KeyCorp $KEY Shares Bought by Barclays PLC

Barclays PLC grew its holdings in shares of KeyCorp (NYSE:KEY) by 8.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,660,292 shares of the financial services provider’s stock after acquiring an additional 422,506 shares during the period. Barclays PLC’s holdings in KeyCorp were worth $116,828,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its stake in KeyCorp by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 124,811,543 shares of the financial services provider’s stock worth $2,576,110,000 after purchasing an additional 1,192,323 shares in the last quarter. Wellington Management Group LLP lifted its holdings in KeyCorp by 90.2% in the third quarter. Wellington Management Group LLP now owns 36,370,694 shares of the financial services provider’s stock worth $679,768,000 after acquiring an additional 17,245,128 shares during the last quarter. Geode Capital Management LLC lifted its holdings in KeyCorp by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 23,983,690 shares of the financial services provider’s stock worth $493,048,000 after acquiring an additional 115,968 shares during the last quarter. Capital World Investors lifted its holdings in KeyCorp by 1.1% in the fourth quarter. Capital World Investors now owns 21,027,471 shares of the financial services provider’s stock worth $434,007,000 after acquiring an additional 238,514 shares during the last quarter. Finally, Franklin Resources Inc. lifted its holdings in KeyCorp by 2.6% in the third quarter. Franklin Resources Inc. now owns 15,799,619 shares of the financial services provider’s stock worth $295,295,000 after acquiring an additional 397,523 shares during the last quarter. 79.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

KEY has been the topic of a number of recent analyst reports. Evercore reaffirmed an “outperform” rating on shares of KeyCorp in a report on Tuesday, April 21st. Weiss Ratings raised KeyCorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 11th. Wall Street Zen lowered shares of KeyCorp from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Susquehanna raised their price objective on shares of KeyCorp from $300.00 to $415.00 and gave the company a “positive” rating in a research note on Monday, May 18th. Finally, Stephens initiated coverage on shares of KeyCorp in a research note on Monday. They set an “overweight” rating and a $26.00 price objective on the stock. Twelve equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $44.13.

Insider Activity

In other KeyCorp news, insider Angela G. Mago sold 22,826 shares of KeyCorp stock in a transaction on Friday, May 8th. The shares were sold at an average price of $21.66, for a total transaction of $494,411.16. Following the completion of the sale, the insider owned 281,564 shares of the company’s stock, valued at $6,098,676.24. This trade represents a 7.50% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.56% of the stock is owned by company insiders.

KeyCorp Trading Down 1.3%

NYSE KEY opened at $22.40 on Tuesday. KeyCorp has a twelve month low of $15.66 and a twelve month high of $23.34. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 0.83. The stock has a market cap of $24.29 billion, a price-to-earnings ratio of 13.74, a PEG ratio of 0.72 and a beta of 1.03. The firm’s 50 day moving average price is $21.58 and its two-hundred day moving average price is $21.01.

KeyCorp (NYSE:KEY) last posted its quarterly earnings data on Thursday, April 16th. The financial services provider reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.03. KeyCorp had a net margin of 17.03% and a return on equity of 10.80%. The firm had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.93 billion. During the same period in the previous year, the company posted $0.38 EPS. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. Equities analysts anticipate that KeyCorp will post 1.82 EPS for the current year.

KeyCorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Tuesday, June 2nd were paid a dividend of $0.205 per share. The ex-dividend date of this dividend was Tuesday, June 2nd. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.7%. KeyCorp’s dividend payout ratio (DPR) is 50.31%.

KeyCorp announced that its Board of Directors has initiated a share repurchase plan on Wednesday, May 13th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the financial services provider to buy up to 13% 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 is a bank holding company headquartered in Cleveland, Ohio, that operates through its primary banking subsidiary, KeyBank. It provides a broad range of banking and financial services to individual consumers, small businesses, middle-market companies and large corporations. KeyBank’s offerings span traditional deposit and lending products as well as more specialized financial solutions designed for commercial and institutional clients.

The company’s product and service mix includes retail banking products such as checking and savings accounts, consumer and residential mortgage lending, and auto financing.