Point72 Hong Kong Ltd Acquires 129,937 Shares of KeyCorp (NYSE:KEY)

Point72 Hong Kong Ltd boosted its holdings in KeyCorp (NYSE:KEY) by 57,749.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 130,162 shares of the financial services provider’s stock after buying an additional 129,937 shares during the period. Point72 Hong Kong Ltd’s holdings in KeyCorp were worth $2,231,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in KEY. Czech National Bank increased its position in KeyCorp by 13.7% in the 4th quarter. Czech National Bank now owns 214,923 shares of the financial services provider’s stock worth $3,684,000 after buying an additional 25,856 shares during the period. Brookstone Capital Management increased its position in KeyCorp by 6.3% in the 4th quarter. Brookstone Capital Management now owns 12,415 shares of the financial services provider’s stock worth $213,000 after buying an additional 734 shares during the period. Wedmont Private Capital bought a new position in KeyCorp in the 4th quarter worth approximately $169,000. Park Avenue Securities LLC increased its position in KeyCorp by 33.1% in the 4th quarter. Park Avenue Securities LLC now owns 30,137 shares of the financial services provider’s stock worth $517,000 after buying an additional 7,497 shares during the period. 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 valued at $7,976,000 after purchasing an additional 26,047 shares during the period. 79.69% of the stock is owned by institutional investors.

KeyCorp Price Performance

KeyCorp stock opened at $16.48 on Friday. 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 market cap of $18.06 billion, a P/E ratio of -54.93, a P/E/G ratio of 0.65 and a beta of 1.08. The business’s fifty day moving average is $15.12 and its two-hundred day moving average is $16.90. KeyCorp has a 52 week low of $12.73 and a 52 week high of $20.04.

KeyCorp (NYSE:KEY) last posted its quarterly earnings data on Thursday, April 17th. The financial services provider reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.01. The company 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 previous year, the firm earned $0.20 earnings per share. Equities research analysts forecast that KeyCorp will post 1.5 earnings per share for the current fiscal year.

KeyCorp declared that its Board of Directors has initiated a stock repurchase plan on Thursday, March 13th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 6% of its shares through open market purchases. Shares buyback plans are usually a sign 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. Shareholders of record on Tuesday, May 27th will be paid a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 4.98%. The ex-dividend date of this dividend is Tuesday, May 27th. KeyCorp’s dividend payout ratio is currently -482.35%.

Insiders Place Their Bets

In other KeyCorp news, 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 transaction, the director now owns 37,177 shares of the company’s stock, valued at approximately $617,138.20. The trade was a 11.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mohit Ramani purchased 10,000 shares of the business’s stock in a transaction dated 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 purchase, the insider now directly owns 10,000 shares of the company’s stock, valued at $137,500. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Stephens restated an “overweight” rating and set a $20.00 price objective on shares of KeyCorp in a research report on Wednesday, January 22nd. Morgan Stanley restated an “equal weight” rating on shares of KeyCorp in a research report on Thursday, April 17th. Baird R W upgraded KeyCorp from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 7th. Keefe, Bruyette & Woods lowered their price objective on KeyCorp from $20.00 to $18.00 and set an “outperform” rating on the stock in a research report on Monday, April 21st. Finally, Royal Bank of Canada restated an “outperform” rating on shares of KeyCorp in a research report on Thursday, April 17th. Nine research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $18.92.

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.