Guggenheim Capital LLC Sells 27,341 Shares of KeyCorp (NYSE:KEY)

Guggenheim Capital LLC lessened its position in shares of KeyCorp (NYSE:KEY - Free Report) by 26.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 75,489 shares of the financial services provider's stock after selling 27,341 shares during the period. Guggenheim Capital LLC's holdings in KeyCorp were worth $1,294,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in KEY. Principal Financial Group Inc. lifted its holdings in KeyCorp by 3.4% during the fourth quarter. Principal Financial Group Inc. now owns 1,117,238 shares of the financial services provider's stock valued at $19,149,000 after purchasing an additional 36,424 shares during the last quarter. Truist Financial Corp raised its position in shares of KeyCorp by 27.1% in the fourth quarter. Truist Financial Corp now owns 95,856 shares of the financial services provider's stock valued at $1,643,000 after purchasing an additional 20,424 shares during the period. Avanza Fonder AB purchased a new stake in shares of KeyCorp during the 4th quarter valued at approximately $1,618,000. Proficio Capital Partners LLC bought a new position in KeyCorp in the 4th quarter worth approximately $1,519,000. Finally, CHURCHILL MANAGEMENT Corp grew its stake in KeyCorp by 5.9% in the 4th quarter. CHURCHILL MANAGEMENT Corp now owns 465,333 shares of the financial services provider's stock valued at $7,976,000 after buying an additional 26,047 shares in the last quarter. Institutional investors own 79.69% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Barclays dropped their target price on KeyCorp from $21.00 to $20.00 and set an "equal weight" rating on the stock in a research report on Monday, April 21st. Keefe, Bruyette & Woods cut their target price on KeyCorp from $20.00 to $18.00 and set an "outperform" rating for the company in a research note on Monday, April 21st. Wells Fargo & Company reaffirmed an "overweight" rating on shares of KeyCorp in a report on Thursday, April 17th. Royal Bank of Canada reissued an "outperform" rating on shares of KeyCorp in a report on Thursday, April 17th. Finally, Baird R W raised shares of KeyCorp from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 7th. Eight research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $19.15.

Insiders Place Their Bets

In related news, Director Of Nova Scotia Bank bought 50,000 shares of the stock in a transaction dated Wednesday, February 5th. The stock was bought at an average price of $17.85 per share, with a total value of $892,500.00. Following the purchase, the director now owns 162,983,726 shares in the company, valued at approximately $2,909,259,509.10. The trade was a 0.03 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Mohit Ramani purchased 10,000 shares of KeyCorp stock in a transaction that occurred on Monday, April 21st. The shares were bought at an average price of $13.75 per share, for a total transaction of $137,500.00. Following the completion of the transaction, the insider now owns 10,000 shares in the company, 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 acquired 60,180 shares of company stock valued at $1,032,525 over the last three months. Insiders own 0.52% of the company's stock.

KeyCorp Price Performance

Shares of NYSE KEY traded down $0.15 during trading hours on Friday, reaching $14.72. 8,052,209 shares of the stock traded hands, compared to its average volume of 12,858,678. The company's 50-day simple moving average is $15.42 and its two-hundred day simple moving average is $17.06. The company has a market capitalization of $16.13 billion, a P/E ratio of -49.07, a price-to-earnings-growth ratio of 0.65 and a beta of 1.06. KeyCorp has a 52-week low of $12.73 and a 52-week high of $20.04. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.77.

KeyCorp (NYSE:KEY - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The financial services provider reported $0.33 earnings per share 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 during the quarter, compared to analyst estimates of $1.77 billion. During the same period in the previous year, the business posted $0.20 EPS. Equities research analysts forecast that KeyCorp will post 1.5 EPS for the current year.

KeyCorp announced that its Board of Directors has authorized a stock buyback plan 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 plans are generally a sign that the company's leadership believes its stock is undervalued.

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.