NorthRock Partners LLC Grows Position in KeyCorp (NYSE:KEY)

NorthRock Partners LLC lifted its position in KeyCorp (NYSE:KEY - Free Report) by 129.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,702 shares of the financial services provider's stock after acquiring an additional 23,529 shares during the period. NorthRock Partners LLC's holdings in KeyCorp were worth $715,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of KeyCorp during the fourth quarter worth $153,235,000. Vanguard Group Inc. raised its holdings in KeyCorp by 7.1% in the 4th quarter. Vanguard Group Inc. now owns 116,932,760 shares of the financial services provider's stock valued at $2,004,228,000 after acquiring an additional 7,754,576 shares during the last quarter. Freestone Grove Partners LP purchased a new position in KeyCorp in the 4th quarter worth approximately $63,540,000. FMR LLC boosted its holdings in shares of KeyCorp by 7.1% during the 4th quarter. FMR LLC now owns 44,431,526 shares of the financial services provider's stock worth $761,556,000 after purchasing an additional 2,938,405 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of KeyCorp in the fourth quarter valued at approximately $42,827,000. 79.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

KEY has been the subject of several analyst reports. Wells Fargo & Company restated an "overweight" rating on shares of KeyCorp in a report on Thursday, April 17th. Baird R W upgraded KeyCorp from a "hold" rating to a "strong-buy" rating in a report on Monday, April 7th. Barclays cut their target price on KeyCorp from $21.00 to $20.00 and set an "equal weight" rating on the stock in a research report on Monday, April 21st. DA Davidson lowered their price objective on shares of KeyCorp from $22.00 to $21.00 and set a "buy" rating for the company in a research note on Wednesday, January 22nd. Finally, Jefferies Financial Group assumed coverage on KeyCorp in a report on Wednesday. They set a "hold" rating and a $18.00 price target on the stock. Eleven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $18.86.

KeyCorp Stock Performance

KEY traded down $0.28 during trading on Wednesday, hitting $16.02. The stock had a trading volume of 2,750,873 shares, compared to its average volume of 12,904,372. The firm has a market capitalization of $17.55 billion, a P/E ratio of -53.38, a PEG 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 has a twelve month low of $12.73 and a twelve month high of $20.04. The company's 50-day moving average price is $15.19 and its 200 day moving average price is $16.88.

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 for the quarter, topping analysts' consensus estimates of $0.32 by $0.01. The firm 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 company posted $0.20 earnings per share. On average, equities research analysts forecast that KeyCorp will post 1.5 EPS for the current fiscal year.

KeyCorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Tuesday, May 27th will be given a dividend of $0.205 per share. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $0.82 dividend on an annualized basis and a yield of 5.12%. KeyCorp's dividend payout ratio (DPR) is currently -482.35%.

KeyCorp announced that its Board of Directors has initiated a stock buyback plan on Thursday, March 13th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the financial services provider to purchase up to 6% of its shares through open market purchases. Shares buyback plans are often a sign that the company's leadership believes its shares are undervalued.

Insider Buying and Selling at KeyCorp

In other KeyCorp news, insider Mohit Ramani bought 10,000 shares of KeyCorp stock in a transaction that occurred on Monday, April 21st. The shares were purchased 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 $137,500. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Carlton L. Highsmith sold 5,000 shares of KeyCorp stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $16.60, for a total value of $83,000.00. Following the completion of the sale, the director now 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 disclosure for this sale can be found here. 0.52% of the stock is currently owned by insiders.

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.