Price T Rowe Associates Inc. MD Has $622.23 Million Stock Position in KeyCorp (NYSE:KEY)

Price T Rowe Associates Inc. MD grew its position in KeyCorp (NYSE:KEY - Free Report) by 4.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 36,302,732 shares of the financial services provider's stock after acquiring an additional 1,645,296 shares during the quarter. Price T Rowe Associates Inc. MD owned 3.66% of KeyCorp worth $622,229,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in KeyCorp by 7.1% during the fourth quarter. Vanguard Group Inc. now owns 116,932,760 shares of the financial services provider's stock valued at $2,004,228,000 after purchasing an additional 7,754,576 shares in the last quarter. FMR LLC boosted its stake in KeyCorp by 7.1% in the 4th quarter. FMR LLC now owns 44,431,526 shares of the financial services provider's stock valued at $761,556,000 after buying an additional 2,938,405 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in KeyCorp by 4.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 33,058,682 shares of the financial services provider's stock valued at $566,626,000 after acquiring an additional 1,452,179 shares during the period. Geode Capital Management LLC raised its stake in KeyCorp by 7.6% during the fourth quarter. Geode Capital Management LLC now owns 23,349,979 shares of the financial services provider's stock worth $399,169,000 after acquiring an additional 1,647,332 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of KeyCorp by 2.9% during the fourth quarter. Invesco Ltd. now owns 17,260,508 shares of the financial services provider's stock valued at $295,845,000 after acquiring an additional 479,604 shares during the period. 79.69% of the stock is currently owned by institutional investors.

KeyCorp Price Performance

Shares of KEY 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 market cap of $16.29 billion, a P/E ratio of -49.57, a price-to-earnings-growth ratio of 0.65 and a beta of 1.06. The stock's 50-day moving average price is $15.49 and its two-hundred day moving average price is $17.07. KeyCorp has a 1 year low of $12.73 and a 1 year high of $20.04.

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, beating analysts' consensus estimates of $0.32 by $0.01. The firm had revenue of $1.77 billion during the quarter, compared to analysts' expectations of $1.77 billion. KeyCorp had a negative net margin of 2.52% and a positive return on equity of 8.73%. During the same quarter in the previous year, the company earned $0.20 earnings per share. On average, equities analysts predict that KeyCorp will post 1.5 earnings per share for the current year.

KeyCorp declared that its board has approved a share buyback 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 repurchase up to 6% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors believes its stock is undervalued.

Analyst Ratings Changes

A number of brokerages recently issued reports on KEY. Barclays dropped their target price on shares of KeyCorp from $21.00 to $20.00 and set an "equal weight" rating for the company in a research report on Monday. Citigroup reissued a "buy" rating on shares of KeyCorp in a report on Thursday, April 17th. Royal Bank of Canada reiterated an "outperform" rating on shares of KeyCorp in a research report on Thursday, April 17th. JPMorgan Chase & Co. decreased their target price on KeyCorp from $18.50 to $16.50 and set a "neutral" rating on the stock in a report on Thursday, April 3rd. Finally, Baird R W raised KeyCorp from a "hold" rating to a "strong-buy" rating in a report on Monday, April 7th. Eight research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, KeyCorp presently has a consensus rating of "Moderate Buy" and a consensus target price of $19.15.

Insiders Place Their Bets

In other KeyCorp news, Director Of Nova Scotia Bank purchased 50,000 shares of the firm's stock in a transaction dated Wednesday, February 5th. The stock was bought at an average cost of $17.85 per share, with a total value of $892,500.00. Following 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 ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Mohit Ramani bought 10,000 shares of KeyCorp stock in a transaction that occurred on Monday, April 21st. The shares were acquired at an average price of $13.75 per share, with a total value of $137,500.00. Following the acquisition, the insider now directly owns 10,000 shares of the company's stock, valued at $137,500. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders acquired 60,180 shares of company stock worth $1,032,525 over the last ninety days. 0.52% of the stock is currently owned by corporate insiders.

KeyCorp Company 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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