KeyCorp (NYSE:KEY) Shares Acquired by First Trust Advisors LP

First Trust Advisors LP raised its stake in shares of KeyCorp (NYSE:KEY - Free Report) by 11.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,608,454 shares of the financial services provider's stock after purchasing an additional 269,378 shares during the quarter. First Trust Advisors LP owned about 0.26% of KeyCorp worth $44,709,000 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 the stock. Whittier Trust Co. increased its position 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 acquiring an additional 800 shares during the period. Ethos Financial Group LLC acquired a new position in shares of KeyCorp in the fourth quarter valued at about $27,000. SBI Securities Co. Ltd. purchased a new position in shares of KeyCorp in the fourth quarter worth about $34,000. TCTC Holdings LLC lifted its holdings in shares of KeyCorp by 38.6% during the fourth 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 purchased a new stake in KeyCorp in the fourth quarter valued at approximately $45,000. Hedge funds and other institutional investors own 79.69% of the company's stock.

Insider Transactions at KeyCorp

In other news, insider Mohit Ramani acquired 10,000 shares of the company's stock in a transaction that occurred on 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 acquisition, the insider now owns 10,000 shares of the company's stock, valued at $137,500. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Of Nova Scotia Bank bought 50,000 shares of KeyCorp stock in a transaction 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 completion of the purchase, the director now directly owns 162,983,726 shares of the company's stock, valued at $2,909,259,509.10. This trade represents a 0.03 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 60,180 shares of company stock worth $1,032,525 in the last ninety days. Insiders own 0.52% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have commented on KEY. JPMorgan Chase & Co. decreased their price objective on shares of KeyCorp from $18.50 to $16.50 and set a "neutral" rating for the company in a research note on Thursday, April 3rd. Citigroup reaffirmed a "buy" rating on shares of KeyCorp in a report on Thursday, April 17th. Stephens reiterated an "overweight" rating and set a $20.00 price objective on shares of KeyCorp in a research note on Wednesday, January 22nd. Wells Fargo & Company restated an "overweight" rating on shares of KeyCorp in a research note on Thursday, April 17th. Finally, Keefe, Bruyette & Woods dropped 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 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 stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $19.15.

KeyCorp Price Performance

KeyCorp stock traded down $0.15 during midday trading on Friday, reaching $14.72. The company had a trading volume of 8,052,209 shares, compared to its average volume of 12,862,957. KeyCorp has a 12-month low of $12.73 and a 12-month high of $20.04. The firm's fifty day simple moving average is $15.42 and its 200-day simple moving average is $17.06. 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 company has a market capitalization of $16.13 billion, a P/E ratio of -49.07, a P/E/G ratio of 0.65 and a beta of 1.06.

KeyCorp (NYSE:KEY - Get Free Report) last released its earnings results on Thursday, April 17th. The financial services provider reported $0.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 prior year, the firm earned $0.20 earnings per share. As a group, equities analysts anticipate that KeyCorp will post 1.5 EPS for the current year.

KeyCorp announced that its board has approved a share buyback plan on Thursday, March 13th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's leadership 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.