BI Asset Management Fondsmaeglerselskab A S Acquires 57,479 Shares of KeyCorp (NYSE:KEY)

BI Asset Management Fondsmaeglerselskab A S lifted its position in KeyCorp (NYSE:KEY - Free Report) by 133.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 100,591 shares of the financial services provider's stock after acquiring an additional 57,479 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in KeyCorp were worth $1,724,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Dimensional Fund Advisors LP boosted its position in shares of KeyCorp by 5.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 10,882,234 shares of the financial services provider's stock worth $186,520,000 after buying an additional 576,567 shares during the period. First Trust Advisors LP boosted its position in KeyCorp by 11.5% during the 4th quarter. First Trust Advisors LP now owns 2,608,454 shares of the financial services provider's stock worth $44,709,000 after acquiring an additional 269,378 shares during the period. Forum Financial Management LP boosted its position in KeyCorp by 121.5% during the 4th quarter. Forum Financial Management LP now owns 31,028 shares of the financial services provider's stock worth $532,000 after acquiring an additional 17,019 shares during the period. GeoWealth Management LLC grew its stake in KeyCorp by 27.8% during the 4th quarter. GeoWealth Management LLC now owns 4,071 shares of the financial services provider's stock valued at $70,000 after acquiring an additional 886 shares in the last quarter. Finally, Farringdon Capital Ltd. acquired a new position in shares of KeyCorp in the 4th quarter valued at about $589,000. Hedge funds and other institutional investors own 79.69% of the company's stock.

Wall Street Analysts Forecast Growth

KEY has been the topic of a number of recent research reports. Barclays lowered their target price on KeyCorp from $21.00 to $20.00 and set an "equal weight" rating on the stock in a research note on Monday, April 21st. DA Davidson dropped their price target on shares of KeyCorp from $22.00 to $21.00 and set a "buy" rating on the stock in a research note on Wednesday, January 22nd. Stephens restated an "overweight" rating and set a $20.00 price target on shares of KeyCorp in a report on Wednesday, January 22nd. Truist Financial decreased their price objective on shares of KeyCorp from $18.00 to $16.00 and set a "hold" rating for the company in a report on Tuesday. Finally, Keefe, Bruyette & Woods cut their target price on KeyCorp from $20.00 to $18.00 and set an "outperform" rating on the stock in a report on Monday, April 21st. Eight analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $19.15.

Insider Buying and Selling at KeyCorp

In other KeyCorp news, Director Of Nova Scotia Bank purchased 50,000 shares of the company's stock in a transaction dated Wednesday, February 5th. The stock was purchased at an average price of $17.85 per share, with a total value of $892,500.00. Following the completion of the purchase, the director now owns 162,983,726 shares of the company's stock, valued at approximately $2,909,259,509.10. The trade was a 0.03 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Mohit Ramani bought 10,000 shares of KeyCorp stock in a transaction that occurred on Monday, April 21st. The stock was bought 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 directly owns 10,000 shares of the company's stock, valued at $137,500. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 60,180 shares of company stock valued at $1,032,525 in the last ninety days. 0.52% of the stock is currently owned by company insiders.

KeyCorp Trading Down 1.0 %

KeyCorp stock traded down $0.15 during trading hours on Friday, reaching $14.72. 8,052,209 shares of the company's stock traded hands, compared to its average volume of 12,858,678. KeyCorp has a fifty-two week low of $12.73 and a fifty-two week high of $20.04. The firm's 50 day moving average is $15.42 and its 200-day moving average is $17.06. 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 has a market capitalization of $16.13 billion, a price-to-earnings ratio of -49.07, a PEG ratio of 0.65 and a beta of 1.06.

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, beating analysts' consensus estimates of $0.32 by $0.01. The business had revenue of $1.77 billion during the quarter, compared to analysts' expectations 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 prior year, the company earned $0.20 EPS. On average, analysts predict that KeyCorp will post 1.5 earnings per share for the current year.

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

About KeyCorp

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.