Natixis Sells 332,963 Shares of KeyCorp (NYSE:KEY)

Natixis lessened its holdings in shares of KeyCorp (NYSE:KEY - Free Report) by 80.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,918 shares of the financial services provider's stock after selling 332,963 shares during the period. Natixis' holdings in KeyCorp were worth $1,353,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of KEY. Whittier Trust Co. increased its position in shares of KeyCorp by 110.3% during the fourth quarter. Whittier Trust Co. now owns 1,525 shares of the financial services provider's stock worth $26,000 after acquiring an additional 800 shares in the last quarter. Ethos Financial Group LLC bought a new position in KeyCorp during the 4th quarter worth about $27,000. SBI Securities Co. Ltd. bought a new stake in shares of KeyCorp in the fourth quarter valued at about $34,000. TCTC Holdings LLC lifted its holdings in shares of KeyCorp by 38.6% in the fourth 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 during the fourth quarter worth about $45,000. 79.69% of the stock is owned by institutional investors.

KeyCorp Stock Up 2.8 %

KEY opened at $14.18 on Wednesday. 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 stock has a fifty day moving average of $15.61 and a 200-day moving average of $17.10. KeyCorp has a fifty-two week low of $12.73 and a fifty-two week high of $20.04. The company has a market capitalization of $15.54 billion, a P/E ratio of -47.27, a P/E/G 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 for the quarter, topping the consensus estimate 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 business had revenue of $1.77 billion during the quarter, compared to analysts' expectations of $1.77 billion. During the same quarter in the previous year, the company earned $0.20 EPS. On average, equities analysts expect that KeyCorp will post 1.5 EPS for the current year.

KeyCorp declared that its board has approved a share repurchase program on Thursday, March 13th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the financial services provider to buy up to 6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board believes its shares are undervalued.

Insider Activity at KeyCorp

In other news, Director Of Nova Scotia Bank acquired 50,000 shares of the firm's stock in a transaction that occurred on Wednesday, February 5th. The shares were acquired at an average cost of $17.85 per share, with a total value 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. The trade was a 0.03 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.52% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on KEY shares. StockNews.com raised shares of KeyCorp from a "sell" rating to a "hold" rating in a research note on Monday. Truist Financial lowered their price target on shares of KeyCorp from $18.00 to $16.00 and set a "hold" rating on the stock in a research note on Tuesday. Barclays decreased their price objective on KeyCorp from $21.00 to $20.00 and set an "equal weight" rating for the company in a report on Monday. DA Davidson dropped their target price on KeyCorp from $22.00 to $21.00 and set a "buy" rating on the stock in a report on Wednesday, January 22nd. Finally, Morgan Stanley restated an "equal weight" rating on shares of KeyCorp in a research note on Thursday, April 17th. Eight equities 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 company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target 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.

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