.00. Following the completion of the transaction, the director now owns 162,983,726 shares of the company's stock, valued at approximately $2,909,259,509.10. This trade represents a 0.03 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought 60,180 shares of company stock worth $1,032,525 over the last quarter. Insiders own 0.52% of the company's stock.

Analyst Ratings Changes

KEY has been the subject of several research reports. Keefe, Bruyette & Woods decreased their price target on shares of KeyCorp from $20.00 to $18.00 and set an "outperform" rating for the company in a research note on Monday, April 21st. JPMorgan Chase & Co. lowered their price target on KeyCorp from $18.50 to $16.50 and set a "neutral" rating for the company in a research report on Thursday, April 3rd. Truist Financial reduced their price objective on shares of KeyCorp from $18.00 to $16.00 and set a "hold" rating for the company in a research note on Tuesday, April 22nd. Barclays cut their price target on shares of KeyCorp from $21.00 to $20.00 and set an "equal weight" rating on the stock in a report on Monday, April 21st. Finally, Citigroup reissued a "buy" 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 issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $19.15.

KeyCorp Price Performance

NYSE KEY traded down $0.15 during trading hours on Friday, reaching $14.72. The company's stock had a trading volume of 8,052,209 shares, compared to its average volume of 12,862,957. 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 market capitalization of $16.13 billion, a price-to-earnings ratio of -49.07, a PEG ratio of 0.65 and a beta of 1.06. The firm's 50-day moving average price is $15.42 and its 200-day moving average price is $17.06. KeyCorp has a 1 year low of $12.73 and a 1 year high of $20.04.

KeyCorp (NYSE:KEY - Get Free Report) last announced its quarterly 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 firm had revenue of $1.77 billion during 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 last year, the firm earned $0.20 EPS. On average, equities research analysts predict that KeyCorp will post 1.5 EPS for the current fiscal year.

KeyCorp announced that its board has authorized a stock repurchase plan on Thursday, March 13th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the financial services provider to repurchase up to 6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

KeyCorp Company 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.