MetLife Investment Management LLC Grows Position in KeyCorp (NYSE:KEY)

MetLife Investment Management LLC boosted its position in shares of KeyCorp (NYSE:KEY - Free Report) by 8.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 261,208 shares of the financial services provider's stock after acquiring an additional 19,923 shares during the period. MetLife Investment Management LLC's holdings in KeyCorp were worth $4,477,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB purchased a new position in KeyCorp in the third quarter valued at $395,000. Franklin Resources Inc. increased its holdings in shares of KeyCorp by 340.0% in the 3rd quarter. Franklin Resources Inc. now owns 413,011 shares of the financial services provider's stock valued at $7,186,000 after acquiring an additional 319,155 shares during the last quarter. Versant Capital Management Inc raised its position in shares of KeyCorp by 44.6% during the 4th quarter. Versant Capital Management Inc now owns 3,587 shares of the financial services provider's stock worth $61,000 after acquiring an additional 1,107 shares in the last quarter. GAMMA Investing LLC lifted its stake in KeyCorp by 23.0% during the fourth quarter. GAMMA Investing LLC now owns 30,413 shares of the financial services provider's stock worth $521,000 after purchasing an additional 5,687 shares during the last quarter. Finally, Everence Capital Management Inc. boosted its holdings in KeyCorp by 25.3% in the fourth quarter. Everence Capital Management Inc. now owns 41,320 shares of the financial services provider's stock valued at $708,000 after purchasing an additional 8,330 shares in the last quarter. Institutional investors and hedge funds own 79.69% of the company's stock.

KeyCorp Stock Performance

Shares of KEY stock opened at $14.87 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.77. The stock has a 50 day simple moving average of $15.49 and a 200-day simple moving average of $17.07. The company has a market cap of $16.29 billion, a price-to-earnings ratio of -49.57, a price-to-earnings-growth ratio of 0.65 and a beta of 1.06. 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 earnings results 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. KeyCorp had a positive return on equity of 8.73% and a negative net margin of 2.52%. The company had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter last year, the company earned $0.20 earnings per share. On average, equities analysts forecast that KeyCorp will post 1.5 EPS for the current year.

KeyCorp announced that its board has approved a stock repurchase 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 purchase up to 6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling

In other news, Director Of Nova Scotia Bank acquired 50,000 shares of KeyCorp stock in a transaction that occurred on Wednesday, February 5th. The stock was purchased at an average cost of $17.85 per share, with a total value of $892,500.00. Following the completion of the acquisition, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Mohit Ramani purchased 10,000 shares of the company's stock in a transaction dated 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 transaction, the insider now owns 10,000 shares of the company's stock, valued at approximately $137,500. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 60,180 shares of company stock valued at $1,032,525. Corporate insiders own 0.52% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on KEY. Keefe, Bruyette & Woods reduced their price objective on shares of KeyCorp from $20.00 to $18.00 and set an "outperform" rating for the company in a research report on Monday. Stephens restated an "overweight" rating and issued a $20.00 price objective on shares of KeyCorp in a research note on Wednesday, January 22nd. StockNews.com raised KeyCorp from a "sell" rating to a "hold" rating in a report on Monday. Royal Bank of Canada reissued an "outperform" rating on shares of KeyCorp in a report on Thursday, April 17th. Finally, Morgan Stanley restated an "equal weight" 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 given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $19.15.

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.

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