KeyCorp (NYSE:KEY) Shares Purchased by KG&L Capital Management LLC

KG&L Capital Management LLC increased its holdings in KeyCorp (NYSE:KEY) by 27.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 95,962 shares of the financial services provider’s stock after buying an additional 20,592 shares during the period. KG&L Capital Management LLC’s holdings in KeyCorp were worth $1,534,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of KEY. Whittier Trust Co. boosted its stake in KeyCorp by 110.3% in the fourth quarter. Whittier Trust Co. now owns 1,525 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 800 shares during the period. Ethos Financial Group LLC acquired a new stake in KeyCorp in the fourth quarter worth $27,000. Fourth Dimension Wealth LLC acquired a new position in shares of KeyCorp during the fourth quarter valued at $28,000. SBI Securities Co. Ltd. acquired a new position in KeyCorp during the 4th quarter valued at about $34,000. Finally, FSC Wealth Advisors LLC acquired a new stake in shares of KeyCorp in the first quarter valued at approximately $34,000. Institutional investors own 79.69% of the company’s stock.

Insiders Place Their Bets

In other KeyCorp news, insider Amy G. Brady sold 19,000 shares of the stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $16.09, for a total transaction of $305,710.00. Following the transaction, the insider now owns 82,523 shares in the company, valued at $1,327,795.07. This trade represents a 18.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Mohit Ramani acquired 10,000 shares of KeyCorp stock in a transaction dated Monday, April 21st. The stock was purchased at an average price of $13.75 per share, with a total value of $137,500.00. Following the completion of the purchase, the insider now directly owns 10,000 shares of the company’s stock, valued at $137,500. The trade was a ? increase in their position. The disclosure for this purchase can be found here. Insiders own 0.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on KEY. Baird R W raised KeyCorp from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 7th. Cowen assumed coverage on shares of KeyCorp in a report on Wednesday, May 14th. They issued a “hold” rating for the company. TD Cowen began coverage on KeyCorp in a report on Thursday, May 15th. They set a “hold” rating and a $18.00 target price on the stock. Morgan Stanley reaffirmed an “equal weight” rating on shares of KeyCorp in a research note on Thursday, April 17th. Finally, Wall Street Zen raised KeyCorp from a “sell” rating to a “hold” rating in a research note on Monday, April 21st. Twelve analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, KeyCorp presently has an average rating of “Moderate Buy” and an average price target of $18.92.

KeyCorp Stock Performance

Shares of KEY opened at $16.81 on Thursday. KeyCorp has a 52 week low of $12.73 and a 52 week high of $20.04. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.83 and a current ratio of 0.84. The company has a market capitalization of $18.42 billion, a PE ratio of -98.88, a PEG ratio of 0.63 and a beta of 1.09. The company’s 50 day moving average price is $15.69 and its 200 day moving average price is $16.35.

KeyCorp (NYSE:KEY) last posted its quarterly earnings results 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 business had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.77 billion. KeyCorp had a negative net margin of 0.12% and a positive return on equity of 9.43%. During the same period in the prior year, the business posted $0.20 earnings per share. Research analysts expect that KeyCorp will post 1.5 EPS for the current fiscal year.

KeyCorp declared that its board has authorized a stock repurchase program on Thursday, March 13th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the financial services provider to reacquire up to 6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

KeyCorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Tuesday, May 27th were issued a dividend of $0.205 per share. The ex-dividend date was Tuesday, May 27th. This represents a $0.82 annualized dividend and a yield of 4.88%. KeyCorp’s dividend payout ratio (DPR) 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.