Salzhauer Michael Sells 55,500 Shares of KeyCorp (NYSE:KEY)

Salzhauer Michael cut its stake in KeyCorp (NYSE:KEY - Free Report) by 42.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 74,848 shares of the financial services provider's stock after selling 55,500 shares during the period. Salzhauer Michael's holdings in KeyCorp were worth $1,283,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Principal Financial Group Inc. raised its stake in shares of 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 acquiring an additional 36,424 shares in the last quarter. Truist Financial Corp grew its holdings 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 KeyCorp in the fourth quarter valued at approximately $1,618,000. Proficio Capital Partners LLC acquired a new position in KeyCorp during the 4th quarter worth approximately $1,519,000. Finally, CHURCHILL MANAGEMENT Corp increased its position in shares of KeyCorp by 5.9% during the fourth quarter. CHURCHILL MANAGEMENT Corp now owns 465,333 shares of the financial services provider's stock worth $7,976,000 after purchasing an additional 26,047 shares in the last quarter. 79.69% of the stock is currently owned by institutional investors.

KeyCorp Price Performance

KEY stock traded up $0.31 on Tuesday, reaching $14.10. 5,014,589 shares of the company's stock were exchanged, compared to its average volume of 12,952,020. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.77. The firm has a market cap of $15.45 billion, a PE ratio of -46.98, a P/E/G ratio of 0.65 and a beta of 1.06. KeyCorp has a twelve month low of $12.73 and a twelve month high of $20.04. The stock has a fifty day moving average of $15.68 and a 200-day moving average of $17.12.

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 (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.01. The firm had revenue of $1.77 billion for the quarter, compared to analysts' expectations of $1.77 billion. KeyCorp had a positive return on equity of 8.73% and a negative net margin of 2.52%. During the same period last year, the business posted $0.20 earnings per share. As a group, equities analysts predict that KeyCorp will post 1.5 EPS for the current fiscal year.

KeyCorp announced that its board has authorized a share repurchase plan on Thursday, March 13th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the financial services provider to repurchase up to 6% of its stock through open market purchases. Stock buyback plans are often an indication that the company's board believes its stock is undervalued.

Insider Activity

In related 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 stock was 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 in the company, valued at approximately $2,909,259,509.10. This trade represents a 0.03 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.52% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on KEY. Royal Bank of Canada reissued an "outperform" rating on shares of KeyCorp in a research note on Thursday, April 17th. Keefe, Bruyette & Woods cut their price target on KeyCorp from $20.00 to $18.00 and set an "outperform" rating on the stock in a research note on Monday. Barclays decreased their price objective on shares of KeyCorp from $21.00 to $20.00 and set an "equal weight" rating for the company in a report on Monday. Stephens reaffirmed an "overweight" rating and set a $20.00 price target on shares of KeyCorp in a research note on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. lowered their target price on KeyCorp from $18.50 to $16.50 and set a "neutral" rating on the stock in a research note on Thursday, April 3rd. 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 MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $19.26.

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.