MetLife Investment Management LLC Raises Stake in KeyCorp (NYSE:KEY)

MetLife Investment Management LLC lifted its position in KeyCorp (NYSE:KEY - Free Report) by 8.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 261,208 shares of the financial services provider's stock after buying an additional 19,923 shares during the period. MetLife Investment Management LLC's holdings in KeyCorp were worth $4,477,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Whittier Trust Co. lifted its stake in shares of KeyCorp by 110.3% in the fourth 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 in the last quarter. Ethos Financial Group LLC bought a new position in KeyCorp during the fourth quarter valued at approximately $27,000. SBI Securities Co. Ltd. bought a new position in KeyCorp during the fourth quarter valued at approximately $34,000. TCTC Holdings LLC lifted its position in KeyCorp by 38.6% during the fourth quarter. TCTC Holdings LLC now owns 2,195 shares of the financial services provider's stock valued at $38,000 after purchasing an additional 611 shares during the period. Finally, Whipplewood Advisors LLC bought a new position in KeyCorp during the fourth quarter valued at approximately $45,000. Institutional investors own 79.69% of the company's stock.

Insider Buying and Selling at KeyCorp

In other news, insider Mohit Ramani acquired 10,000 shares of the company's stock in a transaction on Monday, April 21st. The shares were bought at an average cost of $13.75 per share, with a total value of $137,500.00. Following the transaction, the insider now owns 10,000 shares in the company, valued at approximately $137,500. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Of Nova Scotia Bank bought 50,000 shares of the company's stock in a transaction that occurred on Wednesday, February 5th. The stock was 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 directly owns 162,983,726 shares in the company, valued at approximately $2,909,259,509.10. The trade was a 0.03 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have bought 60,180 shares of company stock valued at $1,032,525. Insiders own 0.52% of the company's stock.

KeyCorp Trading Down 1.6 %

Shares of KEY stock traded down $0.25 during trading hours on Wednesday, hitting $14.70. The company had a trading volume of 1,640,698 shares, compared to its average volume of 12,797,819. The stock has a market capitalization of $16.10 billion, a PE ratio of -48.88, a price-to-earnings-growth ratio of 0.65 and a beta of 1.06. KeyCorp has a fifty-two week low of $12.73 and a fifty-two week high of $20.04. 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 company's fifty day moving average is $15.31 and its 200 day moving average is $17.03.

KeyCorp (NYSE:KEY - Get Free Report) last released its earnings results on Thursday, April 17th. The financial services provider reported $0.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.32 by $0.01. The company had revenue of $1.77 billion for the quarter, compared to analyst estimates 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 in the prior year, the business earned $0.20 EPS. Research analysts expect that KeyCorp will post 1.5 earnings per share for the current fiscal year.

KeyCorp declared that its Board of Directors has initiated a stock buyback program on Thursday, March 13th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the financial services provider to repurchase up to 6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board believes its stock is undervalued.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Truist Financial lowered their price objective on shares of KeyCorp from $18.00 to $16.00 and set a "hold" rating on the stock in a research report on Tuesday, April 22nd. Stephens restated an "overweight" rating and set a $20.00 price objective on shares of KeyCorp in a research report on Wednesday, January 22nd. Evercore ISI set a $17.00 price target on shares of KeyCorp in a research note on Monday. DA Davidson reduced their price objective on KeyCorp from $22.00 to $21.00 and set a "buy" rating for the company in a research note on Wednesday, January 22nd. Finally, Morgan Stanley reissued an "equal weight" rating on shares of KeyCorp in a report on Thursday, April 17th. Eight investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, KeyCorp presently has an average rating of "Moderate Buy" and an average price target of $18.97.

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.