Dimensional Fund Advisors LP Raises Holdings in KeyCorp (NYSE:KEY)

Dimensional Fund Advisors LP lifted its holdings in KeyCorp (NYSE:KEY - Free Report) by 5.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,882,234 shares of the financial services provider's stock after acquiring an additional 576,567 shares during the period. Dimensional Fund Advisors LP owned 1.10% of KeyCorp worth $186,520,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. First Trust Advisors LP grew its holdings 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 valued at $44,709,000 after buying an additional 269,378 shares in the last quarter. Forum Financial Management LP boosted its position in shares of KeyCorp by 121.5% during the fourth 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 last quarter. GeoWealth Management LLC grew its stake in KeyCorp by 27.8% during the fourth 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. Farringdon Capital Ltd. purchased a new stake in KeyCorp in the 4th quarter worth $589,000. Finally, Marshall Wace LLP boosted its holdings in shares of KeyCorp by 630.9% during the 4th quarter. Marshall Wace LLP now owns 573,881 shares of the financial services provider's stock valued at $9,836,000 after purchasing an additional 495,368 shares during the last quarter. Hedge funds and other institutional investors own 79.69% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Royal Bank of Canada reaffirmed an "outperform" rating on shares of KeyCorp in a research note on Thursday, April 17th. 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 research report on Monday, April 21st. DA Davidson lowered their price target on KeyCorp from $22.00 to $21.00 and set a "buy" rating for the company in a research report on Wednesday, January 22nd. Citigroup reiterated a "buy" rating on shares of KeyCorp in a research report on Thursday, April 17th. Finally, Wells Fargo & Company reaffirmed an "overweight" rating on shares of KeyCorp in a research note on Thursday, April 17th. Eight investment 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 company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $19.15.

Insider Transactions at KeyCorp

In related news, insider Mohit Ramani acquired 10,000 shares of the stock in a transaction dated Monday, April 21st. The stock was acquired at an average cost of $13.75 per share, for a total transaction of $137,500.00. Following the completion of the purchase, the insider now owns 10,000 shares of the company's stock, valued at approximately $137,500. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Of Nova Scotia Bank bought 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 $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. Over the last three months, insiders have acquired 60,180 shares of company stock valued at $1,032,525. Corporate insiders own 0.52% of the company's stock.

KeyCorp Stock Down 1.0 %

KEY stock traded down $0.15 during trading on Friday, reaching $14.72. 8,052,209 shares of the company traded hands, compared to its average volume of 12,862,957. The business has a 50 day simple moving average of $15.42 and a 200 day simple moving average of $17.06. KeyCorp has a 12 month low of $12.73 and a 12 month high of $20.04. 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 company has a market capitalization of $16.13 billion, a price-to-earnings ratio of -49.07, a price-to-earnings-growth ratio of 0.65 and a beta of 1.06.

KeyCorp (NYSE:KEY - Get Free Report) last issued its quarterly earnings data 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. KeyCorp had a negative net margin of 2.52% and a positive return on equity of 8.73%. The firm had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter in the previous year, the firm earned $0.20 EPS. On average, equities research analysts anticipate that KeyCorp will post 1.5 earnings per share for the current fiscal year.

KeyCorp announced that its board has approved 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 buy up to 6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's leadership believes its stock is 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.