Stifel Financial Corp Sells 59,515 Shares of KeyCorp (NYSE:KEY)

Stifel Financial Corp decreased its stake in KeyCorp (NYSE:KEY - Free Report) by 6.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 900,713 shares of the financial services provider's stock after selling 59,515 shares during the period. Stifel Financial Corp owned approximately 0.09% of KeyCorp worth $15,438,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of KEY. Whittier Trust Co. raised its stake in shares of KeyCorp by 110.3% in the 4th quarter. Whittier Trust Co. now owns 1,525 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 800 shares in the last quarter. Ethos Financial Group LLC bought a new stake in KeyCorp in the fourth quarter valued at about $27,000. SBI Securities Co. Ltd. acquired a new stake in KeyCorp during the fourth quarter valued at approximately $34,000. TCTC Holdings LLC lifted its holdings in KeyCorp by 38.6% during the 4th quarter. TCTC Holdings LLC now owns 2,195 shares of the financial services provider's stock worth $38,000 after buying an additional 611 shares during the last quarter. Finally, Whipplewood Advisors LLC bought a new position in KeyCorp during the 4th quarter worth approximately $45,000. Institutional investors and hedge funds own 79.69% of the company's stock.

KeyCorp Price Performance

Shares of NYSE:KEY traded up $0.43 on Friday, hitting $15.42. The stock had a trading volume of 5,518,419 shares, compared to its average volume of 12,804,204. The company has a market capitalization of $16.89 billion, a price-to-earnings ratio of -51.38, a price-to-earnings-growth ratio of 0.65 and a beta of 1.06. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.84 and a current ratio of 0.85. The firm's 50 day moving average price is $15.23 and its 200-day moving average price is $17.00. KeyCorp has a twelve month low of $12.73 and a twelve month high of $20.04.

KeyCorp (NYSE:KEY - Get Free Report) last posted 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. The company 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 previous year, the firm earned $0.20 earnings per share. On average, equities research analysts predict that KeyCorp will post 1.5 earnings per share for the current year.

KeyCorp announced that its Board of Directors has initiated a share buyback plan on Thursday, March 13th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to buy up to 6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board believes its shares are undervalued.

Insider Buying and Selling

In related news, insider Mohit Ramani bought 10,000 shares of the firm's stock in a transaction dated Monday, April 21st. The stock was bought at an average cost of $13.75 per share, for a total transaction of $137,500.00. Following the transaction, the insider now owns 10,000 shares of the company's stock, valued at $137,500. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Of Nova Scotia Bank acquired 50,000 shares of KeyCorp stock in a transaction that occurred on Wednesday, February 5th. The shares were purchased at an average cost of $17.85 per share, for a total transaction of $892,500.00. Following the purchase, the director now directly owns 162,983,726 shares in the company, valued at $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. Insiders bought a total of 60,180 shares of company stock worth $1,032,525 over the last three months. 0.52% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

KEY has been the topic of a number of recent research reports. Keefe, Bruyette & Woods reduced their price target on shares of KeyCorp from $20.00 to $18.00 and set an "outperform" rating on the stock in a research report on Monday, April 21st. Baird R W upgraded KeyCorp from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 7th. Wells Fargo & Company restated an "overweight" rating on shares of KeyCorp in a research report on Thursday, April 17th. JPMorgan Chase & Co. dropped their price target on shares of KeyCorp from $18.50 to $16.50 and set a "neutral" rating on the stock in a research note on Thursday, April 3rd. Finally, Barclays reduced their price target on KeyCorp from $21.00 to $20.00 and set an "equal weight" rating for the company in a research report on Monday, April 21st. Eight research 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 stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $18.97.

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.