Tower Research Capital LLC TRC Has $1.55 Million Holdings in KeyCorp (NYSE:KEY)

Tower Research Capital LLC TRC lifted its position in KeyCorp (NYSE:KEY - Free Report) by 176.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 90,622 shares of the financial services provider's stock after purchasing an additional 57,857 shares during the quarter. Tower Research Capital LLC TRC's holdings in KeyCorp were worth $1,553,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of KEY. Whittier Trust Co. raised its position in shares of 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 last quarter. Ethos Financial Group LLC bought a new position in KeyCorp in the 4th quarter valued at about $27,000. SBI Securities Co. Ltd. acquired a new stake in shares of KeyCorp in the 4th quarter valued at $34,000. TCTC Holdings LLC boosted its stake in shares of KeyCorp by 38.6% in the 4th quarter. TCTC Holdings LLC now owns 2,195 shares of the financial services provider's stock valued at $38,000 after purchasing an additional 611 shares in the last quarter. Finally, Whipplewood Advisors LLC bought a new position in shares of KeyCorp in the 4th quarter valued at $45,000. Institutional investors own 79.69% of the company's stock.

Insider Activity at KeyCorp

In other KeyCorp news, Director Of Nova Scotia Bank bought 50,000 shares of KeyCorp stock in a transaction dated Wednesday, February 5th. The stock was bought at an average cost of $17.85 per share, for a total transaction of $892,500.00. Following the purchase, the director now owns 162,983,726 shares in the company, valued at $2,909,259,509.10. This represents a 0.03 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Mohit Ramani acquired 10,000 shares of the stock in a transaction that occurred on Monday, April 21st. The shares were acquired at an average cost of $13.75 per share, with a total value of $137,500.00. Following the transaction, the insider now owns 10,000 shares in the company, valued at approximately $137,500. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 60,180 shares of company stock worth $1,032,525. 0.52% of the stock is currently owned by insiders.

KeyCorp Stock Down 1.0 %

Shares of KEY stock traded down $0.15 during trading hours on Friday, reaching $14.72. 8,052,209 shares of the stock were exchanged, compared to its average volume of 12,862,957. The firm 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. The business's fifty day moving average is $15.42 and its two-hundred day 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. KeyCorp has a 12-month low of $12.73 and a 12-month high of $20.04.

KeyCorp (NYSE:KEY - Get Free Report) last released its quarterly earnings results on Thursday, April 17th. The financial services provider reported $0.33 EPS for the quarter, topping the consensus estimate 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 positive return on equity of 8.73% and a negative net margin of 2.52%. During the same quarter in the prior year, the business earned $0.20 earnings per share. As a group, research analysts expect that KeyCorp will post 1.5 EPS for the current fiscal year.

KeyCorp announced that its board has initiated a stock repurchase plan on Thursday, March 13th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the financial services provider to reacquire up to 6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's management believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on KEY shares. Keefe, Bruyette & Woods lowered their price objective on KeyCorp from $20.00 to $18.00 and set an "outperform" rating for the company in a research report on Monday, April 21st. Morgan Stanley reissued an "equal weight" rating on shares of KeyCorp in a research report on Thursday, April 17th. DA Davidson lowered their target price on KeyCorp from $22.00 to $21.00 and set a "buy" rating on the stock in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. decreased their price objective on KeyCorp from $18.50 to $16.50 and set a "neutral" rating on the stock in a report on Thursday, April 3rd. Finally, Citigroup restated a "buy" rating on shares of KeyCorp in a report on Thursday, April 17th. Eight equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $19.15.

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.