Point72 Hong Kong Ltd Boosts Stake in KeyCorp (NYSE:KEY)

Point72 Hong Kong Ltd increased its position in KeyCorp (NYSE:KEY - Free Report) by 57,749.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 130,162 shares of the financial services provider's stock after purchasing an additional 129,937 shares during the quarter. Point72 Hong Kong Ltd's holdings in KeyCorp were worth $2,231,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of KEY. Prana Capital Management LP boosted its holdings in shares of KeyCorp by 127.8% during the fourth quarter. Prana Capital Management LP now owns 2,229,422 shares of the financial services provider's stock worth $38,212,000 after acquiring an additional 1,250,639 shares during the period. ProShare Advisors LLC increased its holdings in shares of KeyCorp by 19.1% during the fourth quarter. ProShare Advisors LLC now owns 212,430 shares of the financial services provider's stock worth $3,641,000 after purchasing an additional 34,045 shares during the period. Quantinno Capital Management LP grew its holdings in shares of KeyCorp by 5.0% during the 4th quarter. Quantinno Capital Management LP now owns 217,671 shares of the financial services provider's stock worth $3,731,000 after purchasing an additional 10,409 shares in the last quarter. Mufg Securities Americas Inc. bought a new position in KeyCorp in the 4th quarter valued at about $281,000. Finally, Man Group plc raised its position in shares of KeyCorp by 0.5% in the 4th quarter. Man Group plc now owns 174,447 shares of the financial services provider's stock valued at $2,990,000 after buying an additional 911 shares in the last quarter. Institutional investors own 79.69% of the company's stock.

Insider Buying and Selling

In other news, Director Carlton L. Highsmith sold 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $16.60, for a total value of $83,000.00. Following the transaction, the director now owns 37,177 shares in the company, valued at approximately $617,138.20. This trade represents a 11.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mohit Ramani bought 10,000 shares of the company's stock in a transaction dated Monday, April 21st. The shares were purchased at an average price of $13.75 per share, with a total value of $137,500.00. Following the completion of the acquisition, the insider now owns 10,000 shares of the company's stock, valued at $137,500. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. 0.52% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on KEY. Barclays reduced their target price on KeyCorp from $21.00 to $20.00 and set an "equal weight" rating on the stock in a report on Monday, April 21st. Cowen began coverage on shares of KeyCorp in a research report on Wednesday. They issued a "hold" rating for the company. Royal Bank of Canada restated an "outperform" rating on shares of KeyCorp in a research report on Thursday, April 17th. 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. Finally, Baird R W raised shares of KeyCorp from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 7th. Ten equities research 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 stock. Based on data from MarketBeat, KeyCorp has an average rating of "Moderate Buy" and a consensus price target of $18.92.

KeyCorp Stock Down 1.0%

KEY stock traded down $0.16 during trading on Monday, reaching $16.47. The stock had a trading volume of 10,157,390 shares, compared to its average volume of 12,924,843. KeyCorp has a one year low of $12.73 and a one year high of $20.04. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.77. The company's 50 day moving average is $15.15 and its two-hundred day moving average is $16.89. The company has a market capitalization of $18.05 billion, a price-to-earnings ratio of -54.90, 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 data 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 business had revenue of $1.77 billion during the quarter, compared to the consensus estimate 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 firm posted $0.20 EPS. Equities research analysts forecast 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 allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the financial services provider to buy up to 6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's leadership believes its stock is undervalued.

KeyCorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors 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 4.98%. The ex-dividend date is Tuesday, May 27th. KeyCorp's payout ratio is currently -482.35%.

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.