KeyCorp (NYSE:KEY) Shares Purchased by Marshall Wace LLP

Marshall Wace LLP increased its position in KeyCorp (NYSE:KEY - Free Report) by 630.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 573,881 shares of the financial services provider's stock after purchasing an additional 495,368 shares during the quarter. Marshall Wace LLP owned approximately 0.06% of KeyCorp worth $9,836,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Zacks Investment Management increased its position in KeyCorp by 4.6% during the 4th quarter. Zacks Investment Management now owns 37,749 shares of the financial services provider's stock valued at $647,000 after purchasing an additional 1,671 shares during the period. NewEdge Advisors LLC raised its stake in KeyCorp by 3.3% in the fourth quarter. NewEdge Advisors LLC now owns 92,306 shares of the financial services provider's stock worth $1,582,000 after buying an additional 2,969 shares in the last quarter. Jump Financial LLC raised its stake in KeyCorp by 34.9% in the fourth quarter. Jump Financial LLC now owns 754,909 shares of the financial services provider's stock worth $12,939,000 after buying an additional 195,239 shares in the last quarter. Canada Post Corp Registered Pension Plan purchased a new stake in KeyCorp during the fourth quarter worth $119,000. Finally, Townsquare Capital LLC boosted its position in KeyCorp by 11.7% during the 4th quarter. Townsquare Capital LLC now owns 38,791 shares of the financial services provider's stock valued at $665,000 after acquiring an additional 4,076 shares in the last quarter. Hedge funds and other institutional investors own 79.69% of the company's stock.

KeyCorp Stock Performance

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

KeyCorp (NYSE:KEY - Get Free Report) last released its quarterly earnings data 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 for the quarter, compared to analyst estimates 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 quarter in the prior year, the firm posted $0.20 EPS. As a group, sell-side analysts predict that KeyCorp will post 1.5 earnings per share for the current year.

KeyCorp announced that its Board of Directors has approved a share buyback plan 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 plans are typically a sign that the company's leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Stephens reaffirmed an "overweight" rating and set a $20.00 price objective on shares of KeyCorp in a research report on Wednesday, January 22nd. Keefe, Bruyette & Woods reduced their price objective 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. Citigroup reissued a "buy" rating on shares of KeyCorp in a research report on Thursday, April 17th. Wells Fargo & Company reaffirmed an "overweight" rating on shares of KeyCorp in a research report on Thursday, April 17th. Finally, JPMorgan Chase & Co. lowered their price objective on KeyCorp from $18.50 to $16.50 and set a "neutral" rating for the company in a research report on Thursday, April 3rd. Eight analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, KeyCorp currently has an average rating of "Moderate Buy" and an average target price of $19.15.

Insider Buying and Selling at KeyCorp

In related news, insider Mohit Ramani acquired 10,000 shares of KeyCorp stock in a transaction on Monday, April 21st. The stock was bought at an average cost of $13.75 per share, for a total transaction 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. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Of Nova Scotia Bank bought 50,000 shares of the company's stock in a transaction dated Wednesday, February 5th. The stock was bought at an average price of $17.85 per share, for a total transaction of $892,500.00. Following 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 ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 60,180 shares of company stock valued at $1,032,525. Corporate insiders own 0.52% of the company's stock.

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.