Mufg Securities Americas Inc. Buys New Shares in KeyCorp (NYSE:KEY)

Mufg Securities Americas Inc. bought a new stake in KeyCorp (NYSE:KEY - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 16,422 shares of the financial services provider's stock, valued at approximately $281,000.

A number of other large investors have also made changes to their positions in KEY. TCTC Holdings LLC raised its holdings in shares of KeyCorp by 38.6% during the 4th quarter. TCTC Holdings LLC now owns 2,195 shares of the financial services provider's stock valued at $38,000 after buying an additional 611 shares during the period. Signaturefd LLC boosted its position in KeyCorp by 16.0% during the 4th quarter. Signaturefd LLC now owns 4,453 shares of the financial services provider's stock valued at $76,000 after purchasing an additional 614 shares during the period. Modera Wealth Management LLC boosted its position in KeyCorp by 3.9% during the 4th quarter. Modera Wealth Management LLC now owns 16,521 shares of the financial services provider's stock worth $283,000 after acquiring an additional 627 shares during the period. Integrated Wealth Concepts LLC boosted its position in KeyCorp by 2.6% during the 4th quarter. Integrated Wealth Concepts LLC now owns 24,679 shares of the financial services provider's stock worth $423,000 after acquiring an additional 631 shares during the period. Finally, Ballentine Partners LLC raised its stake in shares of KeyCorp by 5.7% in the 4th quarter. Ballentine Partners LLC now owns 12,855 shares of the financial services provider's stock worth $220,000 after buying an additional 692 shares in the last quarter. Institutional investors and hedge funds own 79.69% of the company's stock.

KeyCorp Price Performance

KeyCorp stock traded down $0.21 during midday trading on Tuesday, reaching $16.28. The company had a trading volume of 10,531,305 shares, compared to its average volume of 12,943,577. 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 firm's fifty day simple moving average is $15.17 and its 200-day simple moving average is $16.88. KeyCorp has a 12-month low of $12.73 and a 12-month high of $20.04. The company has a market capitalization of $17.84 billion, a P/E ratio of -54.26, a P/E/G ratio of 0.65 and a beta of 1.08.

KeyCorp (NYSE:KEY - Get Free Report) last issued its quarterly earnings results on Thursday, April 17th. The financial services provider reported $0.33 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 company had revenue of $1.77 billion during the quarter, compared to analysts' expectations of $1.77 billion. During the same quarter last year, the company posted $0.20 EPS. As a group, equities analysts anticipate that KeyCorp will post 1.5 EPS for the current year.

KeyCorp announced that its Board of Directors has approved a share repurchase program 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 reacquire up to 6% of its shares through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its shares are undervalued.

KeyCorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Tuesday, May 27th will be issued a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 5.04%. The ex-dividend date is Tuesday, May 27th. KeyCorp's dividend payout ratio (DPR) is presently -482.35%.

Insider Buying and Selling at KeyCorp

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

Analyst Upgrades and Downgrades

KEY has been the topic of several recent analyst reports. TD Cowen initiated coverage on KeyCorp in a research report on Thursday, May 15th. They set a "hold" rating and a $18.00 price target on the stock. Cowen began coverage on KeyCorp in a report on Wednesday, May 14th. They issued a "hold" rating for the company. StockNews.com upgraded KeyCorp from a "sell" rating to a "hold" rating in a research report on Monday, April 21st. Morgan Stanley restated an "equal weight" rating on shares of KeyCorp in a research report on Thursday, April 17th. Finally, Citigroup reiterated a "buy" rating on shares of KeyCorp in a report on Thursday, April 17th. Ten equities research 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 stock. Based on data from MarketBeat.com, KeyCorp presently has an average rating of "Moderate Buy" and a consensus price target of $18.92.

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.