Barclays PLC Cuts Stock Position in KeyCorp (NYSE:KEY)

Barclays PLC decreased its holdings in shares of KeyCorp (NYSE:KEY) by 10.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,730,040 shares of the financial services provider’s stock after selling 314,361 shares during the quarter. Barclays PLC owned about 0.28% of KeyCorp worth $46,791,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the business. Townsquare Capital LLC increased its holdings in shares of KeyCorp by 11.7% in the 4th quarter. Townsquare Capital LLC now owns 38,791 shares of the financial services provider’s stock worth $665,000 after buying an additional 4,076 shares during the last quarter. Sterling Capital Management LLC grew its position in KeyCorp by 1.8% in the fourth quarter. Sterling Capital Management LLC now owns 54,855 shares of the financial services provider’s stock worth $940,000 after acquiring an additional 969 shares in the last quarter. Treasurer of the State of North Carolina increased its stake in KeyCorp by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 406,973 shares of the financial services provider’s stock worth $6,976,000 after acquiring an additional 2,550 shares during the last quarter. Raymond James Financial Inc. bought a new stake in KeyCorp during the fourth quarter worth approximately $42,827,000. Finally, Advisory Services Network LLC raised its position in KeyCorp by 4.3% during the fourth quarter. Advisory Services Network LLC now owns 91,510 shares of the financial services provider’s stock valued at $1,568,000 after purchasing an additional 3,781 shares during the period. Institutional investors own 79.69% of the company’s stock.

Insider Buying and Selling

In related news, Director Of Nova Scotia Bank bought 50,000 shares of the company’s stock in a transaction on Wednesday, February 5th. The shares were bought at an average price of $17.85 per share, with a total value of $892,500.00. Following the transaction, the director now 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.61% of the stock is owned by company insiders.

KeyCorp Stock Performance

KEY stock opened at $14.26 on Friday. KeyCorp has a one year low of $12.73 and a one year high of $20.04. The firm has a market cap of $15.62 billion, a price-to-earnings ratio of -47.53, a PEG ratio of 0.65 and a beta of 1.06. 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 firm has a 50-day simple moving average of $15.82 and a two-hundred day simple moving average of $17.14.

KeyCorp (NYSE:KEY) last announced its earnings results on Thursday, April 17th. The financial services provider reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.01. The company had revenue of $1.77 billion during the quarter, compared to the consensus estimate 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 period last year, the firm earned $0.20 earnings per share. On average, equities analysts forecast that KeyCorp will post 1.5 EPS for the current fiscal year.

KeyCorp declared that its Board of Directors has initiated a share buyback program on Thursday, March 13th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the financial services provider to reacquire up to 6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Keefe, Bruyette & Woods cut their target price on KeyCorp from $22.00 to $21.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 22nd. Barclays boosted their price objective on shares of KeyCorp from $19.00 to $21.00 and gave the company an “equal weight” rating in a research report on Monday, January 6th. Morgan Stanley restated an “equal weight” rating on shares of KeyCorp in a report on Thursday. Baird R W upgraded shares of KeyCorp from a “hold” rating to a “strong-buy” rating in a report on Monday, April 7th. Finally, Truist Financial decreased their price objective on shares of KeyCorp from $19.00 to $18.00 and set a “hold” rating for the company in a research note on Friday, March 21st. Seven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $19.31.

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.