KeyCorp (NYSE:KEY) Shares Sold by Barclays PLC

Barclays PLC decreased its stake in shares of KeyCorp (NYSE:KEY - Free Report) by 10.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,730,040 shares of the financial services provider's stock after selling 314,361 shares during the quarter. Barclays PLC owned about 0.28% of KeyCorp worth $46,791,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in KEY. Whittier Trust Co. lifted its stake in KeyCorp by 110.3% during the 4th 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 position in KeyCorp during the fourth quarter valued at $27,000. SBI Securities Co. Ltd. acquired a new position in KeyCorp during the fourth quarter valued at $34,000. TCTC Holdings LLC grew its position 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 purchasing an additional 611 shares during the period. Finally, Whipplewood Advisors LLC acquired a new stake in KeyCorp during the 4th quarter worth about $45,000. Hedge funds and other institutional investors own 79.69% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on KEY shares. Stephens restated an "overweight" rating and issued a $20.00 target price on shares of KeyCorp in a research note on Wednesday, January 22nd. Keefe, Bruyette & Woods dropped their price objective on shares of KeyCorp from $20.00 to $18.00 and set an "outperform" rating on the stock in a research note on Monday. StockNews.com raised shares of KeyCorp from a "sell" rating to a "hold" rating in a report on Monday. Barclays dropped their price target on shares of KeyCorp from $21.00 to $20.00 and set an "equal weight" rating on the stock in a research report on Monday. Finally, Baird R W raised shares of KeyCorp from a "hold" rating to a "strong-buy" rating in a report on Monday, April 7th. Eight investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $19.15.

KeyCorp Price Performance

KEY traded up $0.68 on Wednesday, reaching $14.85. 6,374,045 shares of the company's stock were exchanged, compared to its average volume of 12,922,681. KeyCorp has a twelve month low of $12.73 and a twelve month high of $20.04. The stock has a market cap of $16.27 billion, a PE ratio of -49.50, a P/E/G ratio of 0.65 and a beta of 1.06. 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's fifty day moving average price is $15.61 and its 200-day moving average price is $17.10.

KeyCorp (NYSE:KEY - Get Free Report) last issued its earnings results on Thursday, April 17th. The financial services provider reported $0.33 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $1.77 billion. During the same period in the previous year, the firm posted $0.20 EPS. Sell-side analysts expect that KeyCorp will post 1.5 EPS for the current year.

KeyCorp announced that its Board of Directors has initiated a share buyback program on Thursday, March 13th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 6% of its stock through open market purchases. Stock buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other news, Director Of Nova Scotia Bank acquired 50,000 shares of the business's stock in a transaction that occurred on Wednesday, February 5th. The stock was purchased at an average cost of $17.85 per share, for a total transaction of $892,500.00. Following the completion of the transaction, the director now owns 162,983,726 shares in the company, valued at approximately $2,909,259,509.10. This trade represents a 0.03 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.52% of the company's stock.

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.