KeyCorp (NYSE:KEY) Shares Purchased by Prana Capital Management LP

Prana Capital Management LP raised its position in KeyCorp (NYSE:KEY - Free Report) by 127.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,229,422 shares of the financial services provider's stock after acquiring an additional 1,250,639 shares during the period. KeyCorp makes up 1.8% of Prana Capital Management LP's investment portfolio, making the stock its 15th largest holding. Prana Capital Management LP owned 0.22% of KeyCorp worth $38,212,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC lifted its stake in shares of KeyCorp by 27.0% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 106,270 shares of the financial services provider's stock valued at $1,780,000 after purchasing an additional 22,609 shares during the period. Czech National Bank boosted its position in KeyCorp by 13.7% during the fourth quarter. Czech National Bank now owns 214,923 shares of the financial services provider's stock worth $3,684,000 after purchasing an additional 25,856 shares in the last quarter. Brookstone Capital Management boosted its position in KeyCorp by 6.3% during the fourth quarter. Brookstone Capital Management now owns 12,415 shares of the financial services provider's stock worth $213,000 after purchasing an additional 734 shares in the last quarter. Wedmont Private Capital purchased a new position in shares of KeyCorp in the fourth quarter valued at $169,000. Finally, FNY Investment Advisers LLC increased its position in shares of KeyCorp by 171.2% in the fourth quarter. FNY Investment Advisers LLC now owns 16,000 shares of the financial services provider's stock valued at $274,000 after buying an additional 10,100 shares in the last quarter. Hedge funds and other institutional investors own 79.69% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on KEY shares. Citigroup reiterated a "buy" rating on shares of KeyCorp in a research report on Thursday, April 17th. Truist Financial dropped their price objective on shares of KeyCorp from $18.00 to $16.00 and set a "hold" rating for the company in a research note on Tuesday, April 22nd. Wells Fargo & Company reaffirmed an "overweight" rating on shares of KeyCorp in a research note on Thursday, April 17th. Barclays lowered 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. Finally, Keefe, Bruyette & Woods cut their price target on KeyCorp from $20.00 to $18.00 and set an "outperform" rating for the company in a report on Monday, April 21st. Ten investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $18.92.

Insider Transactions at KeyCorp

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

KeyCorp Trading Down 0.6%

KEY stock traded down $0.11 on Tuesday, hitting $16.39. 4,815,795 shares of the company were exchanged, compared to its average volume of 14,280,276. 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 stock has a market capitalization of $17.96 billion, a price-to-earnings ratio of -54.61, a price-to-earnings-growth ratio of 0.65 and a beta of 1.08. KeyCorp has a twelve month low of $12.73 and a twelve month high of $20.04. The business's fifty day moving average is $15.17 and its two-hundred day moving average is $16.88.

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 analysts' consensus estimates of $0.32 by $0.01. KeyCorp had a positive return on equity of 8.73% and a negative net margin of 2.52%. The business had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same period in the prior year, the firm posted $0.20 EPS. As a group, research analysts forecast that KeyCorp will post 1.5 earnings per share for the current year.

KeyCorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Tuesday, May 27th will be issued a $0.205 dividend. The ex-dividend date is Tuesday, May 27th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 5.00%. KeyCorp's dividend payout ratio (DPR) is -482.35%.

KeyCorp declared that its board has approved a stock repurchase plan on Thursday, March 13th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

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.