Lighthouse Investment Partners LLC Makes New $331,000 Investment in KeyCorp (NYSE:KEY)

Lighthouse Investment Partners LLC bought a new stake in KeyCorp (NYSE:KEY - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 19,306 shares of the financial services provider's stock, valued at approximately $331,000.

Other hedge funds have also recently made changes to their positions in the company. Whittier Trust Co. increased its holdings in 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 purchased a new stake in shares of KeyCorp during the 4th quarter worth about $27,000. SBI Securities Co. Ltd. acquired a new stake in KeyCorp in the 4th quarter valued at $34,000. TCTC Holdings LLC grew its stake in KeyCorp by 38.6% in the 4th quarter. TCTC Holdings LLC now owns 2,195 shares of the financial services provider's stock valued at $38,000 after acquiring an additional 611 shares during the period. Finally, Optiver Holding B.V. acquired a new position in shares of KeyCorp during the fourth quarter valued at approximately $42,000. 79.69% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have commented on KEY. Royal Bank of Canada reiterated an "outperform" rating on shares of KeyCorp in a report on Thursday, April 17th. Keefe, Bruyette & Woods cut their price target 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. Barclays decreased their price objective on shares of KeyCorp from $21.00 to $20.00 and set an "equal weight" rating for the company in a research report on Monday, April 21st. Evercore ISI set a $17.00 price target on shares of KeyCorp in a research note on Monday, April 28th. Finally, Morgan Stanley restated an "equal weight" rating on shares of KeyCorp in a research note on Thursday, April 17th. Ten analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $18.92.

Insider Activity

In other KeyCorp news, insider Mohit Ramani acquired 10,000 shares of the company's stock in a transaction dated Monday, April 21st. The stock was bought 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 directly owns 10,000 shares of the company's stock, valued at approximately $137,500. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Carlton L. Highsmith sold 5,000 shares of the stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $16.60, for a total transaction of $83,000.00. Following the completion of the sale, the director now directly owns 37,177 shares of the company's stock, valued at $617,138.20. The trade was a 11.85% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.52% of the company's stock.

KeyCorp Price Performance

KEY stock traded down $0.15 during trading on Tuesday, hitting $16.35. The stock had a trading volume of 6,632,945 shares, compared to its average volume of 14,299,318. The company's 50 day moving average price is $15.17 and its two-hundred day moving average price is $16.88. KeyCorp has a 1-year low of $12.73 and a 1-year high of $20.04. The stock has a market cap of $17.91 billion, a price-to-earnings ratio of -54.36, a price-to-earnings-growth ratio of 0.65 and a beta of 1.08. 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 (NYSE:KEY - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The financial services provider reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.01. KeyCorp had a negative net margin of 2.52% and a positive return on equity of 8.73%. The business had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter in the prior 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Tuesday, May 27th will be paid a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 5.02%. The ex-dividend date of this dividend is Tuesday, May 27th. KeyCorp's dividend payout ratio is currently -482.35%.

KeyCorp announced that its board has initiated a stock repurchase 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 reacquire up to 6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's leadership believes its shares are undervalued.

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.