Focus Partners Advisor Solutions LLC Buys 14,233 Shares of KeyCorp (NYSE:KEY)

Focus Partners Advisor Solutions LLC increased its stake in KeyCorp (NYSE:KEY) by 40.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 49,566 shares of the financial services provider’s stock after purchasing an additional 14,233 shares during the period. Focus Partners Advisor Solutions LLC’s holdings in KeyCorp were worth $850,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Whittier Trust Co. increased its position in KeyCorp by 110.3% during the 4th quarter. Whittier Trust Co. now owns 1,525 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 800 shares during the period. Ethos Financial Group LLC bought a new position in KeyCorp in the 4th quarter worth about $27,000. SBI Securities Co. Ltd. bought a new position in KeyCorp in the 4th quarter worth about $34,000. TCTC Holdings LLC lifted its stake in KeyCorp by 38.6% during the 4th quarter. TCTC Holdings LLC now owns 2,195 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 611 shares during the period. Finally, Optiver Holding B.V. bought a new position in KeyCorp during the 4th quarter valued at about $42,000. 79.69% of the stock is currently owned by institutional investors.

Insider Activity

In other KeyCorp news, insider Mohit Ramani purchased 10,000 shares of the firm’s stock in a transaction that occurred on Monday, April 21st. The shares were purchased at an average cost of $13.75 per share, for a total transaction of $137,500.00. Following the completion of the purchase, the insider now directly owns 10,000 shares in the company, valued at $137,500. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Carlton L. Highsmith sold 5,000 shares of the business’s stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $16.60, for a total value of $83,000.00. Following the sale, the director now owns 37,177 shares in the company, valued at approximately $617,138.20. The trade was a 11.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.52% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on KEY shares. Wall Street Zen upgraded shares of KeyCorp from a “sell” rating to a “hold” rating in a research note on Monday, April 21st. Keefe, Bruyette & Woods lowered their target price on shares of KeyCorp from $20.00 to $18.00 and set an “outperform” rating on the stock in a research note on Monday, April 21st. Barclays reduced their price target 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, April 21st. Wells Fargo & Company reaffirmed an “overweight” rating on shares of KeyCorp in a research report on Thursday, April 17th. Finally, Morgan Stanley reaffirmed an “equal weight” rating on shares of KeyCorp in a research report on Thursday, April 17th. Eleven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, KeyCorp presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.86.

KeyCorp Stock Performance

Shares of KeyCorp stock opened at $15.64 on Friday. KeyCorp has a 52 week low of $12.73 and a 52 week high of $20.04. The business’s fifty day simple moving average is $15.19 and its 200-day simple moving average is $16.85. The firm has a market cap of $17.14 billion, a PE ratio of -52.13, a price-to-earnings-growth ratio of 0.65 and a beta of 1.08. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.77.

KeyCorp (NYSE:KEY) last posted its earnings results 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 analyst estimates 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 quarter in the prior year, the company earned $0.20 EPS. Equities analysts forecast that KeyCorp will post 1.5 earnings per share for the current year.

KeyCorp declared that its board has authorized a share buyback program on Thursday, March 13th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

KeyCorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Tuesday, May 27th will be issued a $0.205 dividend. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 5.24%. KeyCorp’s payout ratio is currently -482.35%.

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.