KeyCorp (NYSE:KEY) Shares Sold by Ethic Inc.

Ethic Inc. decreased its stake in shares of KeyCorp (NYSE:KEY) by 2.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 218,865 shares of the financial services provider’s stock after selling 5,169 shares during the period. Ethic Inc.’s holdings in KeyCorp were worth $3,751,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its position in KeyCorp by 3.4% during the fourth quarter. Principal Financial Group Inc. now owns 1,117,238 shares of the financial services provider’s stock worth $19,149,000 after buying an additional 36,424 shares during the period. Truist Financial Corp boosted its position in shares of KeyCorp by 27.1% in the fourth quarter. Truist Financial Corp now owns 95,856 shares of the financial services provider’s stock worth $1,643,000 after buying an additional 20,424 shares during the period. Avanza Fonder AB acquired a new stake in KeyCorp in the fourth quarter valued at approximately $1,618,000. Proficio Capital Partners LLC acquired a new stake in KeyCorp during the 4th quarter valued at $1,519,000. Finally, CHURCHILL MANAGEMENT Corp grew its stake in shares of KeyCorp by 5.9% during the fourth quarter. CHURCHILL MANAGEMENT Corp now owns 465,333 shares of the financial services provider’s stock valued at $7,976,000 after acquiring an additional 26,047 shares in the last quarter. Institutional investors and hedge funds own 79.69% of the company’s stock.

KeyCorp Trading Down 0.6 %

Shares of NYSE:KEY opened at $15.48 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.77. KeyCorp has a 12-month low of $12.73 and a 12-month high of $20.04. The firm has a fifty day moving average of $15.06 and a two-hundred day moving average of $16.92. The firm has a market capitalization of $16.97 billion, a P/E ratio of -51.60, a price-to-earnings-growth ratio of 0.65 and a beta of 1.08.

KeyCorp (NYSE:KEY) last released its quarterly earnings data on Thursday, April 17th. The financial services provider reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.01. The business had revenue of $1.77 billion during the quarter, compared to analyst estimates 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 quarter in the previous year, the business earned $0.20 EPS. On average, equities analysts expect that KeyCorp will post 1.5 EPS for the current fiscal year.

KeyCorp declared that its Board of Directors has initiated a stock repurchase plan on Thursday, March 13th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the financial services provider to repurchase up to 6% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Barclays dropped their price target on shares of KeyCorp from $21.00 to $20.00 and set an “equal weight” rating for the company in a research note on Monday, April 21st. Citigroup restated a “buy” rating on shares of KeyCorp in a research note on Thursday, April 17th. StockNews.com raised KeyCorp from a “sell” rating to a “hold” rating in a report on Monday, April 21st. JPMorgan Chase & Co. decreased their target price on shares of KeyCorp from $18.50 to $16.50 and set a “neutral” rating for the company in a research report on Thursday, April 3rd. Finally, Truist Financial lowered their price target on KeyCorp from $18.00 to $16.00 and set a “hold” rating on the stock in a research report on Tuesday, April 22nd. Eight analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, KeyCorp currently has an average rating of “Moderate Buy” and an average price target of $18.97.

Insider Transactions at KeyCorp

In related news, insider Mohit Ramani bought 10,000 shares of the company’s stock in a transaction that occurred on Monday, April 21st. The shares were acquired at an average price of $13.75 per share, with a total value 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. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.52% of the stock is owned by corporate insiders.

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.